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Real Estate

Nonprofit homebuilder plans to build 400-plus affordable North Bay units

in People

A Bay Area nonprofit real estate developer recently revealed plans to build 3,000 homes in Northern California over the next five years, many of which will be for those with low incomes and the homeless. A few hundred of those dwellings are in the works for North Bay counties.

As a part of its new 2021–2025 strategic plan, MidPen Housing plans to build environmentally sustainable housing with 40% of the units dedicated to at-risk and extremely low-income individuals and families.

The Foster City-based developer of subsidized housing said it has a “robust pipeline“ of North Bay projects:

  • Casa Roseland in Santa Rosa: 75 units
  • Mahonia Glen in Santa Rosa: 99 units
  • 414 Petaluma in Petaluma: 41 units
  • Napa Pipe in south Napa: 120 units
  • Fair Haven Commons in Fairfield: 72 units

“We have an ambitious goal for very-low-income housing,” said Jan Lindenthal, chief real estate development officer, told the Business Journal.

Continue Reading on Northbay Business Journal

Santa Rosa’s Vintage Wine Estates to go public in $690M deal

in Business

Vintage Wine Estates, which has built a portfolio of over 50 wine and spirits brands from the California Wine County and the Pacific Northwest to become one of the largest U.S. wine producers, has inked an agreement with a special-purpose acquisition company to become publicly traded.

The deal between London-based Bespoke Capital Acquisition Corp. and the Santa Rosa-based porfolio that includes brands such as Viansa Sonoma and Napa Valley’s Girard is valued at $690 million plus $50 million in future potential consideration, according to the announcement Thursday.

And just before the merger agreement was signed, Wasatch Global Investors acquired a $28 million stake in Vintage.

“At some point, it takes a lot of capital to be in the wine business, and we needed more capital to continue our growth,” Vintage CEO Pat Roney told the Business Journal.

Continue Reading on Northbay Business Journal

38 Degrees North project in Santa Rosa attracts residents from Bay Area and beyond

in Housing/News
Courtesy of Kennedy Wilson
Courtesy of Kennedy Wilson

The first residents are moving into 120 apartments at 38 Degrees North, the first phase of a newly constructed southeast Santa Rosa apartment community.

It’s a project by global real estate company Kennedy Wilson (NYSE:KW). The project, located at 1020 Kawana Springs Road at Petaluma Hill Road, is targeted to tenants who want high-end apartment living with modern residences and amenities, according to the developer. About 40% of the units are leased so far.

Continue Reading on Northbaybusinessjournal.com

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