Bay Meadows, San Mateo’s Progressive Urban Village on the Caltrain Line, Sells Out Phase One Release of Homes at Two Neighborhoods

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Over 700 Homebuyers Tour Highly Anticipated Transit-Oriented Development Since Community Grand Opening Resulting in Stunning Sales

SAN MATEO, Calif. – March 18th, 2013 – Stockbridge and Wilson Meany have announced that the Phase One release of homes at Bay Meadows’ first two neighborhoods have sold out.  The sales event for pre-qualified home shoppers took place the morning of their March 16th Welcome Center Grand Opening, at California’s largest Transit Oriented Development (TOD), now rising along the Caltrain line in San Mateo.  The Phase One release included 10 residences in the Amelia and Landsdowne neighborhoods, by homebuilders TRI Pointe Homes (TPH) and Shea Homes, respectively. The extraordinary response has quickly made Bay Meadows one of the most successful new home communities in California with over 700 visitors on site this week, and 6,500 new visitors to the website.

Designed to address the growing market for accessible and responsible housing in the Bay Area and Silicon Valley, Bay Meadows is the new urban village between San Francisco and San Jose on the Caltrain line. Homeowners will enjoy the existing conveniences of adjacent Whole Foods, Hillsdale Caltrain Station, Hillsdale Shopping Center and local retail and restaurants on 25th Avenue.

“The Bay Meadows community offers an innovative and sustainable new way to live, in response to what the Peninsula market has been demanding for some time,” said Janice Thacher, partner at Wilson Meany. “TRI Pointe and Shea Homes have worked very hard to bring this community to life, and have offered incredibly attractive pricing for incredibly smart living, inside and out. Their progressive approaches to design and modern living are perfectly aligned with Bay Meadows. We urge anyone interested to ‘get on board’ and join our interest list to learn more about life at Bay Meadows, and the release of the second phase of homes.”

“Here, mobility and aspiration have a long history,” said Chris Meany, partner at Wilson Meany. “In its earliest days, Bay Meadows was the site of an airfield. The land then became home to Bay Meadows Racetrack, a place passionate about the pursuit of glory and achievement. Now, the evolution of mobility culminates in this new urban village at the rail station, and continues a legacy of forward thinking, progress, energy and aspiration for those looking for an inspired way of life.”

Setting the standard for people who want to live in a comprehensively sustainable and environmentally friendly atmosphere at the forefront of innovation and comfort, TRI Pointe Homes’s Amelia, is a 63-home neighborhood of two- to four-bedroom townhomes replete with porches and balconies while Shea Homes’ Landsdowne residences will be composed of two-, three- and four-bedroom homes oriented towards the lush greenery of Bay Meadows’ 12-acre park.  Landsdowne and Amelia residences were designed by KTGY Architecture + Planning. Bay Meadows will also feature five LEED-certified office buildings, The Nueva High School, a traditional town square and main street retail.

“The concept of Bay Meadows’ comprehensive sustainability is something that really speaks to us – being able to live in a real community outside the city with grocery and dining options within walking distance, yet remaining proximate to work in San Mateo, and the culture of San Francisco, is what truly inspired us to buy here,” said Ken Young, new home owner at Shea Home’s Landesdowne. “We were immediately drawn to the unique living and brand new construction that Bay Meadows provides, and our experience of working with the Bay Meadows & Shea teams has made the process so enjoyable and easy. Everyone we have worked with has been exceptionally helpful. We could not have asked for more as we begin making memories at Bay Meadows.”

The Concept – Life in Motion
Bay Meadows was designed to afford homeowners the luxury of pulling into their driveway on Friday evening and not having to get into their car again for the weekend, whether they need groceries, want to have an afternoon picnic in a gorgeous 12-acre park, plant heirloom tomatoes on a plot of the community garden, or even hop on a train for a night out in San Francisco. Beyond this, residents 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. Conversely, there is also the option of walking to work at the adjacent LEED-certified office buildings. Bay Meadows brings the concept of a “forwardly mobile” lifestyle to the Bay Area.

Comprehensive Sustainability
Bay Meadows will be a comprehensively sustainable transportation-centered pedestrian village mid-way between San Francisco and Silicon Valley designed with state-of-the-art buildings redefining a new walkable urbanism. As a TOD, Bay Meadows’ sustainable initiatives will allow residents a dramatic reduction of car trips. In addition construction and design are as energy-efficient as possible – minimizing fossil-fuel consumption, recycling of concrete and asphalt, replanting trees, employing advanced storm-water systems and using sustainable materials.

“We are committed to designing a sustainable community, which includes thoughtful planning, distinct architecture and building practices that ensure all buildings are constructed using LEED or Green Point Rated criteria,” said Meany. “Thinking holistically about Bay Meadows and sustainability will create a unique community for people to live and work.”

Enhancing the overall green environment of Bay Meadows are three public parks totaling 15 acres, a community garden, and various open spaces throughout the property. The completed TOD will include housing, employment opportunities, Main Street retail and recreation. The final development will include approximately 1,100 residential units, up to 1.5 million rentable square feet of office space and approximately 90,000 square feet of retail space. Bay Meadows is designed for how people want to live now.

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. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliated advisor have approximately $5.2 billion of assets under management (as of September 30, 2012) 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.stockbridgerealestate.com

About TRI Pointe Homes
Founded on over a century of combined industry experience, TRI Pointe Homes inspires trust in all its relationships, from homebuyers to industry partners. By operating entrepreneurially, TPH exceeds customer expectations to deliver quality homes with exceptional value. Based on dynamic and progressive ideas, the company is driven by a passion for excellence and a commitment to satisfying homeowners completely by making their buying experience an outstanding one. A deep and diverse background in residential construction gives TPH the perspective to provide environmentally friendly, energy-efficient residences that anticipate families’ needs, and also maximize the value of real estate assets for landowners, investors and other participants. TPH’s experience extends from entitlement and land development to construction of single-family homes, high-density products, multi-use infill and master-planned communities. Their trusted ties to virtually all participants in the development process, reinforce capabilities that range from strategic portfolio evaluations and cost management solutions, to project and construction management. For more information visit www.TRIPointeHomes.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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