Luxury Rental Helps Meet Increasing Area Demand

By Natalie Dolce

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333 Main St. will help meet the increasing
housing demand on the Peninsula

REDWOOD CITY, CA-Sares Regis Group of Northern California has broken ground on Township, a new luxury apartment community being developed at 333 Main St. in Redwood City. The four-story building will consist of 132 luxury rental units, with a mix of 70 one-bedroom units, 59 two-bedroom units, and three three-bedroom units ranging from 630 square feet to 1,200 square feet. 

Sares Regis Group tells GlobeSt.com that construction cost is approximately $40 million. “We are very excited to build new luxury rental housing to meet the increasing housing demand on the Peninsula and contribute to the metamorphosis of downtown Redwood City,” explains Todd Regonini, chief development officer for Sares Regis Group of Northern California. “Our goal is always to add value to the communities where we develop new projects and Township enhances the physical and economic landscape of Redwood City.”

Situated near the downtown area of Redwood City and on the banks of Redwood Creek, the architecture is reminiscent of the grand lodges of the western US. The exterior finishes feature traditional materials including shingle, siding, stone and stucco with high efficiency vinyl windows.  According to Sares Regis, interior design will reflect a more modern and sophisticated feel throughout the units and building amenities. The apartments will also feature solid surface countertops, flat panel wood cabinets, and stainless steel appliances.

Each unit will have dedicated parking in an underground garage. Additional on-site amenities include a fitness center overlooking Main Street, a leasing center, and an interior courtyard that will feature a fireplace, sitting area and Zen themed art and water feature opening up to Main Street. There will also be a clubroom with contiguous outdoor kitchen and seating along with a raised spa overlooking Redwood Creek.

“In the past, development in Redwood City has turned its back to the creek. Working with the City, our design team took a different approach to address the creek and made it an amenity to the project,” explains Jeff Smith, vice president of Sares-Regis Group of Northern California. “As a part of our new community, we will be providing the first phase of a creek trail that when completed is designed to connect the bay front to downtown.”  

Sares Regis Group of Northern California is partnering with JPMorgan on the multifamily project. Comerica will serve as the construction lender, and the architect is Christaini Johnson Architects. Of the 132 units, 17 are proposed to be moderately priced below market rate rental units.

Categories: West, Multifamily, Development, San Francisco