What happened
Michael Burry, a Wall Street guru, is suing the City of Saratoga over the approval of a 25-unit development called Masson Estates near Mountain Winery. Burry's non-profit, Citizens for Responsible and Equitable Development, filed a petition in Santa Clara County Superior Court, arguing that the project poses a significant risk to residents due to its location in a 'Very High Fire Hazard Severity Zone.' The project would add approximately 70 residents to the area and remove nearly 367 protected trees. The City Council approved the project despite concerns over emergency access and evacuation impacts.
The petition claims that the City Council's decision was made despite overwhelming evidence of public health and safety hazards. A hearing on the lawsuit is set for January 2027. The Loma Prieta Chapter of the Sierra Club had also issued a petition earlier this year, urging the local government to reverse its project approval on similar grounds.
Burry argued that the project relies on the 'builder's remedy' loophole, which allows developers to bypass local zoning restrictions if at least 20% of the housing units are designated as affordable. The project would include single-family homes, roads, and public utilities on a 72.45-acre wooded site.
