Bay Meadows Closes Third Land Deal with Shea Homes

New collection from Shea will Feature 74, 2-4 Bedroom Townhome Units Convenient to Retail, Public Transit, Parks and Amenities

San Mateo, CA – Bay Meadows has announced the closing of a land deal to a national homebuilder at the highly successful, master-planned community. Developer Wilson Meany along with Stockbridge Capital Group and Shea Homes, the largest privately-owned new home builder in the United States, have closed on the first phase of a 3.57 acre block that will feature 10 buildings with 74, 2-4 bedroom townhomes convenient to retail, public transit, parks, and a wealth of amenities for residents and guests at the thriving Bay Meadows urban village in San Mateo.

Meadow Walk, Bay Meadows’ newest community of townhomes, will be designed by KTGY Architects in a contemporary architectural style that lives in a classic manner. The new neighborhood will be situated between Persimmon Park and 31st Avenue, just two blocks from Caltrain and one block from Bay Meadows’ Town Square, a retail main street destination that will feature an array of shopping, eating, and entertainment options.  The Meadow Walk community of townhomes will overlook internal gardens and will be connected to a network of walking and jogging trails throughout Bay Meadows.

This is the third purchase at Bay Meadows by Shea Homes. The homebuilder is also responsible for completing Landsdowne, a 93 townhome community that sold out in record time, and the Brightside collection, an 80 townhome neighborhood that is having its grand opening on January 17, 2015.

“Shea Homes has been instrumental in helping to bring the Bay Meadows vision to life with elegant, contemporary homes that are a perfect fit for Bay Area residents who desire a comfortable, spacious, transit-oriented lifestyle,” said Janice Thacher, partner at Wilson Meany. “This announcement coincides with the grand opening of the Brightside collection, another project by Shea Homes, on January 17. People are already lining up for the opportunity to own a home in this centrally-located, walkable community with easy access to parks, green space and Caltrain.”

“Shea Homes is honored to partner once again with Wilson Meany and to participate in making their vision for Bay Meadows a reality,” said Layne Marceau, President of Shea Homes Northern California. “What was once a racetrack has quickly become a bustling, vibrant community that is providing much-needed housing stock in one of the Bay Area’s most desirable, mid-urban destinations. The new Meadow Walk neighborhood will mesh nicely with the existing communities, and it will connect seamlessly to the parks, playgrounds, gardens, bike paths, and easy transit options that define Bay Meadows.”

Bay Meadows celebrated a number of major milestones in 2014:

  •  The Nueva School high school campus opened.
  •  Two townhome collections sold out, with two more now selling quickly.
  •  Bay Meadows broke ground on the first of five Class A office buildings.
  •  Field House, Bay Meadows’ first apartment community, opened.
  •  The parks at Bay Meadows are alive with activity.
  •  Events at Bay Meadows were embraced by the community, including Movies in the Meadows, which was attended by more than 2,000 people.

Developer Wilson Meany and funding partner Stockbridge conceived the master-planned Bay Meadows community as a progressive response to the demand for a wide range of housing in a highly-desirable area.

About Bay Meadows
Bay Meadows was designed to give homeowners the luxury of pulling into their driveway on Friday evening and not have to drive again for the weekend. Whether they need groceries, want to enjoy a picnic in a gorgeous 12-acre park, plant heirloom tomatoes in the community garden, or hop on a train for a night out in San Francisco, residents can do it all car-free. They are also able to wake Monday morning and walk down the block to catch a train to an office in Silicon Valley, San Francisco or any destination served by Caltrain. Or, they can walk to work at the adjacent LEED-certified office buildings. Bay Meadows truly brings the concept of a “forwardly mobile” lifestyle to the Bay Area.

The Bay Meadows’ plan includes more than 1,100 units of housing, 1.5 million square feet of commercial space and 18 acres of parks. The community’s Delaware Street is envisioned as a social hub, an intersection of work and play that inspires spontaneity and interaction. This urban village represents the new downtown-style and environmentally-friendly living that residents and workers increasingly seek. In addition, Bay Meadows’ state-of-the-art construction and design are as energy-efficient as possible – minimizing fossil-fuel consumption, recycling concrete and asphalt, replanting trees, employing advanced storm-water systems and using sustainable materials.

About Wilson Meany
Wilson Meany is a privately owned real estate investment and development firm focused on urban infill locations in the Western United States. Wilson Meany brings more than 35 years of experience to its mixed-use, residential, retail and office developments, all of which reflect the company’s commitment to integrity, innovation and quality, including San Francisco’s renowned Ferry Building. Founded in 2003, Wilson Meany and its predecessor entities have long been recognized among the most respected and consistently successful investment and development firms in the San Francisco Bay Area. Collectively, Wilson Meany’s partners and professionals have developed over 10 million square feet, including some of the most innovative and distinctive properties in California. For more information visit www.wilsonmeany.com.

About Stockbridge
Stockbridge is a real estate investment management firm and Registered Investment Advisor founded in 2003. The firm and its affiliated advisor manage both commingled funds and separate accounts primarily on behalf of institutional investors, and also provide strategic advisory services with respect to real estate assets and portfolios. Stockbridge manages investments across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliated advisor have approximately $8.8 billion of assets under management (as of September 30, 2014) spanning all major real estate property types throughout the United States. The firm provides a full complement of expertise in acquisitions, dispositions, portfolio & asset management, finance, capital markets and accounting & reporting. Stockbridge is headquartered in San Francisco with offices in Chicago, New York and Atlanta. For more information visit www.SBFund.com

About Shea Homes
Family owned since 1881, the J.F. Shea Company has been involved in legendary construction projects including the Golden Gate Bridge, the Hoover Dam and BART. Since 1968, Shea Homes, an independent member of the Shea Family of Companies, has built some of the finest homes and master-planned communities for more than 73,000 families and is one of America’s largest privately owned homebuilders. In Northern California, Shea Homes brings insight, inspiration and a passion for excellence to every community they build, which is why they consistently receive industry awards and achieve a 96% customer approval rating. Recently, Shea Homes was named one of America’s Customer Service Champions by J.D. Powers & Associates – the only homebuilder named to this prestigious list of blue chip companies two years in a row. In addition, Shea Homes in Northern California ranked #1 in Customer Satisfaction for homebuilders in the Bay Area for 2009 and 2010, while also being honored as the 2010 Builder of the Year by the Building Industry Associate of the Bay Area. Shea Homes is honored to be acknowledged for its excellence as a home builder. These honors validate over a century of commitment to craftsmanship and customer service. For more information visit www.sheahomes.com

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