SAN MATEO, Calif. – In a public/private partnership, Sares Regis Group of Northern California (SRGNC) and Caltrain have gained approval from the San Mateo Planning Commission for a new apartment community called Hayward Park Transit Oriented Development (TOD) to be built on 2.7 acres adjacent to the Hayward Park Caltrain Station in San Mateo, Calif.
Hayward Park TOD contains 191 studios and one- and two-bedroom apartment homes in a five-story building with 192 parking spaces and a commuter bike room accessible to the public. Located at 401 Concar Drive, the community will include 28 income-restricted homes (16 apartments reserved for Very Low-Income residents and 12 apartment homes reserved for Moderate-Income residents). The community will also offer residents a rooftop lounge, fitness center, community room, and a dog run.
The development will include over $300,000 of public art, which is anticipated to add a dramatic feature visible to commuters on trains. Plans call for breaking ground in the fall of 2023, with a completion date in 2025.
San Francisco-based BDE Architects designed the project. Hayward Park has received the endorsement of the San Mateo County Economic Development Association (SAMCEDA), the City of San Mateo Chamber of Commerce, and the Bay Area Council.
“We are very excited to build this new transit-oriented apartment community to help meet the robust housing demand on the Peninsula and contribute to the modernization of the El Camino corridor,” said Ken Busch, SVP, Residential Development for SRGNC. “Our goal is always to add value to the communities where we develop new projects, and Hayward Park enhances the physical and economic landscape of the San Mateo community.”
The development adheres to the Rail Corridor Plan approved by the City of San Mateo in 2005, which is committed to:
• Improve connections to Caltrain stations
• Improve pedestrian and bicycle environment and connections to transit stations
• Manage traffic & encourage alternates to driving
• Concentrate development at public transit station area
• Encourage transit supportive development
• Respect community character with new development
• Control height and massing of new development
• Control traffic impacts of new development
“This development will help to reduce traffic congestion and pollution, and provide much needed affordable housing, while connecting its residents to Caltrain and everything the Bay Area has to offer,” said Michelle Bouchard, acting executive director of Caltrain. “As the completion of Caltrain’s electrification grows ever closer, we hope to see more projects like this so more people can easily reap the benefits of our service.”
Based on public input, the entire site plan was changed to one building instead of two and added larger sidewalks, an updated bus stop, two additional ADA parking spaces for
Caltrain, ramps to Caltrain Station, and bike-pedestrian connectivity.
Transit-oriented Hayward Park will be an all-electric building with many sustainable, energy-efficient features, including solar panels, Energy Star appliances, low-flow water conservation fixtures, and drought-tolerant landscaping.
ABOUT SARES REGIS GROUP OF NORTHERN CALIFORNIA:
Sares Regis Group of Northern California (SRGNC) and its affiliates, Regis Homes Bay Area and Regis Contractors Bay Area, are regional companies based in San Mateo, Calif. As leading developers and managers of commercial and residential real estate in the western United States, the companies have more than 6.5 million square feet of commercial properties valued at over $7 billion and over 2,800 residential units under development. Since its inception, the company has acquired or developed 13.5 million square feet of commercial properties and 20,000 multifamily and residential housing units.
ABOUT CALTRAIN:
Owned and operated by the Peninsula Corridor Joint Powers Board (JPB), Caltrain provides commuter rail service from San Francisco to San Jose, with commute service to Gilroy. While the JPB assumed operating responsibilities for the service in 1992, the railroad celebrated 150 years of continuous passenger service in 2014. Planning for the next 150 years of Peninsula rail service, Caltrain is on pace to electrify the corridor, reduce diesel emissions by 97 percent by 2040 and add more service to stations.
West Coast Commercial Real Estate News