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Council approves sale of seven city parcels to Santa Fe Housing Trust for $4.49M
Summary
Council voted to sell seven city parcels (a returned Santa Fe Estates tract) to the Santa Fe Housing Trust for $4,490,000; the buyer is expected to develop the land subject to city development standards and a minimum 20% affordable housing requirement.
The City Council approved a purchase agreement to sell seven city‑owned parcels in the northwest quadrant (a returned portion of a former Santa Fe Estates tract) to the Santa Fe Housing Trust for $4,490,000.
Asset Development Manager Terry Lee reviewed the long history of the tract: a 1930 memorandum that led to a development agreement, a termination of that agreement in 2019, and the return of 250.1 acres to the city as part of a settlement. The seven parcels were appraised at $4,490,000 and the Housing Trust — which earlier submitted a responsive bid — was the buyer selected for final action after a canceled invitation‑to‑bid cycle and subsequent negotiations.
The purchase agreement includes standard development controls and requires compliance with the city’s master plan and land‑use requirements. The Housing Trust’s CEO confirmed the organization will comply with the city’s development review and engage neighborhood stakeholders during each phase. Council voted by roll call to approve the sale.
Councilors and staff noted the city’s prior constraint that the returned tract be used for affordable housing and said the Housing Trust would be expected to meet the council’s affordable‑housing objectives through development of the parcels.
