Housing in the San Francisco Bay Area is always perpetually in high demand, but a recently completed apartment complex located at the epicenter of one of the region's busiest transportation corridors will test how high of a premium transit-oriented units can command.
Republic Urban Properties' Gateway at Millbrae Station has transformed a 9-acre expanse of surface parking lots into a transit-oriented hub complete with apartments, office space, a hotel and ground-floor restaurant space. Upon completion, it will include nearly 400 new housing units, the first of which were completed at the Rollins apartment complex, which earned a 2023 CoStar Impact Award as judged by real estate professionals familiar with the market.
The project is part of the Bay Area Rapid Transit Authority's push to redevelop land around its regional light-rail stations into hubs that will not only help meet the worsening housing shortage but also boost ridership on public transportation routes for years to come.
While the pandemic and subsequent shift to remote work has resulted in a mass dropoff in commuter traffic throughout the Bay Area, Republic Urban President Michael Van Every said he is confident it will bounce back.
“I’m a believer that transit will come back,” he said. “I do know that traffic is still pretty bad. Nobody should ever count San Francisco out. To me it’s the greatest city in the world.”
About the project: The 78-unit Rollins complex at 181 N. Rollins Road is a piece in Gateway at Millbrae Station's larger development ecosystem that includes retail, dining, services, a hotel, office and plenty of outdoor space. The project was designed to accommodate growth in both pedestrian and bike traffic, and includes features such as a parking garage equipped with a car-stacking system that maximizes space in the transit-oriented location.
What the judges said: The project's size, amenities and mixed-use character make it "very hard to replicate," said Zach Haupert, a broker with Touchstone Commercial Partners.
Starboard Commercial Real Estate President Hans Hansson said that its location near mass transportation options make it "hands down, the best."
They made it happen: Under the leadership of President and Managing Partner, Michael Van Every, Republic Urban Properties spearheaded the project along with fellow partners Principal Financial Group. The property is managed by Woodmont Real Estate with involvement from Cahill Contractors, Blach Construction, Studio T-Squared Architects, LPMD Architects, and HMH Engineers, for construction and design.