Orig Source news.registrysf.com | Re-Post MNM Partners, LLC 6/2/2016
Charleston, S.C.-based multifamily developer Greystar is pursuing another project in downtown Redwood City as a cap on new apartment units nears in that district.
Greystar’s latest proposal at 1409 El Camino Real would follow three others by the developer that are already finished, under construction or approved.
“They realize the opportunity available here … and have gotten to know what can be produced,” city Senior Planner Lindy Chan said. “They realize it is a place to invest in.”
1409 El Camino Real would feature an eight-story, 350-unit development with about 6,000 square feet of ground-floor retail, three levels of underground vehicle parking and 93 spaces for bicycles. The project would include 35 affordable units for low-income tenants.
The proposal is currently in the city’s environmental and design review phase. It was scheduled to go before the Architectural Advisory Committee on Tuesday, May 31st.
If the proposal garners all city approvals over the next few months, Chan said, construction could begin early 2017.
Greystar representatives declined comment.