Developer Plans 27 Acre Mixed-use Project in Dublin

Danville, Dublin real estate, Blake Hunt Ventures, The Green, East Bay real estate, Stockbridge, Bay Area real estate news

Blake Hunt Dublin real estate The Registry

By Jon Peterson

UPDATED: May 13, 2014

A development company called BHV/Stockbridge Emerald Place Land Company, LLC is planning on a mixed-use development project in Dublin called The Green. The East Bay project is led by Lennar Commercial’s Jerry Hunt with San Francisco-based Stockbridge Capital Group as its equity partner.

[contextly_sidebar id=”62a9a94428373d994f0890fa06b2d2ae”]The project covers 27.5 acres and is located on the south side of Martinelli Way between Hacienda Drive to the east and Arnold Drive to the west. Interstate 580 forms the southern boundary of the site.

The transit-oriented mixed use development will include a combination of housing and retail, with a substantial restaurant component focused around green space. “We think that the location of the property is an ideal fit for housing near a major transportation hub and keep more cars off the freeway. Our sight is within a 10-minute walk to the BART station in Dublin, which will give people who are living in the housing a chance to take public transportation to work,” says Jerry Hunt, regional vice president of Lennar Commercial.

The Green still has some hurdles to overcome before the project will be started. The draft environmental impact report for the development has just been published by the City of Dublin. The comment period on this document runs through June 23rd.

“After the public comment period closes in June, staff will prepare responses received, and the final SEIR will be reviewed by the Planning Commission and City Council concurrently with the project application. Staff and the applicant are aiming to bring the project forward for consideration this fall,” stated in an e-mail by Lori Taylor, economic development director/public information officer for the City of Dublin.

Construction of the development is aimed for sometime next year. “I would think that the project would take 12 months to complete once we get started,” said Hunt. The development as it stands now calls for the development of approximately 400 housing units and 40,000 square feet of retail/restaurant uses.

“The homes that we are planning will be a mixture of townhomes and stacked flats. I would think that the project would attract two kinds of buyers. These would be a household with two incomes and no kids and empty nesters who are looking for a different kind of housing than they are currently living in,” said Hunt.

The retail component of the project will be dominated by a variety of restaurants and cafes, many with outdoor seating around the central greenspace activated by pedestrians and park-goers. A minority of related retail may unfold, but dining will be the main experience. The restaurants and shops would serve the residents of the housing and the community in large, as well. The development is projected to work as a complement to the Persimmon Place shopping center located across the street at the northwest corner of Hacienda Drive and Martinelli Way and to the Dublin market as a whole.

Persimmon Place is a 152,500 square foot retail development under construction by Jacksonville, Fla.-based Regency Centers. The $55 million project is anchored by a 40,000 square foot Whole Foods grocery store. It started construction in March.

This property has a three-mile trade area. More than half of the 105,421 population earns above $100,000 with an average household income of $131,142.

Map courtesy of Apple

West Coast Commercial Real Estate News