As property manager for Northwestern Mutual Life of an aging industrial complex in Foster City, Sares Regis identified redevelopment potential for this extreme value add by re-entitling 150,000 s.f. of multi-tenant and industrial buildings to 300 apartments, 20,000 s.f. of retail, 24 town homes and 180,000 s.f. of office on a 10-acre site. By creating a mixed-use master plan in an adaptive reuse play, we created a sustainable second life for this neighborhood. Taking a holistic approach, Sares Regis successfully created and executed a re-entitlement strategy for the project including a General Plan Amendment, Zoning Change and a complete CEQA process. The density and income-producing square footage on the property was increased by 400%. By partnering with other land owners, Sares Regis was able to provide a 45% savings for the fixed costs on the project, delivering entitlements on time and below budget. The buildings are targeting a LEED Silver Certification.

Services rendered: Value Optimization, Entitlement, Master Planning, Marketing, Public Relations, Redevelopment, Development Management, Property Management, Exit Strategy