NEW CONDOMINIUM PROJECTS IN THE INNER MISSION AND DOGPATCH WILL ENHANCE THE COMMUNITY FABRIC THROUGH THE TRUMARK URBAN’S “THINK HUMAN” INITIATIVE
SAN FRANCISCO, May 21, 2015 — Today, Trumark Urban celebrates the groundbreaking of two new residential developments in San Francisco – Rowan, located at 346 Potrero Avenue in the Inner Mission, and Knox, located at 645 Texas in the Dogpatch neighborhood.
The two projects, representing an investment of over $100 million, will create over 400 new jobs in San Francisco while adding more than 110 affordable homes through fees and on-site development to the city’s strained housing supply in two thriving neighborhoods. The developments at Rowan and Knox reflect Trumark Urban’s commitment to supporting core urban neighborhoods close to jobs, transit, and local businesses.
INVIGORATING THE INNER MISSION
Designed by Glenn Rescalvo of Handel Architects, Rowan is an architecturally progressive development featuring 70 stylish residences, with a mix of affordable and market-rate residences. The development is situated on the southwest corner of Potrero Avenue and 16th Street within walking distance of public transportation, popular restaurants and retail outlets. The beginning of construction on Rowan signals a maturation of the Inner Mission in a highly desirable location in San Francisco. “The Inner Mission is quickly becoming one of the most attractive places to live and work in San Francisco. Rowan is well suited to meet the needs of our growing city and its workforce,” says Arden Hearing, Managing Director of Trumark Urban. “We are excited to bring affordable units to the San Francisco housing market in this location.”
Rowan will offer one-, two-, and three-bedroom residences, vibrant communal spaces, and an impressive 3,200 square foot roof terrace with gas barbeques, vertical gardens, and stunning views of the San Francisco skyline. Additional amenities include a second-floor landscaped terrace with Zen Garden, sculptural fountain, and a wood deck. Rowan is located at 346 Potrero Avenue.
DELIGHTFUL IN DOGPATCH
Designed by BDE Architects, Knox has been envisioned with the spirit and history of Dogpatch in mind. This 91-unit mixed-use residential development reclaims a space previously used for commercial and service businesses, integrating new housing opportunities into the vibrant and eclectic neighborhood. “Knox will bring an artisanal touch to one of the city’s special growth areas,” says Hearing.
Knox will feature a variety of residence sizes, including several family-friendly three-bedroom units – a rare feature for the neighborhood. Intimate public spaces and locally-sourced artwork, including a water feature created from a reclaimed bridge, will decorate the development’s interior. Knox is located at 645 Texas.
Together, the Rowan and Knox projects represent an investment of well over $100 million. PCCP, LLC is the construction lender for both projects, with Hillwood as the equity partner. Both Rowan and Knox are scheduled to be completed by late 2016.
COMMUNITY ENHANCEMENT IN ACTION
As part of Trumark Urban’s ongoing commitment to social enhancement and philanthropy, the groundbreakings at Rowan and Knox will highlight several of the key community initiatives, part of the company’s “Think Human” initiative. These efforts include forging relationships with community and neighborhood improvement groups at each Trumark Urban development, along with a global partnership with CharityWater.org.
At Rowan, Trumark Urban’s team established a relationship with Friends of Franklin Square, committing nearly $200,000 to upgrades at Franklin Square Park, including $50,000 in up-front capital improvements, along with monthly resident HOA contributions which will amount to over $1,000,000 over 50 years. Additionally, Trumark Urban has pledged over 600 man-hours to park clean-up efforts, already occurring each quarter in the neighborhood. “Trumark Urban is extraordinarily committed to making Franklin Square a better park for the entire community. Trumark’s collaboration with Friends of Franklin Square is incredible and elevates our advocacy and volunteer efforts to a level we could not have achieved otherwise,” states Jolene Yee, President of Friends of Franklin Square.
For Knox, Trumark Urban’s neighborhood engagement focuses on the revitalization of the Dogpatch Playground on 22nd Street. Trumark Urban worked collectively with local partners to provide a $10,000 donation to support the effort and continues to support the park. “The neighborhood leaders and grass roots efforts made this happen. We are so fortunate to have an active and sophisticated community who have the vision and tenacity to achieve it. We were honored to participate,” relayed Hearing.
Each Trumark Urban development will also include a prominent water feature with a plaque recognizing a commitment to building water wells in developing countries through an ongoing partnership with CharityWater.org. “We think locally every day, block by block,” said Hearing, “so we are honored to have this opportunity to catalyze global awareness around access to clean water with our friends at CharityWater.org.” Trumark Urban has committed to building a well for every 50 homes the company constructs.
To learn more about Trumark Urban’s community involvement, click here. With offices in San Francisco and Los Angeles, Trumark Urban continues to acquire development sites throughout California, New York, and other global gateway markets. The firm recently broke ground on 151 luxury high-rise residences in downtown Los Angeles in March 2015. In San Francisco, construction continues on The Pacific, the high-profile former dental school located in Pacific Heights that boasts sweeping Golden Gate Bridge views.
About The Trumark Group of Companies
Trumark Urban develops high-density mixed-use projects in global gateway markets with a focus on core urban neighborhoods close to jobs, transit and local businesses. With offices in San Francisco and Los Angeles, the firm will build more than 1,000 condos over the next 3 years totaling over 1 million square feet of development with more than $1 billion in value. trumarkurban.com
The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark has raised more than $460 million of equity and funded 25 projects since the depth of the recession in 2009. trumarkco.com
Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Its pipeline exceeds 2,000 lots in core in-fill areas of California, representing more than $2.8 billion in future revenue. trumarkhomes.com, TruBlu Blog, Facebook, Twitter, LinkedIn
Trumark Communities is a residential land development platform focused on acquiring, developing and selling improved lots in master planned communities. Its current pipeline includes three master planned communities with a combined 2,100 lots that represent total projected revenue in excess of $500 million.
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State. trumarkco.com