Top 10 Multifamily Projects Under Construction in the Bay Area

MULTIHOUSING NEWS, Sept 18, 2020- California was one of the first states to impose stay-at-home orders and social distancing rules on construction sites, forcing developers to push back completion dates. San Francisco’s year-to-date deliveries accounted for 0.6 percent of existing stock, less than half of the 1.3 percent national average, according to Yardi Matrix data. Despite that, the metro has delivered 11 properties, totaling roughly 1,550 units.

Some 23,000 units were under construction across 125 properties as of August, with another 120,000 in the planning and prospective stages. Most new projects target upscale renters and include luxury amenities, despite the metro’s affordable housing woes. One solution policymakers and developers have implemented to address the issue is setting aside a percentage of units as affordable, with half of the 10 largest properties currently underway marked to include affordable apartments.

https://www.multihousingnews.com/post/top-10-multifamily-projects-under-construction-in-the-bay-area/

-Lucia Morasanu

Wood Partners Announces Grand Opening of Alta Headwaters in Orlando

ORLANDO, Fla., August 5, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the grand opening of their newest luxury apartment community. Alta Headwaters features 328 units in multiple four-story, elevatored-buildings comprised of one-, two- and three-bedroom apartment homes as well as studios. The community officially opened its doors to residents on July 30 and has more than two dozen move-ins scheduled for August and September. Leasing is currently underway at www.altaheadwaters.com.
Alta Headwaters, named for its proximity to Shingle Creek – considered to be the northernmost headwaters of the Florida Everglades – is situated on 15.31 acres at the prime intersection of Central Florida Parkway and John Young Parkway. Located at 4000 Headwaters Way, the community offers resort-style living in a premium location at the confluence of Orlando’s Tourism Corridor and some of its largest office and industrial parks.
“Alta Headwaters is poised to benefit from its prime corner location and access to a diverse employment base that extends well beyond hospitality and tourism,” said Bryan Borland, Managing Director at Wood Partners. “We’re strong believers in this corridor as evidenced by this being our third development in the immediate vicinity, and we feel that Alta Headwaters has reset the bar in the submarket.”
Alta Headwaters allows convenient access to many prominent employers and a number of nearby corporate office and industrial parks including SouthPark Center, Southridge Commerce Park and Infinity Park, all within minutes of the property. Major employers in the area include Darden Restaurants’ corporate headquarters, Lockheed Martin and Tupperware Brands, among others. Directly across the street, Grande Lakes Orlando Resort is home to Orlando’s largest luxury hotel complex, anchored by The Ritz-Carlton and JW Marriott.
The luxury apartment community is conveniently located within three miles of Florida’s Turnpike, Interstate 4 and the Beachline Expressway (SR 528). These provide easy access to a wide range of entertainment venues including SeaWorld, Universal Orlando Resort and Walt Disney World Resort, in addition to a wide variety of nearby shopping options including The Florida Mall, The Mall at Millenia and two Simon Premium Outlet locations. Furthermore, just one exit north on Interstate 4, residents have their choice of dozens of Orlando’s finest upscale and casual dining options on Sand Lake Road, better known as “Restaurant Row.”
Alta Headwaters features best-in-class amenities including a resort-style, zero-entry saltwater pool with a sundeck and covered poolside pavilion, private cabanas, hammocks, lounge seating and outdoor grilling areas. Additional amenities include a modern, state-of-the-art fitness center featuring virtual training classes and a yoga room, a game lounge featuring a billiards table, an automated “smart” package room and a fenced dog park.
Unit finishes include wood-style plank flooring in all entryways, kitchens, bathrooms and living rooms, premium quartz countertops, low-profile stainless-steel appliance package featuring a side-by-side refrigerator with water and ice dispensers, glass-top cook range, soft-close kitchen cabinetry with under-cabinet lighting and custom kitchen tile backsplash.

Wood Partners Announces Grand Opening of Alta Potrero in San Francisco

Wood Partners, a national leader in multi-family real estate development and acquisition, announced today the grand opening of its newest luxury residential community – Alta Potrero – in San Francisco, California. The new community is managed by Wood Residential Services.

Alta Potrero offers modern-style apartment homes in the popular neighborhood of Potrero Hill in San Francisco, near many of the city’s top employers, food and entertainment destinations, and transportation hubs. Located at 1301 16th Street, Alta Potrero is delivering 172 units to one of the country’s most desirable residential areas.

“Potrero Hill is a charming neighborhood with an abundance of restaurants and bars, which will provide residents with unbeatable access to everything San Francisco has to offer,” said Julia Wilk, Managing Director for Wood Partners.

Residents can easily get to work from nearby BART, MUNI and Caltrain stations, or on one of many bus lines or bike lanes in the neighborhood. Alta Potrero has easy access to Interstate-280 and Highway 101. Numerous major tech company headquarters are within two miles of the new community, as are offices for many major financial and medical research employers.

