$300M Mixed-Use Project in the Works

SAN BRUNO, CA-TMG Partners and Regis Homes of Northern California will jointly develop a 20-acre, $300 million mixed-use project on a former Naval property in San Bruno.

In 2001, TMG and Regis acquired the site, which is located at 900-1000 Commodore Drive, from the U.S. Navy as surplus property. The City of San Bruno subsequently approved their plans for an upscale mixed-use development consisting of 500 hotel rooms, two acres of open/park space, on-site retail, office space and up to 900 apartments.

California Urban Investment Partners, a joint venture between real estate investment management and development firm MacFarlane Partners and California Public Employees’ Retirement System, has provided $68.7 million in the first phase of multi-family housing construction for the project, which is called The Crossing.