Rare Mixed-Use Development Launched in Fremont
PCCP Facilitates Development of Artist Walk by providing financing.
Fremont’s Centerville District is getting a rare mixed-use development project following a successful financing completed by PCCP. The finance and investment management firm supplied a senior construction loan to the developer, a joint venture of BHV CenterStreet Properties and JD Capital. Following the closing of the loan, the development broke ground on its Artist Walk project along Fremont Boulevard.
Located at 37070-37222 Fremont Blvd., the Class A development will combine 28,641 square feet of retail space and 185 residential units. The 6.2-acre site will house four- and three-story buildings with surface parking and 12 to 17 street-level restaurants and stores.
Eighteen of Artist Walk’s residential units will be designated as market-rate. Residences will offer one- and two-bedroom floor plans, and feature in-unit washer/dryer, private balconies and nine-foot-high ceilings. The resident amenity package includes a business center, clubhouse and a pool.
City officials approved the project in late 2013, and earlier this year, BHV acquired the property known as the Centerville Unified Site from the city for $6.8 million. Environmental remediation addressed contaminated soil and air that were legacies of the site’s previous usage.
The site is situated in an area that offers accessibility to major employment centers of Silicon Valley, Oakland, and San Francisco. An ACE Train and Fremont BART station are located nearby. The project is slated for completion in July 2017.
Rendering courtesy of BHV CenterStreet Properties