Apartment Powerhouse Greystar Moves to Office Development with Redwood City MegaprojectSource: bizjournals.com | Re-Post MNM Partners, LLC 12/27/2018 –
Apartment behemoth Greystar is switching gears to office development with a proposal to revamp five blocks in the heart of downtown Redwood City.
The Charleston, S.C.-based company owns and operates more than 400,000 worldwide, including more than two dozen apartment communities in the Bay Area. But it has never ventured into developing office in this region — until now.
Greystar submitted a proposal for a project that calls for 589,700 square feet of office, 10,100 square feet retail and 272 apartments. The project, known as 1601 El Camino Real, will also include 37 apartments set aside for low-income residents and a child care center.
“Greystar is proud to be working with the City of Redwood City to create a vibrant new community in line with the current zoning,” Ali Warner, managing director at Greystar, Northern California and Pacific Northwest, told the Business Times. The developer wants to “revitalize Main Street with a new mixed-use community which will include public open space, pedestrian-friendly green spaces, and onsite neighborhood-serving amenities.”Read the full article…