The Towers Comprise 590,000 Square Feet of Office with Retail and 479 Luxury Apartments
SUNNYVALE, CA – JANUARY 27, 2022 – Yesterday, STC Venture, LLC broke ground on three new buildings in the heart of its Cityline Sunnyvale project, which aims to rebuild Sunnyvale’s central business district into an active, walkable, mixed-use area with new residences, shopping, entertainment options, and office space.
Sunnyvale Mayor Larry Klein was in attendance along with members of the Sunnyvale City Council to celebrate the start of construction on the three new towers, which comprise two seven-story office towers with approximately 590,000 square feet of rentable office, retail, flex, and outdoor terrace space and The Martin, a new, 12- story apartment community with 479 units, including 53 affordable homes. The new residential community will include a hospitality-level amenity package, as well as ground-floor retail and restaurant spaces. The completed project will include a public park that will function as the town square and gathering space for the new downtown. The Cityline Block 3 North office project will be both LEED Gold and WiredScore Gold certified, and the entire project will be Fitwel certified.
Cityline Sunnyvale is developed by STC Venture, LLC, a joint venture between Hunter Storm, Sares Regis Group of Northern California (SRGNC) and other institutional investors, who took over developing downtown Sunnyvale in 2016.
“Today’s groundbreaking launches the redevelopment of the central core of downtown Sunnyvale after being totally reimagined by the City, Sares Regis and Hunter Properties,” says Drew Hudacek, Chief Investment Officer of SRGNC, “Looking back at our progress over the last five years, we are grateful for the opportunity to transform this community in such a profound way—from delivering a new grocery store and movie theater to reconfiguring the heart of downtown itself, much has been accomplished. We’re excited to begin this stage of downtown Sunnyvale’s transformation.”
A Downtown Specific Plan approved in 2019 allows for a buildout of 817 residences and 709,000 square feet of office above 642,000 square feet of ground-level retail. STC Venture has already completed and delivered 273 new apartments and hundreds of thousands of square feet of new, leased retail space within walking distance to Caltrain.
“Downtown Sunnyvale is already seen as a destination, and these new offices and residential towers will be a welcome addition to this thriving area,” says Mayor Klein. “Our entire community will be able to enjoy the many existing and future amenities and businesses. It has been a pleasure to watch our downtown continue to evolve over the last few years, and I am excited for what’s to come.”
“These 590,000 square feet of new office and retail space will bring more jobs to the central core of Sunnyvale and boost business for all of the community’s business owners,” says Deke Hunter, President of Hunter Properties. “With Caltrain just blocks away, we are solidifying downtown Sunnyvale as a transit-oriented community that can attract visitors from throughout the region to work and shop here.”
The residential tower is designed by architecture and design company Heller Manus, known for its emphasis on sustainability and combating climate change through innovative design. The two office buildings are designed by the world-renowned architecture firm Gensler. Devcon Construction is the contractor for the office project and Build Group is the contractor for the residential portion. The new buildings are expected to be completed in late 2024.
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 over $7 billion and over 2,800 residential units under development. Since its inception, the company has acquired or developed 13.5 million square feet of commercial properties and 20,000 multifamily and residential housing units.
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, Village Oaks, Coleman Highline in San Jose, and Gateway Crossings in Santa Clara.