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San Francisco Business Times

April 11, 2012

TRI Pointe Homes buys first Bay Meadows parcel

By J.K. Dineen

The long-awaited redevelopment of the old Bay Meadows racetrack in San Mateo will get started this summer with the 63-unit complex to be built by TRI Pointe Homes.

Bay Meadows master developers Stockbridge and Wilson Meany Sullivan Wilson Meany SullivanLatest from The Business JournalsShea buys into San Mateo’s Bay MeadowsTishman set to start SoMa constructionTishman Speyer to start Foundry Square III in S.F.’s South of MarketFollow this company have sold the parcel to TRI Pointe Homes for an undisclosed price. Stockbridge and WMS are reportedly close to selling at least one other parcel.

TRI Pointe homes plans to begin construction as early as summer 2012 with model home openings and sales launching in early 2013

TPH will build Amelia, a 63-home neighborhood of two- and three-bedroom townhomes featuring porches and balconies in an updated expression of traditional Bay Area architecture, designed by KTGY Architecture + Planning.

In total Bay Meadows, which sits at a Caltrain stop, will consist of 14 neighborhoods with 1,171 residential units, up to 1.5 million rentable square feet of office space and approximately 90,000 square feet of retail space. The Bay Meadows redevelopment will also include a 12-acre park, a community garden, traditional town square, main street retail.

“TRI Pointe Homes was selected as the first builder because of their reputation for building quality homes, and we are confident that they will set the bar extremely high for the next builders to come,” said Christopher Meany, partner at WMS. “TRI Pointe Homes holds the distinction of being the first builder to embrace the vision of Bay Meadows, and they are committing their company resources to bringing this community to life. They will create the standard for the level of excellence that Bay Meadows demands”

Read the original story here.