Surrounding Potrero Hill are a variety of dynamic neighborhoods, home to dozens of local eateries, bistros, coffee shops, and small businesses. Safeway and Whole Foods locations within a half mile provide easy grocery store access.

Alta Potrero features 6,700 square feet of first floor retail and two expansive rooftop outdoor terraces with barbeque grills, fire pits and 360-degree views of San Francisco’s skyline. A landscaped courtyard has fire pits and a shaded tree grove. The community also has co-working spaces, bike storage and a dog wash.

The fitness center features state-of-the-art equipment including a Peloton Bike. Unit and building entries are smartphone operated by Latch, and the community has a secured 24-hour package room.

Each apartment home offers the finest kitchen finishes from Fischer & Paykel, Blomberg appliances, quartz countertops, backsplashes and islands. All homes have floor-to-ceiling windows, individual climate controls and front-load, in-unit washer and dryer. Select units feature private balconies.

Alta Potrero offers 172 apartment homes in studios, one-, two- and three-bedroom plans, plus townhomes with walkup access.

Leasing is now underway at www.altapotrero.com.

Wood Partners Announces Grand Opening of Alta Spring Creek in Garland

GARLAND, Texas, September 15, 2020 (Newswire.com) – ​​​​Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its newest luxury residential community – Alta Spring Creek – in Garland, Texas. Leasing is currently underway at altaspringcreek.com.
Located at 6310 Naaman Forest Blvd., the new community is located a short drive from some of the highest-growth economic hubs in the Dallas-Fort Worth region. Alta Spring Creek’s location places residents minutes from CityLine – home to regional headquarters for both State Farm and Raytheon – as well as the Telecom Corridor that boasts an unparalleled concentration of manufacturing, telecommunications, healthcare and financial services establishments.
“The Dallas team of Wood Partners is proud to open Alta Spring Creek, a conveniently located, high-quality community,” said Ryan Miller, Managing Director of Wood Partners. “Alta Spring Creek residents have access to top-notch amenities located near a variety of job opportunities and surrounded by beautiful local scenery.”
In addition to area job opportunities, Alta Spring Creek’s location in the 190 Corridor will provide residents with numerous restaurant, bar and retail options at nearby Firewheel Town Center. The area is home to a number of grocery options as well, with Whole Foods, Kroger, Tom Thumb and Aldi nearby.
Alta Spring Creek includes 225 units in a mix of studio, one-, two- and three-bedroom floor plans. The premier apartment homes feature refined finishes that help differentiate the community. The units, which include stainless steel appliances, granite countertops, upgraded fixtures and private yards, will provide an A-class living experience for residents.
As part of a robust set of amenities, Alta Spring Creek includes a number of community-shared spaces, maximizing the best of the region’s indoor-outdoor lifestyle. A spacious fitness center features Precor equipment and a dedicated yoga and CrossFit studio. The large, resort-style pool area includes tanning ledges, outdoor fire pits and BBQ grilling areas. A portion of Spring Creek, which runs along the property, offers an area for outdoor activities and events while providing a calming natural backdrop for residents to relax and recharge daily.
Alta Spring Creek now joins a list of 16 properties managed by Wood Partners in Texas, 12 of which are in the Dallas-Fort Worth area, with three more currently in development.

Wood Partners Announces Grand Opening of Alta Med Main in Houston

HOUSTON, September 3, 2020 (Newswire.com) – Wood Partners, a national leader in multi-family real estate development, announced today the grand opening of its newest luxury residential community – Alta Med Main – in Houston, Texas. The four-story community features 338 units comprised of one- and two-bedroom apartment homes. Leasing is currently underway at www.livealtamedmain.com and first move-ins began in early September.
Located in the Texas Medical Center, a short distance from Downtown Houston, Alta Med Main offers residents easy access to major employment centers in the area, including Texas Medical Center, Rice University, and Downtown. NRG Stadium, the Museum District, the Houston Zoo and Hermann Park are also nearby.
“We are excited to welcome residents from across the Houston area to this market-leading community,” said Bart Barrett, Managing Director at Wood Partners. “Alta Med Main gives residents unequaled luxury in the midst of the largest medical city in the world. This fantastic location provides everything our residents need right around the corner.”
The new community is conveniently located just north of Interstate 610, and within minutes of both the NRG Park/Astrodome and Fannin South Transit Stations, giving residents easy access to transportation that connects across the Houston megaregion. There is a wide variety of retail and grocery options in the neighborhood, including Target, Walmart, Costco and Kroger.
In addition to luxurious apartments, the community offers state-of-the-art amenities for residents to enjoy outside of their homes. These include a clubroom, sky lounge with kitchen area, business center with reserve-able micro-offices, a conference room, and a 24/7 fitness center with a virtual fitness studio. The community also boasts two courtyards that include a resort-style pool with sun deck, a tranquility space and entertaining areas, as well as a dog park with a pet washing station. Residents will also have access to a Luxor package room, enabling stress-free package pickup.