More Chinese developers are moving forward with sizable Bay Area residential projects outside of the city of San Francisco. Several of these projects are condo developments that would impact markets with a minimal supply of new for-sale product. Others will deliver a significant number of townhomes or redevelop a waterfront. Landsea Holdings, a U.S. subsidiary of a large Chinese homebuilder, recently purchased a former industrial campus in Sunnyvale for $186 million. The development site is entitled for 450 townhomes. According to the site's seller, Watt Communities, Landsea has an appetite to grow its Northern California operation. "(The site sale) shows how valuable entitled residential sites can be in prime Silicon Valley locations," said Max Frank, Watt's division president, in a release. In Milpitas, BDK Capital, a joint venture between Singpoli Capital Corp. and American BD, has proposed a 450-unit project, which would feature two, 22-story towers. The proposed...
- Chinese developers are behind some of the Bay Area's stand-out residential projects.
- Most of the project's proposed by Chinese developers are high rises or feature more than 450 units.
- A two-tower, nearly 650-condo project is significant for downtown San Jose.