Bay Area Real Estate News, Insights, Market Data, and Strategies | Spencer Hsu Real Estate3 Joulu 2020

City of Fremont | New Bay Area Development Projects #5

With this series, we will be looking over what developments are happening in every city across the Bay Area. Many of you that are local here see projects and construction happening but did you know that most cities have plans to redevelop areas over the next decade? Let’s dive into Santa Clara! Santa Clara has some of the most ambitious plans for all of the Bay Area.

Over its 50+ year history, Fremont has evolved from an agricultural township to the metropolitan city it is today. When the City incorporated in 1956, its boundaries included five established small towns: Centerville, Irvington, Mission San Jose, Niles and Warm Springs, made up of thousands of acres of farmland, open hills, salt ponds, and marshes. The five original towns have grown and been joined together by new neighborhoods and business districts.

Fremont is now the second largest city in Alameda County and the fourth largest city in the San Francisco Bay Area. The city covers approximately 57,000 acres, which includes 7,400 acres of water and salt ponds located in San Francisco Bay and 49,600 acres of land. About 45 percent of the land area is permanent open space, including hillside and wetland preserves, grazing land, cemeteries, regional parks and trails, and city parks. About 26 percent is dedicated to streets, railroads, freeways, public facilities, and public rights of way. The remaining 29 percent consists of land designated for residential, commercial, and industrial uses, with residential uses representing a majority of the acreage.

So where is development happening? There are 4 main areas. There is the Centerville, Central Fremont, Irvington, and Warm Springs sections that are the focus. 3 of these sections are around the BART stations and future Irvington BART station

One of the longest development projects in the pipeline is the new Irvington Bart Station. It will be located in the Irvington District at the intersection of Washington Boulevard and Osgood Road, approximately halfway between the existing Fremont BART Station and the Warm Springs/South Fremont BART Station. This development was first approved by the BART Board in 1992, but due to insufficient funding, development was delayed until county voters passed a measure to specifically include funding for it in 2014. The anticipated construction is estimated to begin in 2022 and projected to be open in 2026. If we have seen the previous time schedules, don’t be surprised with further delays!

Let’s take a look at the housing side. Warm Springs is where most of the developments are happening right now. One of the areas is the Warm Springs Village Master plan which is built mostly by Toll Brothers. This area will house up to 1,000 residential units. Homes are currently available and are priced between $750,000 for a 1 BR all the way up to $1.55M for a 3BR.

The other area is for Lennar homes. They currently have homes available for move in and will be building at least for several years since they plan to build 2,200 units. They currently are releasing phase 1 which already has hundreds of people moved in. Check out my video here as the current area is called Innovation. Prices range from $842,000 to $1.2M and are all townhome styles.

I hope this was helpful to see what is coming down the pipeline in amazing Fremont. Leave a comment with what you think and if there are any cities I should cover next!

If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!

📧Spencer@spencerhsu.com

📞 (408) 547-4590

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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!

Spencer Hsu, MBA, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate

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