DUBLIN – A large residential complex in Dublin has taken a significant step forward now that the developer of the project has purchased the property it needs to build the accommodation.
AvalonBay Communities has purchased a site at 6700 Golden Gate Drive in Dublin, according to Alameda County records filed on April 7.
The residential complex will consist of 499 new rental units, according to AvalonBay.
“We have a long and successful relationship with the City of Dublin, and we are delighted to help them realize the vision of the Dublin City Center Specific Plan and add to the community that is forming around West Dublin BART”, said Joe Kirchofer, vice president of development at AvalonBay.
AvalonBay communities, acting through an affiliate, paid $ 38.6 million for the property, according to county documents.
The property that was purchased by the subsidiary, Avalon West Dublin, totals 9.1 acres, according to county valuation records.
AvalonBay will demolish an existing industrial building on the site to pave the way for hundreds of homes. The long-standing warehouse at this location totals 225,000 square feet, as shown in a post on the LoopNet site.
The plots for the new development were assembled by an alliance of Bayview Development Group and the Morley Brothers. Bayview Development also worked through the City of Dublin’s approval process to secure rights to the property before selling it to AvalonBay this month.
“Dublin was a great city to work with to achieve housing rights,” said Matt Conti, vice president of development at Bayview. The city council was very supportive of our efforts to carry out the approved specific plan. “
The purchase of the property, combined with previous deals with Dublin city leaders, also paves the way for affordable homes on an adjacent site.
Bayview and AvalonBay have provided an adjacent plot on Regional Street to Eden Housing, a veteran Bay Area developer specializing in affordable housing.
Up to 114 affordable seniors’ residences will be created on the regional street site.
By providing the adjacent plot to Eden Housing, the developers said more affordable homes could be built on site than would have been the case if the affordable homes had been mixed into the Golden Gate Drive project with the 499 units at the rate of market.
“We applaud Dublin’s leadership in affordable housing and its inclusion programs which are a great tool to help us meet the affordable housing needs of Tri Valley,” said Linda Mandolini, President of Eden Housing.