Newport Beach builder sells out 149-home project in Chino Hills in 2 years

Prices ranged from mid-$500,000s to low-$800,000s.

Bristol community in Chino Hills, Calif.

Trumark Homes sold out the 149-home Bristol community in Chino Hills, Calif., in two years. (Courtesy: Trumark)

Trumark Homes says it’s sold all 149 homes at its Bristol community in Chino Hills.

The Newport Beach-based homebuilder’s 31-acre community, designed by KTGY Architecture+Planning, began selling in March 2017.

The project — which won community-of-the-year honors from  Builder & Developer magazine — has homes from 1,814 to 2,945 square feet in size with 107 two-story, single-family detached homes and 42 attached three-story townhomes. Prices ranged from the mid-$500,000s to low-$800,000s.

Trumark says 60% of Bristol buyers were from Los Angeles County, mostly Diamond Bar, Arcadia and Walnut; 30% were from Chino and Chino Hills, and the rest were from Orange County and elsewhere in the Inland Empire.

“The success we’ve experienced at Bristol is a direct response to local buyers’ desire for convenience and accessibility in a rapidly growing and urbanizing area,” said Richard Douglass, Trumark’s Southern California division president.

Elsewhere in Southern California, Trumark is preparing for final sales at its Founders community (76 homes), also in Chino Hills; Lewis+Mason, 153 three-story townhomes in Anaheim’s Platinum Triangle; and Centerhouse, 114 condominiums in Ontario.

The market for new homes is tepid.

New-home sales in Riverside and San Bernardino counties fell 14% to 1,667 units in the first quarter, according to CoreLogics. And MetroStudy says the Inland Empire had 1,707 finished homes for sale as of March 31. That’s up 29% over 12 months and up 25% vs. the five-year average.

As a result, builders are pruning future plans. Riverside and San Bernardino counties have 2,616 units under construction, down 25% in a year and down 9% vs. the five-year average.

July 29, 2019

 

 

Trumark Homes Grand Opens SP78 Community In Downtown San Jose

Award-Winning Homebuilder Introduces 78 New Homes to Nation’s Hottest Housing Market

SAN RAMON, Calif., March 26, 2019 – Trumark Homes, a national award-winning California homebuilder, announced today the Grand Opening of SP78 at San Pedro Square in the heart of San Jose, recently named the nation’s hottest housing market by Zillow. Representing the first for-sale product of its kind in San Jose’s downtown district, SP78 will feature 78 new three-story townhomes adjacent to the popular San Pedro Square Marketplace.

Inside a model home at SP78 in San Jose.

 

“The recent announcement of Adobe’s new downtown office tower and Google’s proposal for a transit-oriented village coupled with the city’s greater effort for urban revitalization of the area further demonstrates the tremendous opportunity associated with downtown San Jose,” said Tony Bosowski, Northern California Division President at Trumark Homes. “San Jose continues to draw new residents who seek convenience and jobs in emerging tech markets. The impact of the tech industry on housing supply is very apparent and has created a real demand for new construction, for-sale homes like SP78.”

Located in the heart of Silicon Valley, the homes will offer attached direct-access garages and close proximity to downtown office, retail, restaurants and entertainment, convenient access to public transportation and freeways, and a short commute to the Mineta San Jose International Airport. Since launching sales in summer 2018, the community has already reached an impressive sales milestone with over 30 percent sold, a testament to the influx of buyers to San Jose, predicted to remain the nation’s hottest housing market in 2019. The single-family two- and three-bedroom townhomes will feature 10 foot ceiling heights, abundant natural light, expansive great rooms and contemporary designs. Prices begin in the mid-$900,000s and first move-ins are currently slated for spring 2019.

“SP78 is the ideal product for those who desire an urban, walkable lifestyle seamlessly connected to nearby dining, entertainment and major employers all while staying in arm’s reach of key transportation,” added Bosowski.

One of the highest geographic concentrations of high-tech companies in the world and home to global titans like Cisco and Adobe, San Jose enjoys the lowest unemployment rate and the most jobs per person among the 50 largest U.S. metros. Further, 75 percent of all Fortune 500 companies in the Silicon Valley region are headquartered within 15 miles of downtown San Jose.

Trumark Homes hosted a Model Home Grand Opening event on February 23, drawing over 200 prospective buyers to experience the contemporary homes firsthand.

