GREENFIELD — Noble Home architectural firm owner Noah Grunberg, who leases roughly seven of the 32 acres surrounding Stone Farm Lane, said he plans to build two residential buildings containing 24 one- and two-bedroom condominiums.

Valley Community Land Trust, a regional non-profit that purchases and leases land for conservation and affordable housing, bought the land for roughly $995,000 over the summer before leasing portions to Noble Home, an architectural design firm from Shelburne Falls, and the Valley Housing Co-op for development.

Grunberg, whose architectural design style centers around arcology — the fusion of architecture with ecology and nature — said he plans to develop roughly 1.5 acres of the land he leases with a four- or five-unit building and another 18- or 19-unit building.

“These are condos, so each unit will be owned by their homeowner, and there will eventually be a condo association,” Grunberg said. “All the residents there will run the condo association, and the condo association will, in turn, be leasing the property from Valley Community Land Trust. It’s like a traditional condo association, except the association doesn’t own the land.”

In accordance with Grunberg’s lease, he said the condominiums must be sold or resold at or below their appraised value. He said he hopes to design the condos with energy-efficient features such as heavy insulation and berming the homes into the hillside — a practice that he described as “a good climate resiliency technique that’s been lost through the ages.”

“It’s not necessarily a low-income or affordable housing solution, but the land trust is trying to keep real estate at a reasonable value, so those are the restrictions that I’m working under,” Grunberg said. “It’s not subsidized housing and it’s not homeless housing, but it’s reasonably priced housing.”

Grunberg has not yet submitted plans to the city’s Zoning Board of Appeals, and clarified that his development is not yet set in stone. He said he intends to bring his plans before the ZBA in the spring.

Noble Homes’ lot shares the 32-acre area with its co-tenant, Valley Housing Co-op, which leased 25 acres of the land and purchased the two duplexes attached to it.

According to Valley Housing Co-op co-founder Saul Shanabrook, the organization, which currently rents to five tenants, aims to develop a housing community based on collaboration, self-organization and distributed authority. Shanabrook referred to the project as an “alternative” to traditional home ownership.

“We just wanted a structure to help support collective ownership of land that would allow people to engage at different commitment levels. It allows people who do have resources and means to contribute those resources and be compensated for them through lending, and allows folks who don’t have resources to still show up and be equal owners of the property,” Shanabrook said in October. “It was important to us that if we were to move in somewhere together or have a shared space, that it was a model that wasn’t excluding people who couldn’t afford home ownership. … That’s the nice thing about group equity cooperatives — they let people be equal members, even if they don’t have the resources to buy a home themselves.”

Anthony Cammalleri can be reached at acammalleri@recorder.com or 413-930-4429.