Silicon Valley Business Journal
From the article:
As weekends go, March 16–17 was a big one for Wilson Meany partner Janice Thacher. The date marked the first release of homes at Bay Meadows, the 83-acre San Mateo development she has worked to develop for more than 10 years. The former racetrack site overcame numerous financial challenges and opposition hurdles. I spoke to her about the project, what’s next and what she learned.
Can you give me a project update?
We have the first two neighborhoods selling now: Landsdowne, which is being built by Shea Homes, and Amelia, which is TRI Pointe Homes. There is a total 156 townhouses in those two neighborhoods. We will start construction sometime in the next month on a 108-unit apartment building. The Nueva School is under construction, and they’ll be open in fall of 2014.
What parcels are left to be sold?
The business plan is, we will sell the land for the townhouses and single-family homes to homebuilders. And then we will construct the apartments and condominiums ourselves. We don’t want to build it all at once. We’ll give the homebuilders a chance to absorb space without having too much on the market at one time.
What will be the breakdown between rental and ownership?