CityLine Tour
Location

320 South Taaffe Street, Sunnyvale, CA

Date and Time

Tuesday, March 6 2018 - 6 PM

Event Details

On Tuesday, March 6th, Northern California SPIRE members and special guests gathered for a hard-hat tour of the CityLine Sunnyvale to learn about the fits and starts of the not-so-fast redevelopment of Sunnyvale Town Center that almost never was.

Progress halted on this project nearly ten years ago, which brought a number of challenges to the project. Mired in long delays, legal limbo, and a change of ownership, the 36-acre site started to finally take shape when STC Venture LLC, a joint venture between Hunter Storm, Sares Regis Group of Northern California and J.P. Morgan Asset Management, was able to purchase the former Sunnyvale Town Center.

SPIRE members were also joined by special guests from the Haas School of Business and Cal’s Real Estate Club, proving that while the Bay may be divided between Cardinal and Bear territory, there are bridges -three to be exact- to bring us together. In this case, a 30+ group gathered to tour Phase 1 of the project: construction of 198 residential units, above-ground-floor retail, a new Whole Foods and AMC Theaters, and a variety of infrastructure improvements.

Phase 2 includes 94 additional residential units on the south side of the project, while Phase 3 contemplates hundreds of residential units over-ground-floor retail, and two additional office buildings.

The developers express confidence that the $100 million project — crucial to existing businesses in the immediate area and important to the city of Sunnyvale as a whole — will be completed with no more surprises this time.

After seeing the strides made at the storied site, members and guests gathered for drink and bites at the Oxford just a few blocks away. The conversations lasted late into the evening and capped a successful outing in an up-and-coming downtown Sunnyvale.

SPIRE would like to thank the Sares Regis Group of NorthernCalifornia and its team for hosting the event, and for providing the tour and fascinating backstory: David Hopkins - Senior Vice President, Meris Ota (MS '04) - VP, Commercial DivisionKevin Choy - Project Manager, DevelopmentTravis Duncan (MS '15, MBA '17) Project Manager, Development, and Jon Wright – Project Manager, Commercial Division.