Trammell Crow Residential Breaks Ground on CA Luxury Development
- May 29, 2019
Trammell Crow Residential has begun development of Alexan Downtown Danville, a 144-unit luxury apartment community in Danville, Calif.
Situated at 375 Diablo Road and I-680 in Contra Costa County, the $90 million rental community is the first new apartment property of scale approved for Danville in decades. It is now being framed and is slated for completion in the summer of 2020.
(Recently, Trammell Crow Residential appointed FirstService Residential to oversee its 150-unit luxury rental community Carlisle & Vine in Dallas.)
“Given how few quality multifamily sites there are, if you have an opportunity to develop apartments in Danville, it is the right time,” Bruce Dorfman, senior managing director of Trammell Crow Residential, told Multi-Housing News.
“Further, Alexan Downtown Danville provides a walkable lifestyle in one of the East Bay’s most prestigious and supply-constrained communities. The site is a stone’s throw from Danville’s Historic Downtown District, which is filled with stores, shops and restaurants, as well as community facilities and schools.
“All this will be appealing to our residents. Alexan also offers convenient access to I-680 and the major East Bay job centers . . . Danville contains some of the highest-priced real estate in the area, and is ranked among the wealthiest towns in America.”
Paucity of development
Providing a small-town atmosphere with highly-regarded schools and outstanding quality of life, the town of Danville has seen scant multifamily investment, he added.
“Consequently, we have oriented our program and unit mix to provide housing for young families and single-parent households—demographics which few locations support,” Dorfman said. “The site is adjacent to San Ramon Creek, which provides an attractive setting. With the addition of a new pedestrian bridge that is simultaneously being built over the creek, there will be a direct connection from the Alexan Downtown Danville to the historic town and all its amenities.”
Among the attractions in that Danville Historic Downtown District are the public library, Danville Community Center, high-quality schools and other public amenities.
The Alexan Downtown Danville community is one of the significant multifamily projects on which Trammell Crow is currently working in California.
Reflecting town character
Trammell Crow Residential sought to ensure the final design of the community reflected Danville’s character and would be aesthetically pleasing to prospective residents.
The company therefore expended considerable time and effort designing the property to weave in distinctive architecture and to feature a wide array of amenities. Notable among these amenities are a large lap pool and spa.
“In addition, we configured the buildings to allow for larger units and have specified finishes only found in custom homes,” he said. “We believe that the residents will place a significant premium to live in the heart of Danville and in a nice, highly-amenitized and well-appointed rental community. We are targeting [delivery] within the next 12 months.”