Author: J.K. Dineen
Walnut Creek – Thompson Dorfman Partners 555YVR has logged its 30th sale in Walnut Creek. The project is attracting about half BART commuters – mostly workers from San Francisco, Oakland and Fremont – and about half current Walnut Creek residents.
The price per square foot has averaged $466. The project, the only new condo project in the I-680 corridor to open in 2009, is next to the BART station at 555 Ygnacio Valley Road. Prices range from $300,000s to mid – $700,000s. Residents began moving in a few months ago.
“Downtown Walnut Creek is a highly desirable neighborhood in which to live, work and play,” said Bruce Dorfman, principal of Thompson-Dorfman Partners “The future arrival of Neiman Marcus is yet another signal of the area’s cachet, something not lost on our buyers.”
This month, 555YVR will begin to offer FHA loans, enabling buyers to apply a down payment as low as 3.5 percent, which could help demand in a market with no other new condominiums under construction.