349 1st St - Luxury Condominium Development 0.16 Acres of Commercial Land in Los Altos, CA 94022

Situated in the heart of Downtown Los Altos, one of Silicon Valley’s most affluent and sought-after communities, this fully entitled luxury condominium project represents a rare opportunity to deliver a boutique collection of high-end residences in an irreplaceable location. The site enjoys a prime village-side address on First Street with no Foothill Expressway exposure, positioned steps from the charming Los Altos village atmosphere with its exceptional array of shops, fine dining, and everyday conveniences — including Draeger’s Market directly across the street. Residents will enjoy a highly walkable lifestyle with the newly renovated Los Altos Community Center and scenic Shoup Park just moments away, all complemented by top-rated Los Altos public schools.

The building’s design sets a new standard for luxury living in the submarket. Most market-rate units benefit from three sides of light and dramatic views of the surrounding hills, with 10-foot floor-to-ceiling heights throughout. A signature rooftop deck crowns the building, offering spectacular 360-degree panoramic views, ample seating, and a barbecue — an amenity rarely found in boutique condominium developments of this scale. Parking is fully resolved with 30 total spaces, including eight (8) conventional ground-level spaces and a fully automated turntable lift system in the basement configurable for up to 22 spaces.
The project is fully de-risked and on an accelerated timeline, benefiting from an SB 330 preliminary application that has been deemed complete, vesting rights under the streamlined approval process and the Builder’s Remedy provision of the Housing Accountability Act. AB 130 is also being utilized for a categorical exemption from CEQA. Critically, the building’s height comes in under 85 feet, eliminating prevailing wage labor requirements entirely. The stacked unit design and absence of ground floor residential units further drive construction cost efficiency and accelerated delivery timelines. Tentative Map approval is anticipated in Q2 2026.
Opportunities to develop luxury for-sale product in the core of Downtown Los Altos are extraordinarily scarce. More information is available upon request and execution of an NDA. Interested parties are encouraged to contact the exclusive listing broker promptly.