Meeting the Needs of Today and Tomorrow —
Without Forgetting Yesterday
For more than 125 years, Los Gatos has shown it knows how to balance the needs of today and tomorrow, without forgetting its historic and agrarian roots
We are delighted the Town has approved Phase 1 of this project. After more than two decades of planning, the potential of The North 40 — a section of land on the northern edge of town owned by The Yuki Family — will be shared by us all. It is a unique opportunity for a mixed-use development to meet the town’s future needs: To help fund schools. To expand the tax base. Enhance town services. Create jobs. Build a mix of new millennial and senior housing. All to keep local residents living, working and shopping at home, in Los Gatos. Read More >
North 40 Benefits
In addition to $1.9 million annually in taxes and state-mandated fees for local schools, the North 40 developers reached a unique, voluntary financial/land agreement with the Los Gatos Union School District that will further benefit the town’s already-strong public schools without raising taxes on homeowners. Because the housing at North 40 will be geared toward singles, young couples and empty-nest seniors, the new student impact on local schools will be minimal.
The North 40 offers a cohesive plan for the North part of Los Gatos that includes neighborhood-serving shops and dining options that will help keep local spending and jobs right here in Town. Studies have shown that residents now spend almost $80 million every year shopping outside of Los Gatos. An exciting mix of retail services in the North 40 helps ensure residents have as many options as possible, as well as brings services that are currently lacking.
The Los Gatos town budget and local services will be bolstered thanks to new tax revenue and developer fees. Los Gatos is a wonderful place to live thanks to wonderful parks, library and town services. The North 40 plan will support all of these community services by generating millions of dollars in annual new revenue at full build out for the town and it won’t raise taxes on local property owners.
The North 40 will showcase 30 percent of open space, offering opportunities to exercise and socialize surrounded by beautiful parks, community gardens, and walkable streets lined with large shade trees and ample sitting areas. And dog-lovers will have the opportunity to share the fun with their four-legged friends at a newly designed dog park.
Small homes designed for local young professionals and empty-nest seniors. As our valley becomes increasingly expensive every year, it is becoming almost impossible for many local residents to stay in the area close to their families and jobs. The North 40’s housing plan calls for a mix of housing options that will meet young adult and senior needs without constructing large homes that could bring families and additional school impacts.
The project will generate over $12 million in traffic fees, which is unprecedented in Los Gatos. More than $5 million in capital improvement plans to solve several of the Town’s existing transportation deficiencies The plan includes helpful state-of-the-art alternative transportation solutions and a layout built to address the needs of bicyclists and pedestrians, safely connecting them from the North 40 to downtown. Users of public transit will also benefit from additional public transportation amenities.