(Save the date: RealShare Apartments East comes to the Hyatt Regency Miami, Florida on February 26th, 2013)
REDWOOD CITY, CA-Raintree Partners, a Laguna Niguel, CA-based real estate investment and development company, has begun construction on a ground-up multifamily development project, called 201 Marshall. The project is a 116-unit, seven-story community next to the Caltrain station in the heart the City's expanding downtown.
201 Marshall is the first large project approved under Redwood City's Downtown Precise Plan. The Downtown Precise Plan has a stated goal “to restore Downtown as the indispensable hub of the City where a mix of diverse services, conveniences, experiences and lifestyle choices” designed to create a true downtown including ample public transportation, housing, retail and office space.
Raintree Partners tells GlobeSt.com that construction costs are $25 million, and points out that the development will add to Raintree's existing portfolio of 16 multifamily communities in California, consisting of more than 2400 units.
Jeff Allen, CEO of Raintree Partners, says that “Raintree has been actively acquiring existing properties over the last five years. More recently, we have also been seeking development opportunities. 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.”
Check back later today for more on this project.
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Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
