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6/11/15
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The Peninsula Corridor Joint Powers Board (PCJPB) has selected Sares Regis Group of Northern California (SGNRC) to enter into an exclusive negotiating agreement to develop a 2.7-acre site at the doorstep of the Hayward Park Caltrain Station in San Mateo. Sares Regis was selected by PCJPB, who runs Caltrain and is the site’s owner, through an RFQ/RFP process. The site is currently used as a parking lot serving the Hayward Park Cal train Station.
“We’re thrilled to have been selected as developers for the site,” said Ken Busch, SRGNC’s Senior Vice President of Residential Development, who will lead the project. “Given its proximity to the train station, we envision a transit oriented multi-family apartment complex on the site, and will also work with Caltrain to meet their future operational needs at the location.”
SRGNC is proposing 100-150 apartments at the site, which sits immediately adjacent to the “Station Park Green” development on Delaware St that includes 599 apartments plus retail space. If negotiations are successful, the parties will enter into a ground lease and the development application would be processed through the San Mateo city planning department.
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