Bay Area Mixed-Use Development Breaks Ground
- Nov 27, 2019
Anton DevCo has begun construction on a mixed-use apartment community in Walnut Creek, Calif., with an expected completion date set for in 2021.
Located at 1910 N. Main St., Anton NoMA will comprise of 135 residential units and approximately 9,000 square feet of retail space. The units will range from studios, one- and two-bed apartments with 11 of them being rent-restricted as low-income housing.
The seven-story building includes a community room with a kitchen and a fitness center, a courtyard with a pool, spa, barbecue and firepit, a rooftop lounge with views of the nearby Mount Diablo, and two levels of underground parking.
Anton DevCo will also be using an organic material palate that will help the building earn LEED or Green Point certification for sustainability. Anton NoMa will also be built two blocks away from the Walnut Creek BART station and is also less than an hour away from the San Francisco area.
Cracking the Market in Walnut Creek
According to Trisha Malone, Anton’s chief investment officer, building new housing in California is the development company’s top priority. Brandon Dinon, Anton’s director of acquisitions, added that the city was an attractive location for Anton DevCo’s latest project. “Walnut Creek is a great market with consistent annual rent growth over the past few years and vacancy under five percent on Class A product,” Dinon told Multi-Housing News. “The city is an under-supplied marketplace with high average income and fantastic proximity to public transit and local amenities, in addition to having strong local job growth.”
Throughout California, Anton DevCo has built 60 apartment communities that total more than 9,000 units and currently owns and manages 24 communities. In August 2018, Anton DevCo’s 394-unit multifamily project in Menlo Park, Calif., received a $178.3 million refinancing loan from Capital One.