CityLine Sunnyvale Joint Venture Completes Murphy Avenue Extension

STC Venture, Sares Regis Group of Northern California, Hunter Properties, Murphy Avenue, McKinley Avenue, CityLine Sunnyvale, Historic Murphy Avenue, Whole Foods Market, AMC Theaters, The Flats, Downtown Specific Plan, Hunter Properties, San Jose International Airport

Murphy and McKinley Avenues Now Connected, Open to Traffic

SUNNYVALE, CA (MAY 14, 2018) – STC Venture, LLC, a joint venture between Sares Regis Group of Northern California and Hunter Properties, has completed the extension of Murphy Avenue connecting the heritage downtown district to McKinley Avenue—a major step in the multi-phase CityLine Sunnyvale downtown redevelopment project. The Murphy Avenue extension promises to play a large part in enlivening downtown as an active, pedestrian-oriented, mixed-use district featuring new residences, shopping, entertainment options, and office space planned across 36 acres.

A ribbon-cutting ceremony to celebrate the road’s opening took place this past Friday, May 11th, with Mayor Glenn Hendricks and others in attendance.

The Murphy Avenue extension will connect the Historic Murphy Avenue block to a new two-story building currently under construction at the corner of Murphy and McKinley Avenues that will house a Whole Foods Market and an AMC Theaters. Scheduled to open in 2019, the 52,000-square-foot theater and 52,000-square-foot grocery store will anchor the downtown district and help attract additional appealing retail and restaurant tenants to the area.

The road extension includes additional parking for shoppers and visitors to downtown Sunnyvale, as well as defined pedestrian walkways that have been missing for years. The parcel just east of the entrance to Macy’s is being converted to temporary handicap-accessible parking, the 50-space parking lot adjacent to Redwood Square has been reopened, and the surface lot east of Murphy Avenue has also been improved with new asphalt and striping.

“The opening of the Murphy Avenue extension will improve area circulation and is an important step in transforming downtown Sunnyvale into a thriving and dynamic area,” says Deke Hunter, President of Hunter Storm. “The additional parking recently made available will also make it easier for shoppers and visitors to continue to frequent downtown businesses while enhancing the pedestrian experience on the street.”

STC Venture recently acquired the nearby 177,000-square-foot Macy’s building, which will allow for more flexibility in developing a well-coordinated plan for the future of Murphy Avenue and downtown Sunnyvale.

Also nearing completion is The Flats at CityLine Sunnyvale, a 198-residence, mixed-use development located in three buildings along Washington and McKinley Avenues. Scheduled to be delivered in the Fall of 2018 as the first completed homes within the CityLine Sunnyvale project, The Flats will offer a collection of spacious, contemporary homes offering numerous indoor and outdoor amenities. The community will also provide 25 residences designated as affordable. The leasing office for The Flats, opening in September 2018, will be located at the corner of Washington and Taaffe Avenues.

STC Venture LLC is also completing the design review process with the City to build an additional 94 residential units along Iowa Street, the entitlements for which were approved in 2007. These include 75 one- and two-bedroom apartments and 19 three-bedroom townhomes.

Twenty million dollars of public improvements are currently under construction for CityLine Sunnyvale, including the addition of landscaping and street trees, the installation of new traffic signals, and the construction of landscaped medians. Target and Macy’s department stores continue to serve CityLine Sunnyvale, with parking for customers located in two existing garage structures and a surface lot east of Macys.

“Opening the Murphy Avenue extension is another exciting step toward expanding and connecting Sunnyvale’s vibrant downtown,” says Mayor Glenn Hendricks. “We are delighted with the progress STC is making to bring the full vision of Sunnyvale’s downtown to completion. We will see a transformation of this area in the coming years that will bring new housing, retailers, and jobs to the neighborhood, and we’ll be following each new development with excitement for the future.”

STC Venture, along with two other development firms, recently received approval to initiate a Downtown Specific Plan Amendment proposing to build additional residential units and office space within the Downtown Specific Plan area.

If approved, the amended Downtown Specific Plan may include a “main street” along the new Murphy Avenue as well as a new active public plaza bounded by diverse retail that will enhance and support an already vibrant downtown area. The plaza will incorporate existing heritage redwood trees and add public open spaces, picnic areas, play areas, and seating which can flexibly be used for both private and public functions. As envisioned, the plaza would be a community gathering point for residents, workers, and visitors. James Chung of Cushman & Wakefield’s San Jose office is coordinating retail leasing for CityLine Sunnyvale.

About Sares Regis Group of Northern California
Sares Regis Group of Northern California and its affiliates, Regis Homes Bay Area and Regis Contractors Bay Area, are regional companies based in San Mateo, California.

As leading developers and managers of commercial and residential real estate in the western United States, the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development. Since its inception, the company has acquired or developed approximately 46 million square feet of commercial properties and 20,000 multifamily and residential housing units. For more information, please visit: www.SRGNC.com.

About Hunter Storm
Hunter Storm, the development arm of Hunter Properties, is a commercial real estate development firm with an emphasis on ground-up construction, repositioning of assets, and value-add improvements. Hunter Properties was founded in 1960 and the current partners, Deke Hunter and Edward Storm formed Hunter Storm in 1986, with Curtis Leigh joining the team in 2004. The company enjoys a strong track record by focusing its efforts locally with all major projects located in the San Francisco Bay Area.

This allows the principals to leverage their market knowledge and expertise evenly across three product disciplines. Recent award-winning projects include Crossing 900 in downtown Redwood City, @First in San Jose which is a mixed-use project of over 1 million square feet, Bass Pro at Almaden Ranch and Village Oaks in South San Jose. Current developments include Coleman Highline a transit-oriented development of over 1.5 million square feet across from San Jose International Airport.

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