Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





NORTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
Daly City Site Acquired for Development of High-Density Housing

3/21/17

In development news out of the Bay Area, AMG Development picked up a 1.15-acre, vacant parcel located in Daly City on which they plan to construct a 206-unit, seven-story high density residential project. The site, which is located at 4619 Brunswick in close proximity to the Daly City Bay Area Rapid Transit (BART) Station, was sold by a national institutional seller.

The project will feature res units with an average size of 403 sf, and will also include 59 parking spaces. It will serve the significant demand created by the limited housing in close proximity to San Francisco and other major employment centers in Silicon Valley.

AMG Development is a leading developer of bond financed senior and BMR housing. Bruce Paris of CBRE’s Capital Markets based in the San Francisco Peninsula, arranged the sale on behalf of a national, non-profit owner.

The site is subject to a number of overlay planning districts and required numerous governmental approvals to include architectural, massing, access and easement relocations, according to Paris. The necessary governmental approvals included a general plan amendment, zone change as well as conditional use permit.

“This was a very complex entitlement driven property, and we were able to generate numerous offers for this unique development site,” said Paris. “Ultimately, AMG’s offer, track record and plan were seen as the most advantageous option for AMG, the owner and the community,” said Paris. “With the majority of available development land on the Peninsula being sought after for traditional “market rate” housing in recent years, it’s very unique to have a site of this size and ocean view orientation be developed with such high density and in a 100% affordable TOD format. This well-conceived community serving project will fill a significant void in the affordable housing marketplace.”

At the time of sale, the property was completely vacant and had never been previously developed, despite the surrounding gentrified housing and retail product types. “Large land sites on the Peninsula are in short supply, and the majority of such sites that have been or will be available in the future, are typically redevelopment, surplus or former public facility-use properties,” said Paris.






Return to the Archive page


 
 
 
 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media