About Trumark Homes

Trumark Homes is a visionary, next generation homebuilder with a robust portfolio of new home neighborhoods spanning the state of California. Emphasizing distinction and innovation in every home, Trumark Homes focuses on core infill developments in locations that exhibit strong job growth and provide access to major job centers. The nationally award-winning homebuilder is part of the Trumark Group of Companies, a diversified real estate development and building firm that also includes: Trumark Communities, a residential land development platform; Trumark Commercial, which builds, leases and sells commercial buildings; and Trumark Urban, a vertically integrated residential developer focused on core urban neighborhoods. For more information, visit www.TrumarkHomes.com.

Award-Winning Homebuilder to Close on Six Parcels in First Two Quarters of 2019 Representing $541M in Projected Revenues 

Newport Beach Calif. (MAY 8, 2019) – Trumark Homes, a national award-winning California homebuilder, announced today it recently acquired a 4.6-acre land parcel in Brea, CA, purchased from J.H. Real Estate Partners, Inc. and located within the Central Park Village master plan. In addition to this new Southern California site, Trumark Homes will close on five additional acquisitions across California, totaling 450 residential lots and an estimated $541M in projected revenues. With robust demand in attractive suburban markets, the homebuilder’s new acquisitions precede an exciting wave of new communities taking shape across the state.

“In each of these vibrant target markets, our team identified unique opportunities to acquire parcels and add significant value by improving or changing existing entitlements,” said Michael Maples, Co-Founder and Principal of Trumark Homes. “Most of these acquisitions started in 2017 or before, so we are pleased with the strategic timing of each closing as it fills our pipeline for future market demand.”

The Brea acquisition will consist of 62 three-story attached townhomes and 20 stacked flats. Located on the corner of W. Central Avenue and Site Drive in Brea, the project lies across from a new one-acre community park and four-story medical office building. The entrance will serve as a pedestrian plaza area and provide a rich environment for engagement and community with an enhanced street frontage, water feature and pedestrian paths. The community will offer multiple design layouts per floor, allowing buyers the option to select a design layout of their choice per floor to create the ultimate customizable home. Pre-sales are slated to launch in fall 2019 and models expected to open in spring 2020.

By the end of this month Trumark will complete acquisitions on a total of six properties in 2019. In addition to the Brea property, the Southern California division is closing on a former avocado orchard re-entitled for 95 residential lots in Escondido. Trumark’s Northern California division will close on the company’s first age-qualified community of 59 lots located in The Collective master planned community in Manteca, an 18 luxury-home community in Danville, a 59-lot parcel in Sunnyvale, and a 138-unit project in Newark.

“This volume of closings in such a short period of time is a testament to our team’s incredible efforts and success in deal making, problem solving and tenacity, as we continue to build momentum as a company,” said Gregg Nelson, Co-Founder and Principal of Trumark Homes.

Trumark Homes is currently active in communities across the state with homes for sale at SP78 in Downtown San Jose, Glass Bay in Newark, Perch and Fielding in Dublin, Lewis + Mason in Anaheim and Centerhouse in Ontario.

About Trumark Homes

Trumark Homes is a visionary, next generation homebuilder with a robust portfolio of new home neighborhoods spanning the state of California. Emphasizing distinction and innovation in every home, Trumark Homes focuses on core infill developments in locations that exhibit strong job growth and provide access to major job centers. The nationally award-winning homebuilder is part of the Trumark Group of Companies, a diversified real estate development and building firm that also includes: Trumark Communities, a residential land development platform; Trumark Commercial, which builds, leases and sells commercial buildings; and Trumark Urban, a vertically integrated residential developer focused on core urban neighborhoods. For more information, visit www.TrumarkHomes.com.

May 8, 2019

TRUMARK HOMES MAKES LAND DEALS FOR SIX NEW CALIFORNIA DEVELOPMENTS

The deals include 450 residential lots and an estimated $541M in projected revenues.

A rendering of the future townhouse and flats community Trumark Homes plans to build on the newly acquired site in Brea.

 

 

 

 

 

 

 

Trumark Homes said Tuesday it recently acquired a 4.6-acre land parcel in Brea, California, purchased from J.H. Real Estate Partners, Inc. and located within the Central Park Village master plan.

In addition to this new Southern California site, Trumark Homes will close on five additional acquisitions across California, totaling 450 residential lots and an estimated $541M in projected revenues.

