Market Report: Bright Spots
on surplus land already owned by these districts. In fact, it has just broken ground for the second phase of Casa del Maestro, which will consist of a three-story building with 30 units in San Mateo, and plans to start another 60 units elsewhere in the fall. Target rents for teachers are 50 percent or…
on surplus land already owned by these districts. In fact, it has just broken ground for the second phase of Casa del Maestro, which will consist of a three-story building with 30 units in San Mateo, and plans to start another 60 units elsewhere in the fall. Target rents for teachers are 50 percent or less of the market rate. The for-sale market on the Peninsula continues to move product, Dorfman reports. In fact, the developer just entitled a 1,600-unit project in north San Jose. Three different architecture firms will be designing the six buildings in this walkable community, which is located near a light rail station, a five-acre park and the Guadeloupe River. The 32-acre development will include both rentals and condos. To comment, email Teresa O’Dea Hein at thein@multi-housingnews.com
