SAN FRANCISCO, CA - TMG Partners is hosting a groundbreaking on Friday, May 11 to celebrate affordable housing week and TMG’s new Emeryville projects. Featured speakers will be Emeryville Mayor Jennifer West and Assembly Member Nancy Skinner, who represents Emeryville in the 14th District of the State Assembly. The ceremony begins at 2:30 pm at the corner of 64th and Christie Streets and continues with a tour and a mixer at Public Market Emeryville.
The groundbreaking will mark the commencement of a 190-unit apartment project with 29 units of affordable housing at 64th and Christie Streets and the construction of an outdoor green demonstration project by TMG at the Public Market Emeryville. Called The Green Living Room, the demonstration project is in partnership with the City of Emeryville and the State of California.
A $5 million California Pollution Control Finance Authority Infill Grant was awarded to the 64th and Christie apartments, with the funds being used to remediate historic contamination conditions on the site and to create a clean site for housing. A City of Emeryville Successor Agency grant of $3.1 million dollars was received to create affordable units for very low-income families earning less than 50 percent of the area median income. The 190-unit apartment project is a joint venture of TMG Partners and Essex Property Trust and is being designed by Steinberg Architects of San Francisco.
The apartment building at 64th and Christie is part of the larger TMG 14-acre Public Market project, which is the recipient of a California Catalyst Communities Pilot Project grant of $1.35 million. This funding will be used to create an outdoor green demonstration project with electric vehicle charging stations, a solar carport, models of recycling and composting, environmental education and science displays designed by The Guzzardo Partnership of San Francisco. TMG and their capital partner at Public Market, Rockwood Capital, are completing the rebranding of Public Market to welcome a new Urban Outfitters, recently opened Guitar Center, and other exciting tenants to their mixed use retail center. The rebranding and remodeling have been designed by Field Paoli Architects of San Francisco and Crome Architecture of San Rafael. The Public Market re-brand has been the first phase in redevelopment of the broader site into a dense, green infill project, which was designated as a LEED ND Platinum project in 2008.
“We are proud to be launching these exciting projects with our public partners in the City of Emeryville and the State of California to deliver in Emeryville today models for green urban infill,” said Michael Covarrubias, Chairman and CEO of TMG Partners. “We are pleased to provide a high quality, transit oriented infill rental community in an underserved market, meeting the needs of today’s urban tenant,” noted John Eudy, Executive Vice President of Development, Essex Property Trust.
TMG Partners, a privately held California corporation headquartered in San Francisco, is a full-service real estate development company. TMG focuses exclusively on urban infill projects in the San Francisco Bay Area. Over the last 27 years, TMG has developed approximately 20 million square feet of office, research and development, for-sale, and multi-family residential and retail projects, and more than 400 acres of land, with a portfolio valuation in excess of $3 billion.
Essex Property Trust is a Real Estate Investment Trust, based in Palo Alto, California with an $8 billion total market capitalization. The Company owns and operates over 32,000 multifamily rental units in California and Washington and has developed over 10,000 multifamily units over the last 25 years.
Rockwood Capital is a privately held real estate investment firm with offices in San Francisco, Los Angeles, and White Plains, N.Y., and is currently managing more than $4.8 billion of real estate.