“In each of these vibrant target markets, our team identified unique opportunities to acquire parcels and add significant value by improving or changing existing entitlements,” said Michael Maples, co-founder and principal of Trumark Homes. “Most of these acquisitions started in 2017 or before, so we are pleased with the strategic timing of each closing as it fills our pipeline for future market demand.”

The Brea acquisition will consist of 62 three-story attached townhomes and 20 stacked flats. Located on the corner of W. Central Avenue and Site Drive in Brea, the project lies across from a new one-acre community park and four-story medical office building. The entrance will serve as a pedestrian plaza area and provide a rich environment for engagement and community with an enhanced street frontage, water feature and pedestrian paths. The community will offer multiple design layouts per floor, allowing buyers the option to select a design layout of their choice per floor to create the ultimate customizable home. Pre-sales are slated to launch in fall 2019 and models expected to open in spring 2020.

By the end of this month Trumark will complete acquisitions on a total of six properties in 2019. In addition to the Brea property, the Southern California division is closing on a former avocado orchard re-entitled for 95 residential lots in Escondido. Trumark’s Northern California division will close on the company’s first age-qualified community of 59 lots located in The Collective master planned community in Manteca, an 18 luxury-home community in Danville, a 59-lot parcel in Sunnyvale, and a 138-unit project in Newark.

“This volume of closings in such a short period of time is a testament to our team’s incredible efforts and success in deal making, problem solving and tenacity, as we continue to build momentum as a company,” said Gregg Nelson, co-founder and principal of Trumark Homes.

Trumark Homes is currently active in communities across the state with homes for sale at SP78 in Downtown San Jose, Glass Bay in Newark, Perch and Fielding in Dublin, Lewis + Mason in Anaheim and Centerhouse in Ontario.

May 7, 2019

 

 

Trumark Homes Move Ahead on Brea Housing Project

By Katie Murar, May 6, 2019

Trumark Homes rendering

 

 

 

 

 

 

Trumark Homes is moving ahead on an 82-unit housing project along Central Avenue in Brea.

The builder, a subsidiary of Danville-based developer Trumark Cos. that operates out of Newport Beach, last month closed on a roughly 4.6-acre site about a mile west of the Orange (57) Freeway.

The land was sold by Newport Beach-based JH Real Estate Partners Inc., and traded hands for about $14 million, or nearly $3 million an acre, according to property records.

The development, called Central Park Village, will hold 62 three-story attached townhomes and 20 stacked flats at the site on the corner of West Central Avenue and Site Drive, not far from the Memory Garden Memorial Park and Mortuary.

The land was the former home of the Brea Community Hospital, which was shuttered in 2005 and demolished in 2006.

The homes, currently in the early construction phase, will be across from a privately owned community park and a newly built four-story medical office building that along with apartments from Irvine-based Western National Group are also part of the new Central Park Village development, whose entire cost is estimated at around $100 million. The first homes are scheduled to be available online next spring.

Prices for the townhomes will start in the high-$700,000s while the flats will be priced in line with Brea’s affordable housing regulations.

The housing element of the development, yet to be named, will be the final piece to the master-planned community, which was approved by Brea’s city council in 2012.

Trumark has expected to be involved in the for-sale housing portion of the development for much of that time.

“It’s been a long time coming, but it’s worth it,” said Richard Douglass, Trumark’s Southern California division president.

Tri Pacific Capital Advisors acted as a financial partner on the deal.

Trumark is also halfway through construction of its Platinum Triangle apartment project on Katella Avenue and Lewis Street, with sales ongoing.

That townhome project, called Lewis and Mason, will have 153 homes ranging in price from the high-$500,000s to the low-$700,000s. It’s one of the first for-sale housing projects in the apartment-heavy Platinum Triangle.

It plans on continuing to look for infill development opportunities in OC, Douglass said.

Landsea Plans 50 Homes in LA

Newport Beach-based Landsea Homes has its first Los Angeles County project in the works, thanks to another OC developer.

The homebuilder plans 50 high-end homes at Deerlake Ranch, a master-planned community in the San Fernando Valley.

Model homes at the community, called Crestley at Deerlake Ranch, are slated to open by the end of the year, with the first home closings in spring 2020.

The master-planned development is north of the (118) Freeway off Topanga Canyon. It was acquired in 2014 by Newport Beach-based Foremost Communities.

