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SNK Taps MacFarlane for $170M Apartment Project

SAN BRUNO, CA-For the third phase of the Crossing development here, Phoenix-based SNK Realty taps the developer of the first two phases, locally based MacFarlane Partners.

By Brian K. Miller | Updated on May 09, 2007

(Read more on the multifamily market.)

SAN BRUNO, CA-SNK Realty is moving ahead with the third phase of the Crossing at San Bruno, a 20-acre mixed-use development across from Shops at Tanforan, a 1.1-million-sf retail center. The third phase will be a two-building, 350-unit multifamily development. To make it happen, Phoenix-based SNK has tapped locally based MacFarlane Partners, which invested in the first two phases on behalf of the California Public Employees’ Retirement System.

Unlike the first two projects, which were pure apartment projects, phase three will include 187 condominium units and 163 apartment units in two five-story buildings that will sit atop subterranean parking. Construction of the $170-million phase is expected to begin this fall and wind up by summer 2009. A future phase is slated to include a hotel and 20,000 sf of retail.

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