Redside Development Proposed 33-Unit Residential Development in Redwood City

Redside Development, Silicon Valley, Bay Area, El Camino Real, Royer Realty, Redwood City Planner Apollo Rojas, Planning Commission

By Michele Chandler

Portland-based Redside Development, which charged into Silicon Valley’s active residential construction market last year, has applied to build a new apartment complex in Redwood City, marking the company’s second Bay Area project.

Redside made a preliminary application this month to build a residential apartment complex on El Camino Real. The proposal includes merging three lots, demolishing the three existing commercial buildings and constructing a four-story, 33 apartment building that includes “two very low affordable units,” according to plans filed with the city in mid-November.

An existing building that houses a flower shop and laundromat would be torn down to make way for the new complex, as would a vacant liquor store and a Royer Realty Co. office, said Redwood City Planner Apollo Rojas. The three properties to be merged are located at 504 El Camino Real, 508 El Camino Real and 1047 Whipple Ave.

Royer Realty Co. is the current owner of the properties, Rojas said. Garrin and Brendan Royer are listed as the project’s applicants, along with Redside Development.

The complex would be bounded by Whipple Avenue to the north, El Camino Real to the east, Arch Street to the west and Hopkins Avenue to the south.

The 41,825-square-foot project at 504 El Camino Real also would include 16,500 square feet of commercial space, 88 vehicle parking spaces and a rooftop deck.

The proposal must undergo the city’s Environmental and Design Review process and be the subject of a public hearing before final approval can be given. “The project would go to the Planning Commission prior to adoption, because it is greater than 35 feet [in height],” said Rojas.

In addition, the city must double-check the number of affordable units proposed, as the developer requested a state density bonus and that designation requires that three of the 33 rental units be priced in the affordable range. The application lists just two units in that range, said Rojas.

Ankrom Moisan Architects, which has offices in Portland, Seattle and San Francisco, is handling the project.

In July 2016, Redside—a commercial real estate company that acquires, develops and manages multi-family residences—expanded its reach to the Bay Area when it purchased and renovated a vacant, 10-unit apartment building in San Mateo’s Beresford Park neighborhood at 1926 Ivy St.

The 1957-era building is now being leased as The Hedera. Improvements there included upgrading the shared laundry, patio and on-site parking; adding bicycle storage; new windows and doors; new landscaping; and updating the finishes in each unit to include new plank flooring, quartz countertops and stainless-steel appliances.

Since then, Redside partners Garrin Royer and Danny McGinley had intended “to broaden the company’s reach and begin looking at more projects in the Bay Area,” according to a company statement at that time. The partners expected to sell the redeveloped San Mateo two-story garden apartment complex “and move on to the next big thing,” the company’s statement said.

The 7,200-square-foot Hedera complex sold for $4.7 million in August 2017.

Other recent housing proposals moving forward in Redwood City include a plan for a low-income senior housing development to be located downtown.

Affordable housing developer MidPen Housing Corp. was selected early last year to complete the $41 million project, which is located at 707 Bradford St. and is being developed in partnership with the city on what is now mostly vacant, city-owned land.

Under the plan, Foster City-based MidPen Housing—a non-profit developer, owner and manager of affordable housing—plans to construct a seven-story, 117-unit residential development for very low-income seniors on four city-owned land parcels. The proposed development will be bordered by Main Street to the east, Jefferson Avenue to the west and Veterans Blvd. to the north.

Rents for the studio, one- and two-bedroom apartments will range from $646 to $1,170 per month and will be available to seniors who earn up to 50 percent of the San Mateo County area’s median income, or about $52,650 for a family of two.

West Coast Commercial Real Estate News