Landsea Homes, which moved its headquarters from Irvine to Newport Beach last year, is the U.S. subsidiary of China-based Landsea Group.

In OC, it has two big projects underway. The largest is IronRidge, a 96-acre Lake Forest project with 600 homes.

May 6, 2019

 

 

 

Downtown San Jose residences draw dozens of buyers

SP78 housing development is part of emerging downtown San Jose village near rail station, Google project

PUBLISHED:

SAN JOSE — A new residential development in downtown San Jose being built by Trumark Homes is poised to launch an emerging urban village near the Diridon rail station and Google’s future transit-oriented community.

SP78 has already landed dozens of buyers, even while units are being constructed in the 78-unit development, which is perched on the edge of the bustling San Pedro Square restaurant and entertainment district in San Jose.

“The recent announcement of Adobe’s new downtown office tower and Google’s proposal for a transit-oriented village coupled with the city’s greater effort for urban revitalization of the area further demonstrates the tremendous opportunity associated with downtown San Jose,” said Tony Bosowski, Northern California Division President at Trumark Homes.

Tech titans and developers are actively planning millions of square feet of offices in downtown San Jose.

Google has proposed a transit village near the Diridon train station consisting of office buildings, homes, shops, restaurants and open spaces where 25,000 would work, including 15,000 to 20,000 of the search giant’s employees.

San Jose-based Adobe intends to expand its three-building downtown headquarters campus by adding a fourth office tower on an adjacent parcel, saying 4,000 of the tech titan’s employees would work in the new high rise.

“The impact of the tech industry on housing supply is very apparent and has created a real demand for new construction, for-sale homes like SP78,” Bosowski said.

The new homes might be a hot ticket. By the end of last week, at least 28 of the 78 residences had been sold, according to a Trumark Homes sales representative who was on site.

The prospect that the Diridon rail hub, which already provides links to Caltrain, Capitol Corridor, Amtrak, ACE Train and light rail line, will also become a BART stop in the next several years, has fueled much of the activity lately in downtown San Jose.

The SP78 project consists of three-level town homes on the north side of West Julian Street between Coleman Avenue and North San Pedro Street.

Prices for the residences start in the mid-$900,000 range, Trumark Homes said. The Zillow website estimated the low end asking price at around $959,000 and the high end around $1.14 million.

Sizes for the various models range from roughly 1,300 square feet to 1,970 square feet, according to the development’s website.

“It’s a very dense overall development,” said Bob Staedler, principal executive with San Jose-based Silicon Valley Synergy, a land use and planning consultancy. “Glad to see it’s selling well.”

SP78 is part of what could evolve into a village and new neighborhood in the North San Pedro Square area. Officials with San Jose’s now-defunct Redevelopment Agency had in years past envisioned a village in the long-blighted district.

“This was a former brownfield site that we cleaned up,” said Staedler, a former city redevelopment staffer. The goal of the improvements, Staedler added, was to pave the way for “a new neighborhood in the downtown.”

All told, at least 1,500 residential units are being eyed in an area bounded by State Route 87 on the west, freight railroad tracks and Bassett Street on the north, Coleman Avenue and North Market Street on the east and West St. James Street on the south.

“San Jose continues to draw new residents who seek convenience and jobs in emerging tech markets,” Bosowski said.

March 25, 2019

 

 

 

CFO Moves – week ending February 8, 2019

February 11, 2019

Trumark Companies [SAN RAMON, Calif.] announced that it has appointed the company’s corporate controller Eric Lindquist to serve as its Chief Financial Officer of the Trumark Homes and Urban divisions. Lindquist previously served as Corporate Controller of Trumark Homes for the past year. Prior to joining Trumark, Lindquist served as the Vice President of Finance for the Bay Area Division of Lennar Corporation (formerly CalAtlantic Homes). He has also held positions as a Controller at Blu Homes Inc. and Audit Senior Manager with KPMG.

February 11, 2019

 

 

 

LINDQUIST NAMED CFO OF TRUMARK HOMES AND URBAN DIVISIONS

February 4, 2019

Will oversee new real estate investment and development opportunities.

Trumark Companies, the California-based real estate developer, announced today that it has appointed the company’s corporate controller Eric Lindquist to serve as its chief financial officer of the Trumark Homes and Urban divisions.

In a press release, the company stated, “As Trumark looks to expand across a diverse collection of new real estate investment

and development opportunities, Lindquist will utilize his in-depth real estate financing knowledge to strengthen Trumark’s portfolio, and position the company as an innovative leader in the home building industry.”

