REDWOOD CITY, CA— Raintree Partners has begunon the 116-unit 201 Marshall apartment complex here in the city’s expanding downtown area.
The seven-story project is the first development approved under the city’s Downtown Precise Plan, which includes uses for better public transportation, housing, retail and offices. The new building is going up at 201 Marshall Street, next to the Caltrain station.
Jeff Allen, CEO, said Redwood City is the perfect location for a new development, as the downtown area is undergoing a serious transformation into a vibrant mixed-use environment. “The city’s proximity to San Francisco and San Jose makes it a desirable location for young professionals who are commuting to these markets for employment, as well as for those wishing to live in an area with shopping, night-life, transportation, and expanding employment opportunities all within walking distance,” he said in a statement.
Raintree bought the property in February 2012 in an off-market transaction, after the company completed the entitlement for the project. The building is scheduled to open in early 2014. The community was designed by TCA Architects, and will feature a modernwith open-concept units, as well as loft-style units, upscale finishes, a bike repair workshop and bike lockers, telecommuting center, outdoor communal dining and an expansive roof deck with an indoor/outdoor lounge area.