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Trumark Homes co-founder Gregg Nelson recently announced the company sold out a 134-unit residential development in Milpitas known as PACE.
“PACE represents the fourth Silicon Valley project in Trumark Homes’ portfolio, and we continue to target project sites throughout the region, which is experiencing an unprecedented demand for housing as a result of the thriving San Francisco Bay Area market,” Gregg told Bisnow.
Trumark teamed up with Resmark Land and Housing to complete construction. Resmark chairman and CEO Robert N. Goodman praised Trumark’s ability to execute on the vision. “Resmark and Trumark enjoy a long-standing partnership, and we look forward to continuing the relationship in the future,” Robert added.
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The PACE deveopment consists of two communities: detached single-family units at Velocity and townhomes at Momentum. Trumark hopes to attract established Silicon Valley families as well as first-time homebuyers with a tiered pricing model, Gregg said.
The project was screened to ensure the market had a record of strong and sustained job growth, proximity to transit and offered a range of pricing options, the company reports. PACE is near the Montague Expressway and the Milpitas BART station.
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