SAN FRANCISCO, Calif. (August 16, 2018) – Greystar, a global leader in the development, investment, and management of multifamily housing, will be breaking ground on a new mixed-use community in Downtown Redwood City. The development will feature the first substantial slate of affordable units to be delivered within the Downtown Precise plan and will quadruple the number of affordable units completed under the Downtown Precise Plan to date. Located at the intersection of Diller Street and El Camino Real, the future project will also encompass a range of market-rate residences and retail space. The announcement comes on the heels of Greystar opening a new corporate office in Redwood City, located on Main Street.
“It has been exciting for us to be a part of Redwood City’s vision for downtown,” said Ali Warner, Managing Director of Greystar, Northern California and Pacific Northwest.
Slated to open in 2021 the mixed-use community will introduce 35 affordable units among a total of 350 residences and approximately 2,500 square feet of retail space. Residents of the new mixed-use development will enjoy a short walk to downtown Redwood City, the Redwood City Caltrain station and two major grocery stores, a Safeway located at Sequoia Station, and a Whole Foods located on El Camino Real and Jefferson. In addition to these neighboring amenities, the residents will be in close proximity to local employers including Box, McKinsey, Stanford University, Oracle, Kaiser, Electronic Arts, Facebook, Visa, Gilead, PlayStation, Sony and HP.
“As we continue to see healthy job growth and major employers setting roots across the greater Bay Area, we strive to deliver walkable, transit-oriented communities across the growing Silicon Valley market to alleviate the region’s housing shortage and jobs and housing imbalance,” said Jonathan Fearn, Senior Director of Development at Greystar, Northern California.
To better respond to, understand, and meet the City’s and Community’s needs, a new Greystar office will host community events such as barbecues, community meetings and more. Located on Main Street just outside of Downtown, this new office will provide Greystar with a location to meet community members and prospective residents to gain feedback and discuss current and future projects.
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing over 400,000 units in over 150 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with nearly $16 billion in gross assets under management including more than $7 billion of developments that have been sold or are underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com