CityView, Windflower Properties Host Event Featuring Former HUD Secretary Henry Cisneros and Union City Mayor Carol Dutra-Vernaci
LOS ANGELES and UNION CITY, CALIF. – June 2, 2016 – CityView, a premier investment management and development firm focused on urban multifamily real estate in the Western United States, and Windflower Properties, a privately held real estate development company, today held a naming ceremony for their new transit-oriented apartment community, The Union Flats. The Union Flats project is currently under construction in the Station District neighborhood of Union City, Calif.
“Union City is a prime example of how the Bay area needs new housing such as The Union Flats,” said Sean Burton, CEO of CityView. “This apartment community exemplifies how CityView partners with local developers to create high-quality housing in close proximity to jobs, transit and entertainment.”
“Many workers in the surrounding communities cannot afford to live near their jobs and therefore commute to more affordable housing in the East Bay,” said Henry Cisneros, Founder and Chairman of CityView and the former Secretary of the U.S. Department of Housing and Urban Development (HUD). “Recognizing this trend, Union City’s leaders have wisely created a desirable and livable community that will in turn attract new businesses to the area and help foster the growth of existing Union City companies.”
The Union Flats development sits on a 2.4-acre site at 34588 11th St., which was previously a vacant lot. The parcel is in a prime location within The Station District, a master planned, transit-oriented neighborhood targeted for redevelopment by Union City several years ago. The site is adjacent to the local BART station, giving residents easy transportation to jobs in both San Francisco and Silicon Valley. In addition, the planned BART expansion into North San Jose in 2018 will increase the job and transit options for residents.
“I want to thank CityView and Windflower for bringing our community a much-needed housing development,” said Union City Mayor Carol Dutra-Vernaci. “The redevelopment of The Station District has been in progress for a number of years, and we are now seeing the results of our efforts. We look forward to watching the neighborhood grow and thrive as new residents and businesses move to the area.”
The Station District is the successful result of Union City’s vision to convert 105 acres of vacant, industrial land surrounding the BART station into a vibrant community.
“Thanks to Union City’s investment and redevelopment efforts, The Station District is now a transformed and emerging neighborhood with a mix of housing options,” said V. Fei Tsen, President of Windflower Properties. “Like so many cities in California, Union City has been affected by a shortage of housing. We are pleased to be working with CityView to transform this once empty lot into a desirable and essential multifamily community.”
When completed in the spring of 2017, The Union Flats will have 243 residential apartments, ground-floor live-work lofts, and a community art gallery. Planned amenities include a central courtyard, club room, fitness center with yoga area, an outdoor entertainment area with barbecue grills and festival lighting, a dog wash, a pool, a spa, outdoor seating with a fire pit, and 24-hour security.
CityView is providing equity capital to partner with Windflower Properties in the development of The Union Flats. The project was also made possible through a grant provided by the California Department of Housing and Community Development (HCD).
“This project is a great example of the type of vibrant and dense housing that should be built next to transit,” said Eugene Lee, Chief of the Infill Infrastructure Grant Program for HCD. “It will allow people to have the option of getting to jobs without cars. We believe it will become a model for other California communities as they develop the precious land next to their transit centers.”
“Windflower has done an excellent job entitling the site, working closely with Union City officials, and obtaining the HCD grant that helped get this project underway,” said Tony Cardoza, Managing Director of CityView. “I want to thank Fei and her team for all of their hard work.”
Construction on The Union Flats is being led by Cannon Constructors North. The project was designed by David Baker Architects.
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CityView is a premier developer and investment management firm focused on urban residential real estate in the Western United States. CityView targets multifamily housing ventures in metropolitan markets which are often overlooked due to the complexity of the transaction and other development challenges. At the center of the firm’s success is its strong professional team which possesses unparalleled expertise in real estate, development operations and finance. CityView’s investors include some of the largest and most sophisticated public pension plans and financial institutions in the country.
CityView was founded in 2003 and is headquartered in Los Angeles. The firm has regional offices in San Francisco and San Antonio, Texas. For more information, please see www.cityview.com.
About Windflower Properties
Windflower Properties is a privately held real estate development company that builds mixed use, multi-family residential properties on infill sites, close to urban centers and transit. The firm combines a passion for good design, attention to detail, and a belief in socially responsible practices. It is based in the San Francisco Bay Area, where its extensive relationships with government, community and policy leaders and its knowledge of the nuances of the local real estate market give it the ability to identify unusual opportunities and to tackle complex entitlements to create value. A hallmark of its practice is engaging private public partnerships with sophisticated financing structures to promote public objectives whether that be the conversion of formerly industrial land to more productive uses, the development of walkable, transit-oriented communities, or affordable housing. For more information, please see www.windflowerproperties.com