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Date: 07.06.2007
Publication: Contra Costa Times (California)
Author: Theresa Harrington
Demolition of the old buildings was completed last week in preparation for construction
of a four-story, 87-unit project that will include one- and two-bedroom condos, along
with six "live-work" units -- a first for downtown Walnut Creek.
Construction is expected to begin today on a condo development at 555 Ygnacio Valley Road on the site of former JFK University buildings.
Thompson-Dorfman Partners of Mill Valley is developing the upscale condos to appeal
to young professionals looking for luxury amenities in an urban environment, said Bruce
Dorfman. He also expects the project to attract empty-nesters, with its spacious condos
ranging from 750 to 1,300 square feet.
"We haven't set prices yet," Dorfman said. "We're really 18 months away" from
completion.
The company also hasn't started a waiting list or established a Web site for the project, he
added. But he's optimistic the project will have no problem attracting buyers, even if the
overall Bay Area housing market remains sluggish, he said.
"I think there's going to be a huge demand," Dorfman said. "People live in the unit, but
their living room is downtown Walnut Creek."
This project is smaller and more intimate than the Mercer mixed condo and commercial
development under construction on North California Boulevard, he said. It will feature an
interior courtyard with water features, but no pool, and a rooftop "skydeck" including an
outdoor fireplace and barbecue that will give residents breathtaking views, he added.
"I think there's a very limited supply of new or comparable product," Dorfman said.
The Ygnacio Valley Road development won't offer three-bedroom units, which the
Mercer provides, but it will have a fitness center, community-media room and "livework"
units that will allow six homeowners to have storefronts in their homes.
JFK University moved to Pleasant Hill.
RESIDENTIAL CO-OWNERSHIP (93%);
CONDOMINIUMS (92%);
RESIDENTIAL CONDOMINIUMS (90%);
RESIDENTIAL PROPERTY (90%);
CONSTRUCTION (79%);
REAL ESTATE DEVELOPMENT (79%);
HOUSING MARKET (78%);
REAL ESTATE (77%);
HOMEOWNERS (77%);
CITY LIFE (71%);
CITIES (71%);
EMPTY NESTERS (69%);
EXERCISE & FITNESS (64%)
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