The Alexan will offer 144 apartment homes located within walking distance of downtown.
DANVILLE, CA—Although the town previously lacked class-A residential and affordable for-sale product, Danville has now embarked on a positive trajectory. A new residential rental community, the Alexan Downtown Danville, will offer 144 luxury apartment homes located within walking distance of the historic downtown area.
The new $90 million apartment community located at 375 Diablo Rd. commenced framing and is scheduled for completion in summer 2020. The project is being developed by Trammell Crow Residential.
“This is the first apartment development of scale that has been approved by the Town of Danville in decades,” said Bruce Dorfman, Trammell Crow's senior managing director. “Danville is one of the East Bay's most prestigious and supply-constrained communities. The existing apartment stock is very limited and does not contain any class-A product and with an average vacancy of 1%, renters have very few options. Pair that with the lack of affordability of for-sale housing, and Alexan Downtown Danville will provide a favorable option for first-class living in a highly sought-after walkable downtown location.”
According to Dorfman, Trammell Crow Residential is working with the town to build a pedestrian bridge over San Ramon Creek to provide a direct link from the new apartment community to downtown, the public library, Danville Community Center, schools and other public amenities. Residents will also have access to shopping, restaurants, services, entertainment, museums and parks.
“The site's current WalkScore (at 379 Diablo Rd.) is 82: very walkable, so most errands can be accomplished on foot,” Dorfman tells GlobeSt.com. “WalkScore also gave the location a score of 77 for being very bikeable. Once the pedestrian bridge is completed, which is planned to coincide with the completion of the Alexan Downtown Danville, we expect the WalkScore to increase.”
Situated at the intersection of Diablo Road and Interstate 680 on 3.75 acres, Alexan Downtown Danville will offer access to the East Bay's major job centers as well as the Walnut Creek BART station less than 10 miles north of the site. The 9 million-square-foot Bishop Ranch office park in San Ramon is four miles south on Interstate 680.
“This project will allow Danville to achieve its workforce housing numbers, but more importantly, it will allow 144 families to appreciate the comfort and safety this town offers its residents,” said Robert Storer, Town of Danville mayor.
Danville's community of nearly 48,000 people provides a small-town atmosphere and highly rated schools. Furthermore, Danville was once again named the safest city in California, according to SafeWise.
Another amenity in Danville and near the Alexan is the home of Eugene O'Neill, the only Nobel Prize-winning American playwright. He wrote the three plays now generally considered his best work while living at Tao House (now the Eugene O'Neill National Historic Site). The Eugene O'Neill Foundation, Tao House promotes the vision and legacy of O'Neill through numerous educational, artistic and research programs at the center and in the community.
Alexan Downtown Danville residential units will offer finishes more frequently found in custom single-family homes. The apartment community's amenities include a clubhouse with a lounge, conference room and business center, fitness center, and a package concierge. Outdoor amenities include a pool and spa, fire pit, an outdoor kitchen, grill stations and dining area, a children's play area, pet park, and vista overlooking the adjacent San Ramon Creek. Alexan Downtown Danville will also have gated private subterranean parking with electric vehicle charging stations.
The unit mix consists of a wide variety of floor plans including studios, one-bedroom, two-bedroom and three-bedroom apartments and townhomes, ranging in size from approximately 500 square feet to 1,600 square feet. According to Dorfman, more than half of the units will offer two- and three-bedroom configurations, which is not typical of apartment communities.
“Alexan Downtown Danville will cater to a more established demographic willing to pay for larger units and custom home quality finishes, but who still demand the flexibility, amenities and services of an apartment as opposed to purchasing or renting a home,” Dorfman tells GlobeSt.com.
Trammell Crow's equity partner for the Alexan Downtown Danville is Barings Real Estate Advisers and the construction lender is Wells Fargo. LCA Architects is the project architect, Gates + Associates is the landscape designer and Carlson, Barbee & Gibson is the civil engineer.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
