SAN FRANCISCO, May 21, 2015 – Trumark Urban celebrates the groundbreaking of two new residential developments in San Francisco – Rowan, located the city’s burgeoning Inner Mission, and Knox, in the ever-growing Dogpatch neighborhood. Breaking ground on the two mixed-use developments marks a significant moment in Trumark Urban’s growth trajectory. With projects in development in San Francisco, Los Angeles, and New York, the firm’s portfolio represents over one million square feet of real estate valued at over $1 billion. The double-groundbreaking event also coincides with the launch of the new Trumark Urban website www.trumarkurban.com.
Rowan and Knox: Double-Groundbreaking Tour
Trumark Urban celebrates the commencement of construction on the two San Francisco residential projects with a one-of-a-kind double-groundbreaking tour that brings together city and neighborhood officials, local residents, and key stakeholders.
Beginning at Rowan, a 70-unit mixed-use condominium development in the city’s Inner Mission neighborhood, the tour will unveil the building plans and new project renderings. Rowan will offer one-, two-, and three-bedroom units, vibrant communal spaces, and an impressive 3,200 square foot roof terrace with gas barbeques, vertical gardens, and stunning views of the San Francisco skyline. The tour will continue at Knox, a 91-unit mixed-use project in the vibrant and eccentric Dogpatch neighborhood. Knox will feature a variety of unit sizes, including several family-friendly three-bedroom units – a rare feature for the neighborhood. Intimate communal spaces and locally-sourced artwork, including a water feature created from a reclaimed bridge, will decorate the development’s interior.
Together, the developments at Rowan and Knox represent an investment of over $100 million. PCCP, LLC is the construction lender on both projects, with Hillwood as the equity partner. Both projects are scheduled for completion by late 2016.
A Growing National Profile
With offices in San Francisco and Los Angeles, Trumark Urban continues to acquire development sites throughout California, New York, and other global gateway markets. In March 2015, the firm broke ground on TEN50, a 151-unit luxury high-rise condominium tower in downtown Los Angeles. In San Francisco, construction continues on The Pacific, the high-profile former dental school located in Pacific Heights that boasts sweeping Golden Gate Bridge views; Amero, a boutique residential property in the city’s Cow Hollow neighborhood, was completed in 2014. Through the company’s various developments, Trumark Urban will create over 2,500 new jobs nationally.
“In the next three years Trumark Urban will add over 1000 condos throughout San Francisco and Los Angeles. We have worked closely with city and community leaders, neighborhood stakeholders and local residents to ensure that we are true partners and create developments that respect and enhance the unique neighborhoods that our projects call home,” stated Arden Hearing, Managing Director.
Think Human: Community Enhancement in Action
As part of Trumark Urban’s ongoing commitment to philanthropic activity, the groundbreakings at Rowan and Knox will highlight several of the key community efforts, part of the company’s “Think Human” initiative. These efforts include forging relationships with community and neighborhood improvement groups at each Trumark Urban development, along with a global partnership with CharityWater.org. Representatives from Friends of Franklin Square, a community organization that supports a neighborhood park near Rowan, along with a spokesperson for the revitalized Dogpatch Playground located near Knox, will also speak at the groundbreaking ceremonies. Through their partnership with CharityWater.org, Trumark Urban has committed to building a well for every 50 homes the company constructs. The company’s philanthropy efforts include:
- Over 700 volunteer hours dedicated to community improvement projects
- Over $300,000 donated to city and neighborhood causes
- Over 20 CharityWater.org wells will be provided to communities in need
- Over 150 trees will be planted
About The Trumark Group of Companies
Trumark Urban develops high-density mixed-use projects in global gateway markets with a focus on core urban neighborhoods close to jobs, transit and local businesses. With offices in San Francisco and Los Angeles, the firm will build more than 1,000 condos over the next 3 years totaling over 1 million square feet of development with more than $1 billion in value. www.trumarkurban.com.
The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark has raised more than $460 million of equity and funded 25 projects since the depth of the recession in 2009. www.trumarkco.com
Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Its pipeline exceeds 2,000 lots in core in-fill areas of California, representing more than $2.8 billion in future revenue. www.trumarkhomes.com, TruBlu Blog, Facebook, Twitter, LinkedIn.
Trumark Communities is a residential land development platform focused on acquiring, developing and selling improved lots in master planned communities. Its current pipeline includes three master planned communities with a combined 2,100 lots that represent total projected revenue in excess of $500 million. www.trumarkcommunities.com.
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. www.trumarkco.com.