Residents Respond to Mounting Housing Crisis
New homeowners are looking for housing in walkable locations near jobs, transit and services, as Silicon Valley faces an urgent demand for new housing.
MOUNTAIN VIEW, CA—If there was a doubt about the housing crisis in the Bay Area, one need look no further than the demand for a Mountain View condominium community. In less than four months of hitting the market, 1101 West has sold out. The project is one of the first new Mountain View condominium developments completed in many years.
Located at 1101 West El Camino Real, the 52 homes sold for an average of more than $1,000 per square foot. 1101 West was marketed and sold by Polaris Pacific. The project was built by Regis Homes Bay Area, a division of Sares Regis Group of Northern California, in partnership with Tricon Capital.
“Silicon Valley has never seen such an urgent demand for new housing, and we’re working hard to answer this call and deliver a number of new projects that will each offer their own sense of community and convenience for residents,” Dave Hopkins, senior vice president at Sares Regis Group, tells GlobeSt.com. “It’s been extremely rewarding to see the enthusiasm of homebuyers to 1101 West.”
The new homes are within walking distance to downtown and transit. Each home in the LEED-certified four-story community features spacious floor plans, electric vehicle charging and smart-home features such as learning thermostats and remote-controlled mechanical blinds.
“It’s clear that people are eager for new housing options near jobs, transit and services, and we’re thrilled by the enthusiastic response we’ve received,” says Hopkins. “The real reward for our efforts comes from the excitement of these new homeowners who seek a lifestyle anchored by high-quality housing in walkable locations.”
Regis Homes Bay Area and Sares Regis have a number of transit-oriented projects under construction throughout the Peninsula and Silicon Valley. Next up is The Ashton, a 73-residence condominium community in Belmont, CA at the corner of Davey Glen Road and El Camino Real. The Ashton will include a mix of one-, two- and three-bedroom flats and townhomes ranging from 749 to 1,808 square feet, featuring a fitness center, resident club room, outdoor patio with barbecue and private dog run. There will be 137 stalls in a one-level underground garage and 24 parking spaces on grade. Additionally, 4,990 square feet of ground-floor commercial space will front El Camino Real in a detached one-story building with dedicated parking. Sales are slated to begin later this year.