Livermore development An unentitled development parcel at Isabel Avenue and I-580 presents a unique opportunity.

LIVERMORE, CA—Multifamily vacancy in the Tri-Valley is hovering just above 4%. It was below 4% from 2012 to 2015 but there were a lot of new deliveries in 2016 and 2017, which pushed vacancy up slightly.  However, rent growth–which was flat in 2016–started rising last year and is trending up as new units are delivered, according to JLL.

And, prime sites for transit-oriented development are few and far between in the Bay Area, leaving investors and developers with few high-density options in addressing the region’s growing housing crisis. That is why the marketing of a 45.37-acre site with direct access to Interstate 580, adjacent to a planned light rail station and just minutes from Livermore’s Municipal Airport is a rare occurrence. To be sure, an unentitled development parcel at Isabel Avenue and I-580 in northwest Livermore presents a unique opportunity, given that the Tri-Valley is one of the hottest residential markets in the Bay Area.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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