SAN MATEO, CA—Wood Partners has begunon a $43.7 million apartment complex. The 111-unit community will be located on a 2.4-acre site at the north end of Silicon Valley, near the Caltrain Rail Line. The project will be complete in spring 2014.
"This new project will provide transit-oriented housing to an area that has seen only one new apartment community since the early 2000s," said Brian Pianca, adirector for Wood Partners in San Francisco. "There is strong job growth in the area, but a significant lack of new apartments."
Wood Partner’s plans call for the creation of two three-story buildings. These will include subgrade parking, a fitness center, resident lounge, club room and amenity decks. The 111 units will average about 970 sq. ft. and include features such as hardwood floors, stainless steel appliances. There will be one-, two- and three-bedroom units.
"Our new apartments will appeal to a wide range of residents, from singles to couples to young families attracted to the project's central location on the San Francisco Peninsula, as well as the nearby freeway and rail access," Pianca said in a statement.