Republic Urban Properties, Principal Real Estate Plan $401M Gateway at Millbrae Station Mixed-Use Project in Bay Area
MILLBRAE, CALIF. — A partnership between Republic Urban Properties and Principal Real Estate Investors is preparing to break ground on a transit-oriented, mixed-use project named Gateway at Millbrae Station in Millbrae, a suburb just south of San Francisco.
Located at the Millbrae Bay Area Rapid Transit (BART) station, the development will comprise 157,000 square feet of office space, 320 market-rate apartments, 80 affordable housing units, a 164-room hotel, 400 homes and 44,000 square feet of retail. Development costs are estimated at $401 million.
The two developers formed a partnership called Republic Millbrae LLC, which will finance, construct and own the residential and office components of the project.
“Gateway at Millbrae Station promises to be the new standard for revitalizing transit stations by increasing ridership while increasing revenues and creating much-needed affordable housing and jobs for the city of Millbrae and San Mateo County,” says Michael Van Every, president and CEO of Republic Urban Properties.
The Millbrae BART Station and parking garage will remain open during construction, which is scheduled to begin on Wednesday, Dec. 4.
“BART’s transit-oriented development helps the Bay Area address two of its greatest challenges: worsening traffic congestion and the lack of affordable housing,” says Bevan Dufty, BART board president. “We commit to working with all of BART’s stakeholders to develop vibrant, complete communities with housing, jobs and transit access.”
TS Studio Square designed the multifamily component, Form 4 Architecture designed the office component and ACRM Architects designed the hotel. Blach Construction and Cahill Contractors are the general contractors. Construction of all components is slated for completion in summer 2022.
Republic Urban Properties has developed several other transit-oriented development projects in California, including LINQ at Berryessa and Santa Clara at Caltrain Station.
— Alex Patton