The Approved but Not Built Montaldo Apartment Project Is Put Up for Sale

The owner De Nova Homes has decided not to proceed with the construction phase of the project

After a lengthy and complex application process that included the demolition of a significant, historic home, De Nova Homes has decided to sell the project and its granted entitlements. Consisting of multiple apartment buildings accounting for 50 units, the project also includes the 25% city mandated affordable ones.

Located on Hwy. 12 across the street from the Sparc Dispensary and down the block from Maxwell Village Shopping Center, the 2.15-acre project was the subject of multiple meetings and studies to gain its approval.

It’s unknown how long it will take to sell the approved project, or if it will sell at all. If it remains unsold and undeveloped for a period of two years, the approved permits will expire and the land will once again be subject to the entire approval process from the beginning..