Exceptional 20-acre development opportunity in the heart of Penn Valley, featuring level topography, year-round Squirrel Creek, and a prime location within the Penn Valley Master Plan's highly sought-after Downtown Core. Zoned for up to 91 residential units, with additional potential for ADUs (subject to approvals), this remarkable property offers the rare chance to create a signature residential community in one of Nevada County's most desirable growth areas. The site benefits from outstanding access and circulation, including three separate access easements. Two newly recorded deeded easements and the original access easement through the adjacent Mobile Home Park satisfy County access requirements, and provide convenient ingress and egress from both Penn Valley Drive and Western Gateway Park. Ideally situated with excellent visibility from Highway 20 and within walking distance of downtown Penn Valley's restaurants, shops, services, and nurseries, the property combines small-town charm with exceptional convenience. Lake Wildwood, golf, recreation, and other local amenities are just minutes away, while the below-snow-line elevation offers year-round accessibility and appeal. The property's stunning natural setting is highlighted by majestic heritage oaks, mature tree cover, and the tranquil presence of year-round Squirrel Creek. Public utilities, including power, water, and sewer, are available, further enhancing the site's development potential. Whether envisioned as a premier active-adult community, thoughtfully planned residential neighborhood, or mixed housing development, this is a rare opportunity to acquire one of Penn Valley's most significant entitled residential development sites and bring a transformative vision to life.