PALO ALTO — A homebuilder has bought a portion of the former Fry’s Electronics site in Palo Alto, a deal that could smooth the way for the development of dozens of townhouses on the property.
Dividend Homes, through an affiliate, has paid $67.7 million for a site at 3200 Park Blvd. where the housing would be built, documents filed on Sept. 11 at the Santa Clara County Recorder’s Office show.
The residential developer wants to build 74 townhomes on the property, which totals 3.9 acres, according to public records posted with the Palo Alto Planning Department…