A Trumark home.
A Trumark home. 

“In the time that Eric has been with Trumark, his energy, business expertise and strong drive have proven instrumental to our company’s continued growth as one of the West Coast’s leading private home builders,” said Gregg Nelson, principal and co-

With more than 17 years of experience in the real estate and finance industry, Lindquist previously served as corporate controller of Trumark Homes for the past year, where he oversaw financial planning, accounting strategy, financial risks and analysis of economic forecasting. Prior to joining Trumark, Lindquist served as the vp/finance for the Bay Area Division of Lennar Corporation (formerly CalAtlantic Homes), where he was responsible for $250 million in revenue for the public home builder, growing revenue by more than $100 million in just two years. He has also held positions as a controller at Blu Homes Inc. and audit senior manager with KPMG. With broad experience in public accounting and finance strategy, Lindquist has extensive experience leading the finance, accounting, HR and IT functions and supporting the long-term financial positioning of public and privately held companies.founder of Trumark Companies. “We are thrilled to usher him into this new role, and confident in his ability to maximize our sustainable growth and profits to further steer Trumark’s legacy of creating inspiring residential communities.”

“With Eric’s strong track record of increasing revenue for leading developers in the homebuilding industry, we are poised for prosperity as he helps us maximize our profits and success and strategically plan for our revenue in the growing secondary markets across Northern California and Southern California,” said Michael Maples, principal and co-founder at Trumark Companies.

Lindquist holds a bachelor’s degree in business economics with an emphasis in accounting from the University of California at Santa Barbara. As a licensed CPA in the State of California, he is also a member of the California Society of CPAs.

 

February 4, 2019

 

 

 

Trumark Communities Breaks Ground On First Wellness-Centric Age-Qualified Residential Community In Manteca, California

The Collective to Radically Transform the Paradigm for 55+ Communities by Rooting Every Element in Wellness including the First WELL Certified Clubhouse

SAN RAMON, Calif., Nov. 19, 2018 — Trumark Communities, the national award-winning master planned development division of California development company Trumark Companies, has commenced construction on The Collective, the country’s first age-qualified community devoted to wellness. Located in Manteca, California, The Collective features 478 detached homes and a stunning 10,000-square-foot community clubhouse registered to achieve WELL Certification by the International WELL Building Institute™. The gated community marks the first community within Trumark Communities’ recently launched TruLiving division, dedicated to redefining the age-qualified residential sector.

Committed to improving health and human environments through design, the WELL Building Standard® by the International WELL Building Institute™ partners with communities to benefit health and well-being by aligning with the seven concepts of the WELL Building Standard – air, water, nourishment, light, fitness, comfort and mind.

A rendering of the clubhouse interior at The Collective in Manteca, CA.

“We recognized an incredible opportunity to create a new, disruptive community that would break the mold for the age-qualified housing market,” said Mike Maples, co-founder and principal of Trumark. “Focusing on what we call the ‘unAQ’ and engaging our audience, The Collective will represent an innovative place where residents can live ageless, diverse, healthy lives. There is yet to be anything like this future TruLiving community in the surrounding market, and we anticipate strong interest from homebuyers once sales launch next year.”

Situated on over 120 acres, The Collective will include six distinct neighborhoods. Phase one, consisting of the first three neighborhoods, will be built by Trumark Homes, Taylor Morrison and Anthem United. The detached one- and two-story homes will range in size from 1,502 to 2,870 square feet. Each home will be designed with two-car garages and ground floor master bedrooms, providing convenience for the primary 55+ residents.

The community will feature a 10,000-square-foot WELL Certified clubhouse, called The Campus, featuring a pool, coffee and wine bar, demonstration kitchen, expansive fitness center, game room and more. The fitness center will feature a spin studio, weight room, fitness studio and yoga studio, and a spa room, offering a variety of health and wellness enrichment programs. Outdoors the community will boast amenities including: fire pits and lounge areas, outdoor kitchen, an event lawn, dog park, bocce ball and pickleball courts, trails for walking and jogging, and an amphitheater for outdoor concerts.

Located about an hour and a half from the Sierra Nevada mountains, a two-hour drive from Yosemite National Park, and less than two hours from San Francisco, Manteca offers future residents of The Collective easy access to outdoor adventure destinations.

