Greystar To Break Ground On Latest Redwood City Project
Greystar will soon break ground on a mixed-use multifamily community in Downtown Redwood City. The project will quadruple the number of affordable units completed under the city's Downtown Precise Plan to date. The community at Diller Street and El Camino Real will deliver 350 units, which includes 35 affordable units, by 2021. The eight-story project was approved in 2017.
The project will have 2,500 SF of retail and is close to downtown Redwood City, the Redwood City Caltrain station and two major grocery stores.
Greystar’s growing Redwood City portfolio includes 1,000 built or approved units. Many of its projects have been fast-tracked since they fall within the Downtown Precise Plan, which calls for up to 2,500 residential units, including 375 affordable units.
“As we continue to see healthy job growth and major employers setting roots across the greater Bay Area, we strive to deliver walkable, transit-oriented communities across the growing Silicon Valley market to alleviate the region’s housing shortage and jobs and housing imbalance,” Greystar Senior Director of Development, Northern California Jonathan Fearn said in a statement.
Greystar also opened a new corporate office in Redwood City at Main Street where it will host community events such as barbecues and community meetings. The office will provide a place for the company to meet community members and prospective residents to gain feedback and discuss current and future projects.