Ground Broken For Redwood City Multifamily
- Jan 11, 2013
Redwood City, Calif.—Work has begun on 201 Marshall, a 116-unit, seven-story apartment property in Redwood City, Calif. The developer, Raintree Partners, acquired the site directly from the seller in early 2012 in an off-market deal after entitlement for the project had been completed.
201 Marshall will contain studios, one- and two-bedroom units. TCA Architects designed the property, which will feature open-concept units, as well as loft-style units. It will also include a bike repair workshop and bike lockers, telecommuting center, outdoor communal dining and an roof deck with an indoor/outdoor lounge area.
Redwood City is the county seat of San Mateo County, south of San Francisco, and is known as home to tech companies Oracle and Electronic Arts. 201 Marshall is the first large project approved under Redwood City’s Downtown Precise Plan, whose stated goal “to restore Downtown as the indispensable hub of the City where a mix of diverse services, conveniences, experiences and lifestyle choices.” The idea is to create a downtown that includes a mix of housing, retail and office space, along with access to public transportation.
According to Jason Check, Raintree’s director of development, early last year his company contacted Zipcar to encourage the car-sharing company to expand into Redwood City. Not long afterwards, Zipcar did just that, and has a location across the street from 201 Marshall. A Caltrain station is also within walking distance of the property.
The development will add to Raintree’s existing portfolio of 16 multifamily property in California, consisting of more than 2400 units. Raintree currently has three other Bay Area projects in development, and says it’s pursuing other potential developments statewide.