"A homebuilder that had previously landed an option to buy the Los Gatos Lodge and later gained approval for a housing development at the property has formally purchased the site. Summerhill Homes, acting through an affiliate, paid $78.4 million to purchase the 128-room hotel, according to documents filed on Oct. 15 with the Santa Clara County Recorder's Office. In 2023, the residential developer obtained an option to buy the property from an affiliate headed up by Bay Area resident Keet Nerhan."
"The Los Gatos Town Council in March unanimously approved a Summerhill proposal for a 155-unit housing development on the property at 50 Los Gatos-Saratoga Rd. The project would consist of three-story townhomes distributed among 28 buildings. The 155 residences would include 26 below-market-rate units, 16 priced for low-income residents, and 10 priced for those with a moderate income. The precise timeline to develop the project wasn't immediately known."
An affiliate of Summerhill Homes purchased the 128-room Los Gatos Lodge for $78.4 million, according to county records. The developer secured an option to buy the property in 2023 from an affiliate led by Keet Nerhan, who acquired the hotel in 1996. The Los Gatos Town Council unanimously approved plans for a 155-unit housing development at 50 Los Gatos-Saratoga Rd composed of three-story townhomes across 28 buildings. The project includes 26 below-market-rate units, with 16 priced for low-income households and 10 for moderate-income households. The hotel was built in 1936 and saw little remodeling since the 1970s; the development timeline is not yet known.
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