REDWOOD CITY, CA-A joint venture between Lennar Apartment Communities and Resmark Apartment Living recently reveals plans to develop an eight-story, 196-unit apartment building at 601 Main St. in downtown Redwood City. Construction is expected to begin in the first quarter of 2014 and be completed in early 2016.
Although the JV tells GlobeSt.com that it cannot reveal construction costs at this time, the apartment building will be located at the intersection of Main and Marshall streets—the gateway to the city's vibrant urban core with abundant restaurants, clubs and entertainment options, says the JV.
“This is an ideal location that offers a dynamic urban lifestyle option within walking distance to shops and restaurants and close proximity to the area's major employment centers and transportation corridors,” says Alex Waterbury, president of Northern California development at Lennar Apartment Communities.
“Resmark identified the greater Bay Area as a fit with our multifamily investment program and we are already an active investor in the region. This is a strong addition to our portfolio of infill properties in thriving urban centers,” adds Ziv Cohen, COO of Resmark Apartment Living.
Designed with seven floors of apartments more than 3,500 square feet of ground floor retail space, the building's architecture is sophisticated and contemporary, with large windows, setbacks and balconies and varying materials which create an articulated facade. The residences will average 901 square feet, ranging from urban studios to two-bedrooms with seven different floor plans. Residences will feature upscale finishes and fixtures including custom kitchens with stone counters and stainless steel appliances, tile bathrooms, a stacked washer and dryer and will be pre-wired for broadband Internet.
The building will also offer multiple gathering places and amenities. On the fourth floor overlooking Main Street, a 3,500-square-foot deck will provide residents with a lush oasis dotted with water features, fireplaces and lounge areas, barbeques and dining spots and a centerpiece pool and spa. In addition, adjacent to the deck will be a state-of-the-art fitness center and spacious residence lounge with a fully equipped gourmet kitchen for private parties or resident events. For the active San Francisco Peninsula resident, the building will offer indoor storage for approximately 100 bicycles.
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