Berkadia Arranges Sale of Residential Development Site Near Levi’s Stadium in Santa Clara, California
Santa Clara, California – December 23, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it arranged the sale of a 2.52-acre residential development site located at 3100–3118 Patrick Henry Drive in Santa Clara, California, just steps from Levi’s Stadium, home of the San Francisco 49ers.
Senior Managing Director Jason Parr and Managing Director Scott MacDonald of Berkadia San Francisco arranged the transaction on behalf of the buyer, an affiliate of JEMCOR Development Partners and Scaled Projects, which acquired the property for $12.5 million. The transaction closed on December 18.
The site is zoned for high-density residential development within the Patrick Henry Drive (PHD) Specific Plan Area, allowing approximately 100 to 149 units per developable acre and a maximum height of up to 160 feet. The district is envisioned as Santa Clara’s next vibrant, transit-oriented mixed-use neighborhood, with new residential, retail, and public open-space amenities.
“The buyer moved incredibly fast to secure this site, which is a testament to their organization’s agility and belief in Santa Clara’s vision for the Patrick Henry Drive corridor,” said MacDonald. “The Patrick Henry Drive Specific Plan is one of the most forward-thinking land-use visions in Silicon Valley, and this 2.5-acre parcel sits right at its heart. This project will serve as a vital piece of the city’s vision, and in its small part, address the chronic supply-demand imbalance in the region by delivering essential affordable housing. While the proximity to Levi’s Stadium is a great headline, the real story is that for the Bay Area to thrive, we must continue to prioritize high-density development like this one and remove the structural hurdles that have historically hindered the housing growth and affordability our region needs.”
Located within 10 miles of major employers including NVIDIA, AMD, Intel, TSMC, Cisco, Apple, Amazon, Google, Meta, Microsoft, Tesla, and Applied Materials, the site benefits from proximity to one of the world’s most concentrated innovation economies. More than 65% of residents within the surrounding area hold a bachelor’s degree or higher, underscoring the depth and sophistication of the local labor pool. The property is strategically positioned one block from U.S. Highway 101 and near State Route 237, providing convenient regional connectivity. In addition, the site has been designated a “High Resource” tract on the California Tax Credit Allocation Committee (CTCAC) Opportunity Map, presenting affordable and mixed-income housing developers with a rare opportunity to deliver income-restricted housing in a city that has completed only three below-market-rate residential projects since 2013.
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