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North 40 Phase II: Sustainability

North 40 Phase II is a 15.65-acre project located in Los Gatos, California, in the heart of Silicon Valley. 

The project was designed to help the Town of Los Gatos combat a housing shortage and help meet its State housing requirements for the next seven years. The project will deliver over 450 new homes, of which 20% will be allocated to low- and very-low-income affordability levels. A mix of affordable homes, for-rent apartments, and town homes are situated around a two-acre park that will be accessible to the public. 

Other project highlights include 100% all-electric power in the residential buildings, a comprehensive site wide storm water management program, solar powered common areas of the multi-family and retail buildings, and over 30% of the site dedicated to public open space. 

The project will also include a robust bicycle infrastructure with expanded bike paths and e-bike charging opportunities.

Grosvenor’s 2030 Net Zero Carbon Buildings Commitment (WGBC)

North 40 Phase II will meet Grosvenor’s 2030 Commitment to achieve Net Zero Operational Carbon through thoughtful design elements, all-electric appliances, efficient lighting and heating and cooling systems, renewable energy, and the strategic purchase of carbon credits.


Environmental - committed to net zero

Electric building design
(%)

100

Public open space
(% of site)

30

Appliances Energy Star rated
(%)

100

Environmental highlights

Energy 

  • 100% electric building design, including efficient space heating and cooling, LED lighting and smart thermostats, encourages reduced energy use
  • 100% of appliances will be Energy Star rated
  • Onsite renewable energy will power the common areas of the multi-family building
  • The majority of parking spaces will have EV-ready infrastructure to future-proof for increased EV vehicles
  • Cool Roofs and dual pane windows reduce heat transfer and heating loads within the building

Water

  • Site wide storm water management program will recharge filtered water to the site
  • Individual unit sub metering will encourage thoughtful use of water
  • Low-flow fixtures in every apartment and in common areas

Transit-oriented development

  • Reduced parking ratios will encourage residents to take alternative methods of transportation
  • Ample bike parking in each building to encourage bike use as a form of transportation
  • Onsite car-share program is being explored
  • Dedication and construction of a multi-modal path throughout the site that connects to surround multi-modal paths

Social

Affordable homes
(%)

20

Retail and restaurant space
(sq. ft.)

10000

Public park
(Acre)

2

Social impact

Housing & Philanthropy

  • 20% of the homes onsite are dedicated to affordable housing. The majority of those homes will be located in a 100% affordable building designed for families and will include larger units

Community

  • Significant contribution to open space with a two-acre park and additional open green space throughout the site.  
  • Over 10,000 sq. ft. of new retail and restaurant space to serve the residents on site and in the surrounding neighborhoods.

Arts & Culture

  • Contribution of public art on site

Governance

2023 GRESB results
(Stars)

4

GRESB Development*
(Ranking)

2

Above peer average
(Points)

14

Governance at Grosvenor

Environmental objectives in North America


  • 2030 WGBC Zero Carbon Buildings Commitment 
  • 4-stars 2023 GRESB Development Benchmark Results 
  • 91/100 Overall Development ranking (14 points above industry peer average of 77)
  • *2nd Ranking for GRESB Development Score within Americas/Non-listed/Core/Closed end (within peer group)
  • Sustainable Supply Chain Principles offer guidance for Net Zero Carbon, Sustainable Buildings, Sustainable Businesses and Communities, Health & Wellbeing, and Nature & Biodiversity objectives


Certain information contained in this page, including, but not limited to, the environment, social and governance targets set within, are forward-looking statements regarding Grosvenor’s goals and objectives, and are based on current expectations, assumptions, estimates, projections, opinions and beliefs. Forward-looking statements are inherently uncertain, and actual results may differ materially from those reflected within. Grosvenor does not assume any obligation to update such information, whether as a result of new information, future developments or otherwise, except as required by law. 

August 2024.

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