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SRGNC Launches The Plaza Apartments in Foster City

July 1st, 2012

The Plaza Foster City is the first phase of an overall master plan redevelopment of 20 acres in Foster City called the Pilgrim Triton Master Plan, whose vision is to enhance Foster City by creating additional opportunities, to work, live, shop, gather and enjoy another first class master planned neighborhood in Foster City. Planning for the Pilgrim/Triton master plan has been in the works for more than five years and ultimately will include a total of over 700 residential units along with almost 300,000 square feet of commercial office space.  A new park is also included in the 20-acre master plan.

The Plaza is a four and five story structure surrounding a five story parking garage where residents will park on the same level as their apartment. There is a limited retail component at grade and adjacent to the Leasing Center. The project will include a new park/plaza. The interior private courtyards have been designed with amenities including pool, spa, outdoor kitchen, zen/water garden, and fireplace/meeting space. Other amenities will include a club room, fitness center, yoga room, business center, and theater.

307 Luxury 1-, 2- and 3-Bd Foster City Rental Homes will begin leasing in Fall 2012.

The City of Foster City’s civic and business leaders attended the luncheon celebration including Mayor Linda Koelling who spoke to the crowd about the positive impact the redevelopment of the Pilgrim/Triton area of Foster City will have on the community.

“Since most of Foster City was completed in the 1970’s, several areas along the Highway 92 corridor are ripe for redevelopment including the Pilgrim/Triton neighborhood,” said Mayor Koelling. “It is rewarding to see the first phase of the 20-acre development begin with new workforce housing.  The Plaza, in Foster City captures the vision of the future for our city.  Like the mythological bird, the Phoenix, the Pilgrim/Triton project will grow to enhance the economic vibrancy and vitality of our community. I look forward to its completion.”

“It has been rewarding to work with Foster City’s elected officials and staff to plan a fresh new neighborhood that replaces obsolete light industrial buildings,” said Jeff Smith, vice president for SRGNC’s multifamily development division.  “Pilgrim/Triton will bring many new residents to the community and build a larger tax base to support community services.”

For updates on our new community coming Fall 2012, and more news about Foster City and surrounding areas, follow us on Twitter (@ThePlazaFC) and “like” us on Facebook at /ThePlazaFC. Be sure to register with The Plaza for a ‘First Look’.

In addition to The Plaza in Foster City, SRGNC is developing a number of multifamily projects on the peninsula including 333 Main Street in Redwood City.  The 132-unit luxury complex could break ground before the end of the year.

Sares Regis Group of Northern California and its affiliates, Regis Homes Bay Area and Regis Contractors of Northern California, are regional companies based in San Mateo, California, and are affiliated with Irvine-based Sares Regis Group.  As leading developers and managers of commercial and residential real estate in the western United States, today the companies have a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 16,200 rental apartments and 15.5 million square feet of commercial and industrial space.  Since its inception, Sares Regis Group has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.  For more information, please visit: www.srgnc.com.