SAN FRANCISCO-Trumark Urban has closed on two prominent development sites and a joint venture with Hillwood West, a division of Hillwood Investments, a Dallas-based development company. Hillwood West is committing to a substantial amount of equity necessary to build seven condominium projects with more than 600 units in desirable San Francisco neighborhoods with a total investment cost exceeding $400 million.
The first project proposes a redevelopment of the existing Dugoni School of Dentistry at 2155 Webster Street in Pacific Heights into 77 condominiums at a total cost of $155 million.
“We are proud to begin the redevelopment of this attractive property and tremendously improve the traffic in the area,” said Arden Hearing, managing director of Trumark Urban. “Our new residential plan works within the current building envelope and will reduce parking and traffic demands by more than 50%.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
