K
B Home has acquired the Crosswinds, a 269-unit housing project in Morgan Hill, for $76 million. The property spans 33 acres at Mission View and Half Road, with plans to build 56 single-family homes, 64 duet-style homes, and 149 condominium units. The site was previously assessed at $10.3 million and had been approved by the Morgan Hill City Council in July last year. At the time of approval, the land was largely undeveloped, featuring inactive agricultural fields and grasslands.

    The seller, Dividend Homes, applied for the project under SB 330, a state law aimed at speeding up housing approvals and limiting local authority control over development. However, the project faced opposition from local officials due to its partial construction on farmland. To address concerns, Dividend agreed to preserve an equal amount of farmland elsewhere in the state.

    KB Home plans to build the Crosswinds as approved, with no changes to the unit breakdown. "We look forward to our continued partnership with the City of Morgan Hill," said Oren Hershkovich, regional general manager for KB Home. The firm is also working on a large housing project in San Jose's Communications Hill, which will feature 1,304 homes as part of a master-planned development.