Developer Plans To Build Rare Transit-Oriented Development In North Bay
Want to get a jump-start on upcoming deals? Meet the major San Francisco players at one of our upcoming events!
Laulima Development has proposed one of the first North Bay developments to take the Sonoma-Marin Area Rail Transit train stations into consideration. Its Station Avenue mixed-use project will create a transit-oriented development at the Rohnert Park SMART station in a city largely dependent on cars.
Transit-oriented development is slowly becoming sought after in the North Bay now that it has a new means of public transportation via the SMART train. Santa Rosa and Petaluma also are considering updated transit-oriented area plans. ROEM Development bought land from SMART near the downtown Santa Rosa station in 2017 with plans to build an $85M housing project.
Laulima's Station Avenue will have 130K SF of retail focused on a town square, 120K SF of office, 415 apartments and townhomes and a 156-room hotel. To date, retailers have pre-leased 40% of the available retail space.
“Rohnert Park has certainly caught the attention of many high-quality restaurateurs and retailers,” Laulim Development President, Director of Development David Bouquillon said in a statement. “They view Station Avenue as a rare chance to locate within an exciting new downtown — one that is surrounded by housing, offices, restaurants, public amenities and, most importantly, a regional transit option."
Depending on city approvals, construction could begin at the end of 2018 and be completed by Q3 2020. The mixed-use development is on the former State Farm Insurance campus on 32 acres at 6400 State Farm Drive.
John Cumbelich & Associates is listed as the retail leasing broker. Cushman & Wakefield is handling office leasing efforts.