Sunset Eyes Office-to-Resi Redevelopment
The campus served as Chevron’s global headquarters until 2022.
Sunset Development Co. has filed plans to redevelop a 1.4 million-square-foot office campus in San Ramon, Calif., into a residential development.
Dubbed Orchards, the project will consist of three districts which will include 2,084 multifamily units, 426 single-family homes and a mixed-use component set to feature 125,000 square feet of retail, restaurant and office space, with a 2.5-acre park perched next to their confluence point.
The City of San Ramon expects the approval process to take roughly 12 months.
The project’s first phase will focus on the construction of the single-family district, named Orchards Neighborhood.
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The multifamily district will be located on 26 acres consisting of seven parcels. The buildings will rise between four and seven floors. Once completed, the community is slated to include market-rate and luxury units, as well as condominiums, affordable and senior apartments.
The mixed-use district will take shape on an 11-acre site comprising three parcels which may contain buildings with a maximum height of 85 feet. Alongside the ground-floor commercial space, the district will also include 619 multifamily units.
A shift to multifamily, away from office
Located at 6001 Bollinger Canyon Road, the office campus spans more than 91 acres and has access to Interstate 680. Downtown San Francisco is some 34 miles west, while San Jose’s city center is roughly 36 miles south.
The property served as Chevron’s headquarters up until 2022, when the oil company sold the campus back to Sunset for $174.5 million, Yardi Matrix data shows. Sunset had initially sold the asset to Chevron in 1981.
The company filed the development plan last week, while the City of San Ramon granted the developer’s rezoning request late last year, as part of its General Plan 2040. The future residential project will take shape within Bishop Ranch, Sunset’s 600-acre, master-planned development.
As of December, the Ranch had a pipeline of 1,000 multifamily units underway and another 9,000 were in the planning and permitting stages. One such under-construction project is Belmont Village San Ramon, a 185-unit senior housing development set to make its debut next year.
Redevelopment in metro San Francisco
Greater San Francisco’s under-construction pipeline held 14,935 units as of September, according to a Yardi Matrix report. Some additional 130,000 units were in the planning and permitting stages.
Another planned redevelopment in the metro was proposed earlier this fall. Prado Group and SKS Partners filed plans for the transformation of the former University of California at San Francisco campus in Laurel Heights, Calif., according to the San Francisco Yimby. Upon completion, the community would encompass 744 units.
