“The entitlement of phase I is a tremendous milestone that marks the culmination of many years of collaboration between our firm, the Gasser Foundation and the city of Napa,” explains Shawn Guttersen, a partner at BLT Enterprises who was integral in securing the entitlements for the project. “This is a historically strong market that has recently been defined by high rents and extremely low, sub-2% vacancy rates. Our planned development marks the largest influx of housing in the city in the past five years. We are truly committed to serving the housing needs of the Napa community as a whole, and we are eager to begin development of this exceptional project.”

Vista Tulocay will be situated on a currently vacant 20-acre parcel adjacent to the Napa River and within biking distance to the downtown core. The apartment community will have unobstructed views of the Napa River, a public trail network and include a bridge over Tulocay Creek, providing direct connection to the recently completed retail and entertainment center anchored by Century Theaters.

“The location of Vista Tulocay is ideal for any Napa resident seeking the quintessential community environment,” says Solomon. “The project is in close proximity to a vast array of retail and restaurant options, and is just a mile and a half from downtown Napa, providing future residents with a variety of social and nightlife options. In addition, the nearby Napa River Trail caters to those who enjoy an outdoor, active lifestyle.”

Vista Tulocay will feature a number of active lifestyle amenities, including a community center, fitness center and various pools. Phase I of the development will have 77 one-bedroom, 186 two-bedroom and 11 three-bedroom units, as well as eight three-bedroom townhomes. BLT Enterprises plans to integrate ample guest parking with a mixture of garages, carports and open parking lots to accommodate up to 485 vehicles.

Solomon tells GlobeSt.com: “As long-term owners, we are constantly looking for markets that are positioned to perform well over time and Napa is one of those markets. The increasing demand for multifamily product, coupled with the lack of available supply, will allow us to capitalize on the extremely low vacancy and high rent growth throughout the region. Our ability to recognize the strength of this market early on, acquiring the site in late 2013, and from there, securing entitlements, is a true testament to our forward-looking approach. This will be one of the largest residential developments to hit the Napa region within the last several years and will satisfy a deep need in the community for quality housing options.”

Headquartered in Santa Monica, CA, BLT Enterprises was founded in 1984 and specializes in the acquisition, entitlement, development, operation and property management of industrial, office, retail, residential, mixed-use and special-use properties. The firm has developed or acquired more than $2 billion in assets to date.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

NAPA, CA—For every 1,000 new residents, only 200 building permits are approved each year, making Napa in desperate need of infill housing. Relief is on the way in the form of development, Vista Tulocay, which should accommodate a good portion of residential demand, at least for the near term.

The planned development of phase I of the 500-unit multifamily community is expected to fill a deep void in this city's housing market, according to developer BLT Enterprises. The development will occur in two phases, with phase I, which was recently approved by the Napa City Council, including 282 apartment units on approximately 12.5 acres. BLT Enterprises plans to begin development on this phase immediately.

“Napa is in dire need of new housing options,” says Rob Solomon, chief development and legal officer for BLT Enterprises. “Based on the growing need for quality housing in the region, we were able to demonstrate the strength of our planned project, as well as the benefits this development will deliver to the city of Napa.”

Phase I of Vista Tulocay is planned to include nine three-story buildings situated just off Soscol Avenue, Napa's major thoroughfare. Phase II, which is currently being designed and will be presented to the city for approval in the near future, is planned to include between 98 and 218 additional residential units on eight acres.

“The entitlement of phase I is a tremendous milestone that marks the culmination of many years of collaboration between our firm, the Gasser Foundation and the city of Napa,” explains Shawn Guttersen, a partner at BLT Enterprises who was integral in securing the entitlements for the project. “This is a historically strong market that has recently been defined by high rents and extremely low, sub-2% vacancy rates. Our planned development marks the largest influx of housing in the city in the past five years. We are truly committed to serving the housing needs of the Napa community as a whole, and we are eager to begin development of this exceptional project.”

Vista Tulocay will be situated on a currently vacant 20-acre parcel adjacent to the Napa River and within biking distance to the downtown core. The apartment community will have unobstructed views of the Napa River, a public trail network and include a bridge over Tulocay Creek, providing direct connection to the recently completed retail and entertainment center anchored by Century Theaters.

“The location of Vista Tulocay is ideal for any Napa resident seeking the quintessential community environment,” says Solomon. “The project is in close proximity to a vast array of retail and restaurant options, and is just a mile and a half from downtown Napa, providing future residents with a variety of social and nightlife options. In addition, the nearby Napa River Trail caters to those who enjoy an outdoor, active lifestyle.”

Vista Tulocay will feature a number of active lifestyle amenities, including a community center, fitness center and various pools. Phase I of the development will have 77 one-bedroom, 186 two-bedroom and 11 three-bedroom units, as well as eight three-bedroom townhomes. BLT Enterprises plans to integrate ample guest parking with a mixture of garages, carports and open parking lots to accommodate up to 485 vehicles.

Solomon tells GlobeSt.com: “As long-term owners, we are constantly looking for markets that are positioned to perform well over time and Napa is one of those markets. The increasing demand for multifamily product, coupled with the lack of available supply, will allow us to capitalize on the extremely low vacancy and high rent growth throughout the region. Our ability to recognize the strength of this market early on, acquiring the site in late 2013, and from there, securing entitlements, is a true testament to our forward-looking approach. This will be one of the largest residential developments to hit the Napa region within the last several years and will satisfy a deep need in the community for quality housing options.”

Headquartered in Santa Monica, CA, BLT Enterprises was founded in 1984 and specializes in the acquisition, entitlement, development, operation and property management of industrial, office, retail, residential, mixed-use and special-use properties. The firm has developed or acquired more than $2 billion in assets to date.

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.