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6/20/17
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OC-based Raintree Partners is currently under construction on three mixed-use projects in California totaling more than $500 mil in value. The projects include: a 465-unit apartment and co-working property in Sunnyvale; a 109-unit multifamily and retail project in Dana Point; and a 92-unit multifamily, co-working, and kayak rental property on the waterfront in San Francisco.
“Mixed-use projects including authentic retail and food options as well as dedicated workspaces for residents have always been a part of great cities,” says Jason Check, Managing Director of Raintree Partners. “That said, there has been a rise in demand for these projects over the past five years, as communities seek to increase opportunities for engagement and connection among people and businesses, driving economic growth and delivering higher quality of life for community members.”
The new developments include:
Luxury Apartments and Co-Working in Silicon Valley:
Encasa development will feature 465 luxury apartment units and nearly 5.5k sf of dedicated co-working space that offers private offices, lounges and other features. The property is in close proximity to Downtown Sunnyvale and is minutes away from Moffett Park and the technology corridor, which consists of Google, Microsoft, Yahoo, HP, LinkedIn, and countless other major employers, along with shops, restaurants, entertainment venues, and more. The project also includes an extension of the John Christian Greenbelt, a pedestrian path and bike network that connects the property to local business hubs. The community also features multiple swimming pools, over 4k sf of spa-inspired fitness space, a community garden, communal kitchen and herb garden, a craft workshop, parks, private garages, bicycle repair rooms, and more. Raintree completed Phase I of the project in Q4 2016, and leasing is underway. Phase II of the project is in progress
First Major Development in Dana Point’s New Lantern District:
Raintree Partners recently broke ground on a new multifamily and retail development in Dana Point’s newly revitalized Lantern District. The project, called Prado West, will bring 109 new luxury residences and nearly 30k sf of new restaurants, shops, and public courtyard space to the city. The new Prado West community will offer thoughtfully designed one -, two- and three-bedroom residences in walking distance to the beach featuring private outdoor terraces, concierge services, on-site fitness, surfboard lockers, boat and paddle board rental, and more, as well as harbor, dining, grocery and retail options. The community’s ground floor retail space is planned as a walkable commercial storefront that will accommodate a mix of local restauranteurs and retailers in a casual coastal setting, and will include a public plaza with outdoor seating and community programming opportunities.
Waterfront Community in San Francisco’s Increasingly Residential Dogpatch:
The Martin, San Francisco |
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Located in San Francisco’s historic Dogpatch neighborhood, Raintree’s “The Martin” development includes 92 luxury apartments as well as co-working space and waterfront kayak rentals. The project is situated across the street from Crane Cove park and one of San Francisco’s few public waterfront access points. It offers unobstructed bay views, waterfront access, and close proximity to one of the nation’s strongest job markets (downtown San Francisco). Also included is nearly 3k sf of on-site communal workspace. Named after the Martin Brothers Shipping Company, which formerly occupied the project site, The Martin is situated along the Third Street light rail corridor adjacent to the Mariposa Street T-Line stop. The project is expected to be completed in summer 2017.
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