FOSTER CITY, CA-Sares-Regis Group of Northern California has started construction of the Plaza, a 307-unit development of work force apartments in which 20% of the units will be set aside to rent at below-market rates. Sares-Regis recently obtained building permits for the project, where Foster City civic and business leaders attended to discuss the positive impact the redevelopment of the Pilgrim/Triton area of Foster City will have on the community.

Designed by MVE & Partners, the project is due to be completed in 2013, with Devcon Construction as the contractor. The property's common area amenities will include a pool, a spa and a fitness center, a multimedia and club room, plus 17,000 square feet of commercial space will fronting the plaza.

The planning for the Pilgrim/Triton master plan has been in the works for more than five years and ultimately will include a total of over 700 residential units along with almost 300,000 square feet of commercial office space. A new park is also included in the 20-acre master plan.

Jeff Smith, vice president for Sares-Regis Group of Northern California's multifamily development division, notes that the new project is part of a plan to create a new neighborhood that replaces obsolete light industrial buildings. "Pilgrim/Triton will bring many new residents to the community and build a larger tax base to support community services," Smith said.

Mayor Linda Koelling commented, in an announcement regarding the project, "Since most of Foster City was completed in the 1970's, several areas along the Highway 92 corridor are ripe for redevelopment, including the Pilgrim/Triton neighborhood. It is rewarding to see the first phase of the 20-acre development begin with new work force housing."

Sares Regis Group of Northern California and its affiliates, Regis Homes Bay Area and Regis Contractors of Northern California, are regional companies based in San Mateo, and are affiliated with Irvine-based Sares Regis Group.