Raintree Partners Is Building Several Mixed-Use Developments In California
Raintree Partners is busy working on three California projects worth $500M. Two of the mixed-use projects in the San Francisco Bay Area will create much-needed multifamily and co-working space. Mixed-use projects are becoming increasingly popular among residents and developers.
“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,” Raintree Partners Managing Director Jason Check said.
The Encasa development in Sunnyvale will offer 465 apartments and 5,500 SF of co-working space with private offices and lounges. The property will be near Downtown Sunnyvale and close to Moffett Park and other technology parks. The project will provide an extension to the John Christian Greenbelt, a pedestrian path and bike network.
Amenities include pools, a 4K SF fitness center, a community garden, a communal kitchen and herb garden, a craft workshop, parks, private garages and bike repair rooms. Phase 1 of the project was completed Q4 2016 and leasing is underway. Phase 2 is under construction.
The Martin in San Francisco’s Dogpatch will be among a handful of new apartment developments to hit the district. The 92-unit complex will offer about 3K SF of co-working space and waterfront kayak rentals. The project is named after the Martin Brothers Shipping Co., which used to occupy the site. The Martin is along the Third Street light rail. The project is expected to deliver summer 2017.
The third project under development is in Dana Point and will offer 109 units and retail.