MILPITAS, CA--(Marketwired - Apr 2, 2014) - Trumark Homes will hold a grand opening on Saturday, April 5, at its new eight-acre PACE development, which offers 134 affordable, desirable homes for Silicon Valley's young professionals, couples and growing families. The development will include two communities, Velocity and Momentum, offering a mix of detached single-family homes and attached townhomes with design features rarely found in their price range, including 10-foot ceilings, expansive windows and decks, and available bi-folding walls that bring the outdoors inside.
Trumark Homes developed the former commercial site in partnership with Resmark Land and Housing, a division of The Resmark Companies. PACE is the fourth Silicon Valley project that fast-expanding Trumark has acquired over the past year and the third to involve Resmark as a partner. Trumark has hundreds of homes coming to market over the next year and more than 3,600 more lots under control from Sacramento to the Silicon Valley.
"People are responding enthusiastically to the PACE neighborhoods because they offer strong promises of modern sensibilities with homes that capture the imagination, great amenities and outdoor spaces," said Michael Maples, principal and co-founder of Trumark Companies and related entities. "The pace is picking up at Velocity and Momentum."
PACE is designed to appeal to Silicon Valley single professionals, young couples, and growing and extended families seeking relief from the area's expensive rental market.
Velocity and Momentum share common amenities that allow and encourage residents to gather and enjoy the great outdoors. These include a playful and imaginative tot lot that includes a bubbling fountain, a patio area with a fire pit, and two outdoor kitchens. Momentum is offering 43 single-family three-story homes ranging in size from 2,225 to 2,489 square feet, and Velocity includes 91 single-family attached three-story townhomes ranging from 1,200 to 1,947 square feet.
"We choose the name PACE for this community -- along with Velocity and Momentum -- because the demographic we're targeting accelerates life to the fullest," said Mark Higgins, senior vice president of sales and marketing for Trumark Homes. "Velocity appeals to hard chargers and career-driven buyers who use home as a place to reward, renew and reacquaint. Momentum attracts families or people who need extra space for entertaining, hobbies or pets."
Conveniently located at the northeast corner of Montague Expressway and Trade Zone Boulevard, the community is a 10-minute walk from the future Milpitas BART station and connected to a citywide trail system. It is near major Silicon Valley employment centers and located within the Milpitas Unified School District, which has consistently high API scores.
In Northern California, the Trumark name is most often associated with community design, entitlements and office, R&D and retail development, which the company has focused on since its inception in 1988. Trumark Homes, the company's single-family homebuilding division launched five years ago, has completed two communities in Southern California and has four under way in the Bay Area.
About The Trumark Group of Companies
The Trumark Group of Companies is a diversified real estate developer and builder with expertise in land acquisition, homebuilding, community design, entitlements and office, R&D and retail development. Trumark has raised more than $340 million of equity and funded 24 deals since the depth of the recession in 2009. www.trumark-co.com/companies
Trumark Homes is a new generation homebuilder that is nimble, focused and unburdened by broken projects of the past. Its pipeline exceeds 3,800 lots in core in-fill areas of California, representing more than $2.3 billion in future revenue. www.trumarkhomes.com
Trumark Urban develops condos in core urban neighborhoods close to jobs, transit and local businesses. Since making the strategic decision to focus on San Francisco in 2011, the new division has acquired seven sites in San Francisco for high-density condominium communities with plans in the works for more than 600 units with total projected revenue in excess of $700 million. www.trumarkurban.com
Trumark Commercial, which builds, leases and sells commercial buildings, has entitled or developed approximately two million square feet of office, R&D, retail and hotel properties in the northern portion of the Golden State.
About The Resmark Companies
Founded in 1995, Resmark is a leading national private equity firm focused on real estate and powered by core foundational discipline and focus. A fully integrated real estate investment group, The Resmark Companies' divisions -- Resmark Land and Housing, Resmark Apartment Living and Resmark Shopping Centers -- finance, acquire, develop and manage real estate in the Western United States, including California, Washington and Arizona, as well as in other select major metropolitan markets nationwide. To date, Resmark has participated in 148 projects encompassing more than 23,600 single-family and multifamily residential units. Headquartered in Los Angeles, Resmark also maintains corporate offices in San Diego and La Jolla. For additional information, please visit www.Resmark.com.