(To read more on the multifamily market, click here.)

MILLBRAE, CA-Hearthstone, a San Rafael, CA-based institutional investor focused on residential, is acting as the money partner for the development of Millbrae Town Plaza. Expected to break ground next spring and open two years later, the project includes 110 condominium units and an undetermined amount of retail on about 1.6 acres.

The site address is 1355 El Camino Real. The development is south of Millwood Drive and east of the Green Hills Country Club. The four-story community will sit on a two-story subterranean garage and have 97 units on the upper floors and 13 live-work spaces on the ground level.

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