Sales are anticipated to launch in summer 2019 with model homes slated to debut in fall 2019.  The Collective is located between Louise Avenue and Southland Road off of Highway 99 in Manteca. For more information, visit Thecollectivemanteca.com.

Trumark has a robust portfolio in Northern California comprised of four new home communities, including Glass Bay in Newark, Perch in Downtown Dublin, SP78 in San Jose, and Fielding at Wallis Ranch in Dublin, all of which are at various stages of development. Trumark has been recognized by the National Association of Home Builders (NAHB) at The Nationals Awards and Building Industry Association (BIA) for the Excellence in Home Building Awards.

About Trumark Group of Companies
Celebrating its 30th anniversary in 2018, The Trumark Group of Companies is a diversified real estate development and building firm that includes: Trumark Communities, a master planned community developer; Trumark Homes, a next generation homebuilder; Trumark Commercial, which builds, leases and sells commercial buildings; and Trumark Urban, a vertically integrated residential developer focused on core urban neighborhoods. www.trumarkco.com

About Trumark Communities
Trumark Communities is a nationally award winning residential land development platform focused on acquiring, developing and selling improved lots in master planned communities; current pipeline includes 3,100 lots in prime core-accessible areas of California representing total projected revenue in excess of $500 million. Trumark Communities has realized lot sales to builders of over $300 million since 2015. www.trumarkcommunities.com

About The WELL Building Standard®
The WELL Building Standard® is a performance-based system for measuring, certifying and monitoring features of the built environment that impact human health and well-being through air, water, nourishment, light, fitness, comfort and mind. WELL is managed and administered by the International WELL Building Institute™ (IWBI), a public benefit corporation whose mission is to improve human health and well-being through the built environment. WELL is grounded in a body of medical research that explores the connection between the buildings where we spend more than 90 percent of our time and the health and wellness of its occupants. WELL Certified™ spaces and WELL Compliant™ core and shell developments can help create a built environment that improves the nutrition, fitness, mood and sleep patterns. www.wellcertified.com

January 24, 2019

 

 

 

With new director, condo developer Trumark Urban hunts for smaller projects due to rising construction costs

November 7, 2018


Rachel SandlerUpscale condo developer Trumark Urban is moving to build smaller projects because the cost of constructing high-rises has skyrocketed, mainly due to an industry-wide shortage of skilled construction workers, new managing director Kim Diamond told the San Francisco Business Times.

Trumark Urban has built seven high-rise luxury condos in San Francisco and one in downtown Los Angeles over the past six years. Its San Francisco projects include the Pacific, which sold out $300 million in condos in July, with prices ranging from $1.45 million up to nearly $16 million. Trumark Urban sold several sites where it won approval for new projects due to rising construction costs.

While the majority of the prolific developer’s buildings are at full occupancy, Diamond said the company is pursuing three low-rise residential projects outside of San Francisco because finding enough workers to build high-rises is a headache.

Diamond pointed to the developer’s 25-story Los Angeles project, which went on sale in 2017, as a cautionary tale of trying to build amid a labor shortage. Finding skilled workers was so difficult, she said, it caused significant “disruption to our business.” The construction industry has been grappling with a recent labor shortage, as the sector fails to attract new workers, especially those with the skills needs to build complicated high-rise buildings. According to an August survey from the Associated General Contractors and Autodesk, 80 percent of contractors reported having trouble finding skilled workers, an increase of 70 percent from last year.

The Pacific by Trumark Urban

To accomodate Trumark’s shift into building low and mid-rise projects — which are also easier to finance — the developer is also looking outside of San Francisco. Diamond said Trumark is in the “final stages” of securing deals for smaller, boutique residential projects in San Jose, Los Altos and San Carlos.

“We have expanded into looking at lower rise projects, which generally can be better suited for some of these Peninsula projects and communities,” she said. “Typically it’s a little more uncommon down on the Peninsula to see as many highrise projects being developed.”

The difficulty in getting highrises built is an industry-wide problem, Diamond said. Even as the demand for housing increases and the Bay Area economy grows, developers still have to contend with a minefield of local regulations and ballooning construction costs.

“At least that’s what we’ve found to be the case for us, the ones that tend to be more economically feasible are low-rise and mid-rise projects,” she said.

Diamond was appointed head of Trumark Urban last week, taking over the position vacated by Arden Hearing. Hearing left Trumark in June to join Forty Six North Advisors, an investment company started by Laurence Pelosi.

