News Column

Construction Near Complete on Community of 94 Townhomes in San Jose's Berryessa District

Jun 19 2013 12:00AM

Marketwire

Tracker

SAN JOSE, CA -- (Marketwired) -- 06/19/13 -- Trumark Homes and Resmark Land and Housing have announced a June 22 grand opening for Centered on Capitol, a community of 94 townhomes at 1328 N. Capitol Ave., with first move-ins expected this fall.

The three-story townhomes feature an innovative design featuring high ceilings, extra windows to let in more light and second-story living rooms with optional bi-folding doors that open onto a spacious deck to create an indoor-outdoor experience.

"We're very excited about the product type and its fresh, contemporary flair," said Michael Maples, principal of Trumark Homes. "The city's density requirements pushed us to be creative and come up with a workable design. It's something the Bay Area has not seen very often and it is significantly different from our competitors' homes."

"Resmark is pleased to again partner with Trumark in the Silicon Valley," said Connie Emmitt-Stern, Sr. Vice President - Investments, Resmark Land and Housing.

"We believe that Centered on Capitol offers a unique new option to homebuyers in the San Jose market."

Construction is in the final stages on the 4.4-acre development of for-sale townhomes, which range from 1,414 to 1,986 square feet. Community amenities will include quaint public spaces, including a park in the heart of the neighborhood, a central courtyard fountain, outdoor built-in kitchens, shade sails and bistro seating, and a large children's tot lot.

Centered of Capitol's highly detailed façade is custom wrought iron and brick with a diverse color palette. Interiors feature 10-foot and higher ceilings, oversized windows, along with recessed lighting, high-end appliances and plumbing fixtures throughout.

The location in the Berryessa District is near transit, freeways and excellent schools. Trumark had had its eye on the land, formerly used for farming, since 2008. Construction on the townhomes began in September.

"It's transit accessible, school smart and everyday convenient," said Mark Higgins, Trumark's Senior Vice President of Sales and Marketing. "With two stations about 1 1/2 blocks away, we are very commuter friendly to all areas of the South Bay."

Centered on Capitol is the third recent project in Silicon Valley for the fast-expanding Trumark. The company revived the 45-unit Capitol Station project (formerly known as Grandview Terrace) in San Jose last spring and purchased the 134-unit Contour development in nearby Milpitas in July. Resmark Land and Housing is the equity partner for Trumark on both the Centered on Capitol and Contour projects.

The three projects -- all located within a five-mile radius of each other -- represent 262 units with a projected sales revenue that will total more than $150 million.

Trumark targeted the Silicon Valley market early in the recession as one of the first in the nation likely to experience job growth and economic recovery.

About The Trumark Group of Companies
The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development.

Trumark Companies is the residential development arm of the organization and has completed more than $600 million in transactions since 2000, representing approximately 3,800 lots in Northern and Southern California. www.trumark-co.com/companies

Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. www.trumarkco.com

Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Since May of 2009, Trumark has raised more than $140 million of equity and funded 15 deals. Its pipeline exceeds 2,000 lots in core urban areas of California, representing more than $1 billion in future revenue. www.trumarkhomes.com

Trumark Urban engages in multifamily acquisition and development in core urban neighborhoods close to jobs, transit and local businesses. Since making the strategic decision to focus on San Francisco in 2011, the new division has acquired six sites in San Francisco for mid- and high-rise condominium communities with plans in the works for more than 600 units. www.trumarkurban.com

About The Resmark Companies
Since 1995, Resmark has offered equity investment capital and asset management powered by core foundational discipline and focus. A fully integrated real estate investment group, The Resmark Companies' divisions -- Resmark Land and Housing, Resmark Apartment Living and Resmark Shopping Centers -- finance, acquire, develop and manage real estate in California and the Western United States and other select major metropolitan markets nationwide. Resmark currently manages approximately $1 billion of capital and has participated in 150 transactions, encompassing more than 24,000 single-family and multifamily residential units. Headquartered in Los Angeles, Resmark also maintains corporate offices in San Diego and La Jolla. More information can be found at www.resmark.com.



Add to Digg Bookmark with del.icio.us Add to Newsvine



Source: Marketwire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters