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Trumark Homes launches $115 million development in Newark, Calif.
Mixed single- and multi-family community is the first new development in Newark in 10-plus years.
Trumark Homes broke ground in May on a new 11.98-acre, 164-unit residential development project in Newark, Calif., in the heart of Silicon Valley. It is Trumark’s fourth acquisition in or near Silicon Valley and the first new development in the Newark area in more than 10 years.
Broker Steve Tao of Mason McDuffie Commercial represented the seller, Emmett Family Limited Partnership. The project’s architect is KTGY Group.
According to Trumark, the 164 units will include 84 three-story detached single-family homes and 80 two- and three-story attached townhomes. Single-family homes will provide an average of 2,200 square feet. Six different floor plans are proposed for the townhomes, ranging in size from three-bed, three-bath with 1,573 square feet to four-bed, three-and-a-half-bath with 2,379 square feet.
“This project is located in a great central Bay Area location with access to BART, bridges and freeways, allowing residents to work in San Francisco, Oakland, East Bay, Peninsula, Silicon Valley and San Jose,” said Christopher Davenport, senior vice president of land development for Trumark Homes. “The city has encouraged this property to be converted from an old RV storage parking lot to something better. This strip of land is adjacent to the freeway and will provide a much better window into Newark and will improve that section of Cedar Boulevard as well.”
Trumark also plans to engage in other projects to improve the area, including installation of a new median and sound wall on Cedar Boulevard.