Portfolio

Crossing | San Bruno

San Bruno, California


Market: S.F. Bay Area

Type: Multifamily

Role: Development Partner

Status: Development completed in 2004, 2007, 2009 and 2010

Master-planned community that has transformed 20 acres of former U.S. Navy property near San Francisco International Airport on the densely populated San Francisco Peninsula.

Property Size

  • 835 rental apartments

Local Population Density 

  • 6,100 people/square mile

Highlights

  • Hailed as the city of San Bruno’s “new downtown,” The Crossing is located approximately seven  miles south of San Francisco, at the juncture of Interstate 380 and El Camino Real, directly across from The Shops at Tanforan regional mall.
  • Well-located site features quick access to both of the San Francisco Peninsula’s major commute corridors (Interstate 280 and U.S. Highway 101), which connect San Francisco and San Jose. It is also within walking distance of two commuter-rail transit stations (BART and CalTrain).
  • Invested in three phases of the redevelopment project, for which TMG Partners and Sares Regis of Northern California jointly served as master developers.
  • Developed two five-story residential buildings as the project’s first two phases through ventures with TMG and Sares Regis. Construction of the adjacent buildings, which total 485 rental apartments, was financed through proceeds from the sale of tax-exempt bonds; 20% of the units in each building are designated as affordable housing for low- and moderate-income residents.
  • Through a venture with SNK Realty Group, developed The Crossing’s third phase, two five-story residential buildings immediately to the west of the first two phases. One of the buildings, Acappella Apartments, totals 163 market-rate rental apartments. The other consists of 187 flats and town homes that were finished as for-sale condominiums, but are now operated as rental apartments.

Awards & Honors

  • Winner of the National Association of Home Builders Multifamily Council’s Pillars of the Industry Award in 2006 for Best Interior Merchandising.
  • Phase I (then known as Meridian Luxury Apartments) was named one of the Market-Rate Residential Deals of 2004 by the San Francisco Business Times.
  • The acquisition of the site on which all three phases were developed was named Residential Deal of the Year by the San Francisco Business Times in 2003.

Related Websites

 

Walk Score:  73     |    Transit Score:  n/a     |     Bike Score:  n/a