(CONCORD, CALIFORNIA) – Hines, the international real estate firm, along with investment partner MetLife Investment Management, today announced the start of construction of The Grant, a mixed-use complex of 228 luxury apartments. Hines and MetLife have partnered on numerous projects together, and The Grant marks a continuation of the two firms’ longstanding history of successful partnership.
The Grant will include studio, one-bedroom and two-bedroom apartments ranging from 506 to 1,211 square feet, featuring high-end finishes and thoughtfully designed floorplans. Best-in-class amenities will include a swimming pool, roof deck, clubhouse, outdoor fitness areas, fire pits, bicycle parking and space for dogs, in addition to 328 parking spaces. The project will be comprised of two buildings separated by Clayton Road, with the north building consisting of 139 apartment units and ground-floor retail and the south building consisting of 89 units.
The project, spanning two adjacent blocks in downtown Concord, is conveniently located one block from both the Concord BART station and Todos Santos Plaza, the commercial and historical heart of Concord. With a Walk Score of 94, there are over 30 restaurants and retail options within a short walk of The Grant. The site is centrally located at the intersection of I-680 and Highway 242, allowing residents excellent access throughout the East Bay and to San Francisco.
“Today marks an exciting milestone for The Grant and we are thrilled to expand our multifamily portfolio in Concord. With its excellent amenities and irreplaceable location, The Grant will set a new standard for living in the East Bay,” said Hines Senior Managing Director George Clever.
Lou Kruk, managing director, real estate, MetLife Investment Management, said, “The Grant represents our latest multifamily development project in partnership with Hines, and it fits well with our overall multifamily investment strategy that we deliver for our investment management clients. The Grant will benefit from easy access to a wide range of amenities, convenient walkability and great transit access. We’re confident that these apartments will be an important addition to the local community, and will help support local jobs and businesses through the construction period and beyond.”
Hines has assembled an experienced team for The Grant, including, Architects Orange, design architect & landscape architect; Haven Design Studio, interior design; and Brown Construction, general contractor. Hines and its partners are mindful of the current impact of COVID-19 and through Brown Construction’s leadership, The Grant’s on-site team will be taking necessary safety measures into consideration as part of the construction process.
The Grant is expected to be completed in the third quarter of 2022. Leasing is slated to begin April 2022.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totaling over 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.