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%);
RESIDENTIAL CONDOMINIUMS (90%);
RESIDENTIAL PROPERTY (90%);
REAL ESTATE DEVELOPMENT (79%);
HOUSING MARKET (78%);
REAL ESTATE (77%);
CITY LIFE (71%);
EMPTY NESTERS (69%);
EXERCISE & FITNESS (64%)