As the tiny town of Cupertino prepares itself for the landing of Apple Park—a $5 billion, 2.8 million-square-foot, four-story affair—perhaps now is the perfect time for the Silicon Valley hamlet to consider more housing.
As of today, the most expensive property in the South Bay town is this nondescript, circa-1953 home at 22045 Regnart. Coming in at a scant one bed, one bath, and 624 square feet, it’s asking $5,500,000.
But before the masses wring their hands at the sky, it’s important to note that this house, as petite as it stands, isn’t the selling point. It’s the acreage that’s hot—13.69 acres of it, to be exact. What’s more, it’s a mere 7.2 miles away from Apple Park via I-280.
The property last sold in in 1998 for $1,150,000.
Similar to other towns in Silicon Valley, like Menlo Park and Palo Alto, seemingly simple homes in Cupertino are asking well over $2 million. Take, for example, this simple four-bed, two-and-a-half-bath house at 20883 Sola asking $2.1 million or this one-story ranch-style home at 10943 Wilkinson seeking $2.1 million.
The New York Times recently published a glowing review of Apple Park, noting that. among other things, surrounding cities are in the midst of a development boom. The growth spurts promise new restaurants, cafes, and shops. However, new residential growth seems too little and too far off in the distance.
In nearby Sunnyvale, “a 120-unit apartment community opening this fall,” reports the Gray Lady. What with 12,000 people poised to work at the new Apple HQ, that’s not nearly enough housing. Not even close.