The Adjacent Buildings Will Offer 500K of New Office Space
SUNNYVALE, CA – March 30, 2021 – Last night, the Sunnyvale Planning Commission approved plans for CityLine Sunnyvale to develop two office buildings with ground-level retail space on the former Macy’s parcel in downtown Sunnyvale. Located between Taaffe and Murphy Avenues, the buildings will be separated by a public pedestrian plaza and will each offer approximately 250,000 square feet of office space, 25,000 square feet of ground-level retail slated for restaurant and entertainment uses opening to the plaza, and 13,000 square feet of outdoor space that includes terraces and step backs that articulate the massing of the structures. An underground parking structure will offer 786 spaces, six percent of which will be wired or prewired for electric vehicles.
The two office buildings will be designed for post-COVID work environments and will feature mechanical systems that will provide employees access to fresh air and ample outdoor space. The buildings are targeting LEED Gold certification.
This approval comes on the heels of the January approval of an adjacent 12-story, mixed-use project at 200 S. Taaffe Street that will include 479 homes, 30,000 square feet of retail, and a new, public open space at Redwood Square which will function as the “living room” of Downtown Sunnyvale. Both projects will be developed and constructed in tandem.
This office project is the latest slated for phase two of CityLine Sunnyvale, which will redevelop four parcels in Sunnyvale’s Downtown Core into additional residences, ground-level retail, and office space. CityLine Sunnyvale is developed by STC Venture, LLC, a joint venture between Sares Regis Group of Northern California (SRGNC) and Hunter Properties.
“We’d like to thank the Planning Commission, Mayor Klein, Vice Mayor Hendricks, the Downtown Association and the Chamber of Commerce for giving us the green light to move forward with these transformative projects,” says Josh Rupert, Director of Development at Hunter Storm. “Having these office buildings approved soon after our nearby mixed-use project will allow us to develop both of these blocks simultaneously and deliver them in a similar time frame. We’re making great progress with our long-term vision for the transformation of downtown Sunnyvale and are loving to watch this neighborhood grow as more projects are delivered each year.”
CityLine Sunnyvale aims to enliven downtown Sunnyvale as an active, pedestrian-oriented, mixed-use district featuring new residences, a large public plaza, shopping, entertainment options, and office space planned across 36 acres. A Downtown Specific Plan approved last year allows for a buildout of an additional 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 198 new apartments and hundreds of thousands of square feet of new, leased retail space within walking distance to Caltrain, including the recently opened Whole Foods Market and an AMC Theaters. An additional 75 residences are due to open Summer 2021 and retail tenant improvements remain under construction across the project.
Community benefits to be provided to the City of Sunnyvale through the Development Agreement approved last summer include a $10.6M contribution to the Sunnyvale Community Benefit Fund, up to 88 below-market-rate residences, the construction and maintenance of the Redwood Square public plaza, installation of LED outdoor lights and streetlights, three additional years of the Winter Ice Rink, and the construction of additional public parking and defined pedestrian walkways for shoppers and visitors to downtown 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.
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.