Construction is under way on a development of 46 town homes on Blue Bonnet Lane, across from the new Scotts Valley Branch Library.
Real estate developer City Ventures Residences plans to complete the first phase — roughly half of the three- and four-bedroom townhouses — by the end of the year according to Phil Kerr, City Venture’s vice president of development.
Work began in December and will continue for the next year.
The project was originally proposed by Bill Brooks, a Santa Cruz developer, as the Town Center Homes. It was approved by the city of Scotts Valley three years ago.
However, Brooks sold the property in June to San Francisco-based City Ventures, which began grading the parcel in December. City Ventures has winter grading permits and will build through the winter to complete the homes, Kerr said.
The company is also developing a price structure for the homes, as well as options for lower-income buyers.
“We are working on a low market rate with the city right now,” Kerr said.
The development is next to the Cavallero Transit Center and kitty-corner to the Scotts Valley Senior Center and Community Center.
