SB 1123 -Starter Home Revitalization Act

Any parcel zoned for single-family or multifamily housing can now be subdivided into up to 10 homes — averaging 1,750 SF or less per unit — through a fully ministerial, by-right process. Together, these two laws have effectively rezoned over 100,000 properties across California to allow higher density, creating an entirely new inventory of developable sites that didn't exist before. Gateway is partnering with Housing Group Fund to create Equivada, a new company that specializes in these deals.

Silverado Villas, Napa CA

1705 Silverado Trail, Napa Valley is Equivada's flagship proof of concept — a single-parcel SB 1123 project in one of the world's most prestigious residential markets. Acquired for $930,000, the existing home was sold for $750,000, reducing the land basis to just ~$180,000. Under SB 1123's ministerial approval pathway, the site is being subdivided into 8 new homes — 4 starter homes averaging 1,500 SF and 4 townhomes averaging 1,200 SF — each projected to sell between $700,000 and $900,000. No hearings, no CEQA, no discretionary review.

Yanonali Villas, Santa Barbara CA

Yanonali Villas, Santa Barbara is Equivada's first coastal project — an assemblage of three contiguous parcels (~23,085 SF) on Santa Barbara's desirable East Side, minutes from Montecito and East Beach with mountain and partial ocean views. Utilizing SB 1123's ministerial approval pathway, the site qualifies for streamlined entitlement in 60–90 days with no CEQA and no discretionary review. The business plan delivers six newly constructed three-story homes (~1,750 SF; 3 bed / 3 bath with garage and rooftop patio, projected at ~$1.7M each) alongside the renovation of three existing residences — nine homes total on a single assemblage.

Old Piedmont Road, San Jose CA

Piedmont Villas, San Jose is Equivada's largest project to date — a one-acre parcel on San Jose's desirable East Side, near the foothills and minutes from the San Jose Country Club. Utilizing SB 1123's ministerial approval pathway, the site qualifies for streamlined entitlement in 60–90 days with no CEQA and no discretionary review. The business plan delivers ten brand new detached single-family homes averaging 1,600 SF each, alongside three existing residences already on the parcel — 13 homes total on a single acre. A key structural advantage sets this project apart: the three existing residences carry an estimated value of ~$2.7M, which will be sold during the entitlement phase to fully retire all project debt, leaving the sponsor with finished, entitled lots completely free and clear before construction even begins.

Center Street Villas - Clayton CA

6070 Center Street, Clayton is Equivada's most urban infill project to date — a prime downtown parcel situated directly on Center Street, Clayton's main commercial corridor, in one of the East Bay's most sought-after small cities. Nestled at the base of Mt. Diablo with top-rated schools, low crime, and a tight-knit community feel, Clayton consistently commands premium pricing and fast absorption. Utilizing SB 1123's ministerial approval pathway, the site qualifies for streamlined entitlement in 60–90 days with no CEQA and no discretionary review. The business plan delivers seven new residences — three three-story townhomes and four Craftsman-style two-story single-family homes — alongside two existing residences already on the parcel, for nine homes total on a single downtown site.