Previously, Diamond was senior vice president of development and operations at Trumark and was also principal and co-founder of 7×7 Development, a communityfocused real estate development and investment firm.

Trumark Urban condos

November 7, 2018

 

 

 

Trumark Urban Appoints Kim Diamond As Managing Director
To Lead Development Of Upcoming Portfolio Of Homes
Across California

November 6, 2018

Building on its Recent Success, Trumark Urban Eyes New Development Opportunities in San Francisco and Los Angeles

Trumark Urban, a real estate development company with an exemplary track record of creating mixed-use, residentially centric development projects, today announced that it has

elevated company executive Kim Diamond to serve as Managing Director of the company. Following the successful and swift sellouts of Trumark Urban’s portfolio in San Francisco and Los Angeles, including The Pacific, Rowan, Knox and TEN50, the prominent developer is seeking new deals across California. Under Diamond’s leadership, the company will continue to focus on core urban neighborhoods, while extending its reach into key suburban markets on the Peninsula and in the South Bay.

“Kim has been instrumental to the success of Trumark Urban and a critical part of our entitlement efforts, helping us in securing six consecutive project entitlement approvals in San Francisco,” said Gregg Nelson, Principal and Co Founder of Trumark Urban. “We are confident in her ability to champion Trumark Urban’s tradition of creating inspiring communities and homes that enhance the lives of its residents.”

Diamond has over 19 years of experience in the multifamily development business, specializing in both condominium and rental development projects, spanning all phases and aspects of real estate development from land acquisition, due diligence, project entitlement and community outreach, and project financing to construction management, marketing and sales, customer care and warranty management.

In her new role as Managing Director, Diamond will oversee development for Trumark Urban’s projects from property acquisition through build out and sales. In her previous role as Senior Vice President of development and operations for Trumark Urban, Diamond oversaw all aspects of the company’s operations and development, including project entitlement management and due diligence oversight, as well as customer care and warranty management.

“I am eager to take on this important role within Trumark Urban and lead the company to new heights,” said Ms. Diamond. “We have experienced great success with our past projects in San Francisco and Los Angeles and are aggressively seeking out new deals across both Southern and Northern California.”

Prior to joining Trumark Urban, Diamond was principal and co-founder of 7×7 Development, a community-focused real estate development and investment firm. Prior to forming 7×7, Diamond formed ev8 to provide clients with a broad array of real estate development and advisory services, including asset acquisition strategies, entitlement management, and community and stakeholder outreach.

Diamond holds a Master of Arts degree in Urban Planning from the University of California at Los Angeles and a bachelor’s degree from Tufts University, with a concentration in urban design and planning. She currently serves as the Chair of the Board of the Urban Land Institute’s San Francisco District Council, past Chair of Mission Advancement and Chair of the Program’s Committee. Diamond is also a member of Lambda Alpha International, the former Chair of the Green Working Group for the Building Industry Association of the Bay Area and the Chair of the Board for Lao Family Services, a social services organization focused on immigrant communities.

Trumark Urban develops condominiums in core urban neighborhoods in close proximity to jobs, transit and employment centers. Recognizing the depth of the market, Trumark opened its first urban development operation headquartered in San Francisco in 2012. Within 12 months, Trumark Urban became San Francisco’s largest for-sale condominium developer. Trumark has entitled and/or built nine projects in San Francisco and Los Angeles totaling 1,200 units and representing over $1.5 billion in revenue. Since its inception, the company has sought approvals for seven projects from the San Francisco Planning Commission and received unanimous approvals for all requested entitlements.

About Trumark Group of Companies
Celebrating its 30th anniversary in 2018, The Trumark Group of Companies is a diversified real estate development and building firm that includes: Trumark Communities, a master planned community developer; Trumark Homes, a next generation homebuilder; Trumark Commercial, which builds, leases and sells commercial buildings; and Trumark Urban, a vertically integrated residential developer focused on core urban neighborhoods. www.trumarkco.com

About Trumark Urban

Trumark Urban develops high-density condominiums and mixed-use projects in global gateway markets with a focus on core urban neighborhoods close to jobs, transit and local businesses. With offices in San Francisco and Los Angeles, the firm has built or entitled a portfolio of more than 1,200 condominiums and over one million square feet representing more than $1.5 billion of revenue. www.trumarkurban.com.

November 6, 2018