LAGUNA NIGUEL, CA—GlobeSt.com has learned exclusively that Raintree Partners is under construction on three California-based mixed-use projects including an apartment and co-working property in Sunnyvale, a multifamily and retail project in Dana Point and a multifamily, co-working and kayak-rental property in San Francisco. The projects in development by the Orange County-based private commercial real estate investment company total more than $500 million in value.

One of the new developments is Encasa, located in central Silicon Valley close to Downtown Sunnyvale, which will feature 465 luxury apartment units and nearly 5,500 square feet of dedicated co-working space that offers private offices, lounges and other features. The property is located near from Moffett Park and the technology corridor, which consists of Google, Microsoft, Yahoo, HP, LinkedIn and other major employers, along with shops, restaurants and entertainment venues. The project also includes an extension of the John Christian Greenbelt, a pedestrian path and bike network that connects the property to local business hubs. Raintree has created a 1.1-acre park in the middle of the project atop a previously unused utility easement.

“This is a prime location for Sunnyvale's growing population of professionals, and it is a very unique property,” says Rick Price, Raintree's VP of development. “The way Americans work has changed, and we are anticipating the needs of our residents by integrating thoughtfully designed work spaces into this new community.”

Encasa will feature both co-working and/or private office leasing. The community also features multiple swimming pools, more than 4,000 square feet of spa-inspired fitness space, a community garden, communal kitchen and herb garden, a craft workshop, parks, private garages and bicycle repair rooms. Raintree completed Phase I of the project in Q4 2016, and leasing is underway. Phase II of the project is in progress.

The company also recently broke ground on a new multifamily and retail development in Dana Point's newly revitalized Lantern District. The project, called Prado West, will bring 109 new luxury residences and nearly 30,000 square feet of new restaurants, shops, and public courtyard space to the city.

“This is the first major development in Dana Point's revitalization plan for its downtown Lantern District, and we are very excited to be working with the local community on this project,” says Jason Check, Raintree's managing director. “We are working very hard to ensure that the project is well-aligned with the overall community vision for the Lantern District.”

The new Prado West community will offer one -, two- and three-bedroom residences in walking distance to the beach featuring private outdoor terraces, concierge services, on-site fitness, surfboard lockers, boat and paddleboard rental, as well as harbor, dining, grocery and retail options, according to Check. The community's ground floor retail space is planned as a walkable commercial storefront that will accommodate a mix of local restauranteurs and retailers and will include a public plaza with outdoor seating and community programming opportunities. Justin McMahon and Barclay Harty of CBRE are managing commercial leasing for the Shops at Prado West.

Lastly, in San Francisco's historic Dogpatch neighborhood, Raintree's “the Martin” development includes 92 luxury apartments as well as co-working space and waterfront kayak rentals. “This is a fantastic location across the street from Crane Cove Park and one of San Francisco's few public waterfront access points,” says Check. The project includes nearly 3,000 square feet of on-site communal workspace, he adds.

Named after the Martin Brothers Shipping Co., which formerly occupied the project site, the Martin is situated along the Third Street light rail corridor adjacent to the Mariposa Street T-Line stop. The project is expected to be completed this summer.

Of the three projects, Check says, “Mixed-use projects including authentic retail and food options as well as dedicated workspaces for residents have always been a part of great cities. That said, there has been a rise in demand for these projects over the past five years as communities seek to increase opportunities for engagement and connection among people and businesses, driving economic growth and delivering higher quality of life for community members.”

Check attributes the recent increase in mixed-use developments to a shift towards a more urban, walkable way of life that is in demand across the nation. “People of all ages prefer walkable communities, and the convenience that comes along with them, now more than ever before.” He cites a 2015 survey conducted by American Strategies and Meyers Research in which 79% of respondents said that they place importance on being within easy walking distance of amenities. He explains, however, that a single project cannot support the wider vision that most cities are working to establish.

“There needs to be a critical mass of interesting uses to make a place great. Ideally, we will continue to find opportunities to provide housing where people can park their car for the weekend and enjoy the neighborhood—on foot. In these instances, a project's location becomes its most important amenity, especially when it is situated in an environment with the right energy.” Check notes that each of Raintree Partners' new developments meets these criteria.

Instant Insights /

Raintree is Developing $500M in MXD

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