Warmington Residential | Southern California
Construction begins on 63 units at The Glen in LA
Warmington has closed escrow on a 2.63-acre property in Valley Glen near the Tujunga Wash Greenway. The site is entitled for 63 "eco-conscious" small lot ordinance units in the city of LA. Each unit will feature 3-4 bedrooms and 3.5 bathrooms, with floor plans of up to 2,100 square feet. Homes will include customizable finishes and attached two-car garages. Per plan, they will feature first floor patios, balconies, and private rooftop decks. Community amenities will include gathering and tot lot spaces.
Model trenching will begin soon and a grand opening is slated for Summer 2017.
Warmington's design team includes frequent collaborators KTGY Architects and Matters of Space. The Glen is being marketed by the Tracy Do Real Estate Team at Compass.
The Glen LA joins the E.R.B. in the Eagle Rock area of Los Angeles and reflects Warmington’s commitment to strengthening its growing presence in the LA submarket.
Warmington Residential | Northern California
3 Land Transactions Worth $40M+ Completed in Northern California
In the second half of 2016, Warmington’s Northern California division completed three land transactions that resulted in the sale of 146 lots. Each of these three deals required a significant entitlement effort over the past two to three years, prior to receiving final city approval, clearing the way for their sale. This included rezoning, obtaining site specific permits, tenant relocation, demolition of existing structures and heritage tree removal. Dispositions have become a larger portion of Warmington’s overall business model and the completion of these three intricate deals represent the breadth of our team’s expertise in the successful management of this process.
277 Tyrella Avenue in the City of Mountain View
37-unit condominium project located on 2 acres
Zoning: Planned Unit Development
Gross density: 18.5 units per acre
Sold to Taylor Morrison Homes
Purchase price: $20,300,000
Closing date: July 2016
Entitlement Deal: Planned Community Permit, Vesting Tentative Map, Design Review approval, Heritage Tree Removal Permit, Tenant Relocation assistance and Mitigated Negative Declaration
25915 Dollar Street in the City of Hayward
42-unit townhome project located on 2.31 acres
Gross density: 18.2 units per acre
Zoning: Urban General Zone
Sold to KB Home
Purchase price: $5,460,000
Closing date: September 2016
Entitlement Deal: Vesting Tentative Map, Site Plan Review, Warrants for parking and roof pitch, Text Amendment to the Specific Plan and a Mitigated Negative Declaration.
40744 Fremont Blvd. in the City of Fremont
67-unit condominium project located on 3.73 acres
Gross density: 18.0 units per acre
Zoning: Planned Unit Development
Sold to Pulte Home Corporation
Purchase price: $16,600,000
Closing date: September 2016
Entitlement Deal: General Plan Amendment to change the land use designation of a 3.73-acre site from Commercial – General to Medium-Density Residential (14.6 to 29.9 units per net acre), a Rezoning from TC-T(I) Town Center Transitional District (Irvington) to R-3-18 Multifamily Residence District, Vesting Tentative Tract Map No. 8261, Preliminary Grading Plan, Private Street, Discretionary Design Review Permit, and Conditional Use Permit to allow the demolition of all existing structures and a Mitigated Negative Declaration.
Warmington Properties, Inc.
5 Commercial Properties Representing More than $50M Sold in 2016
In 2016, WPI completed the sale of five commercial investment properties totaling $50,750,000. These transactions were completed as part of Warmington’s effort to strategically realign its commercial property portfolio.
This 12,966-square-foot flex building on Bunsen in the Irvine Spectrum was sold for $3.76 million. This building previously served as the headquarters and main showroom for Chateau Interiors & Design and Studio Chateau before they moved to a newer space, also in Irvine Spectrum.
A retail center totaling 41,848 sq. ft. with major tenants being Walgreens, Wells Fargo and Starbucks. The property was sold in an off market transaction for $17 million to a local investor.
Sold WPI’s interest to the majority investor. The property was valued at $16.275 million.
This is a 44,000 sq. ft. LA Fitness location that received ten strong offers. Ultimately, it was sold to an investor that owns other properties in the area for $9.85 million.
A 71,900 sq. ft. multi-tenant industrial project located in the Scottsdale Airpark area was sold for $7.85 million.
Warmington Residential | Nevada
Warmington Helps Re-Roof St. Jude’s Ranch for Children
Through its association with HomeAid Southern Nevada, Warmington had the opportunity to give back to the local community. Team members in the Nevada division were part of a group of building industry professionals that participated in the re-roofing and other renovations of three cottages at St. Jude’s Ranch for Children in Boulder City, Nevada. Scott Reddie, Warmington’s VP of Operations in Nevada, served as a Builder Captain of this group that donated money, people hours, and resources to replace the roofs and repair drywall and paint.
St. Jude’s Ranch provides a safe, nurturing home with therapeutic residential treatment services to thousands of abused, abandoned and neglected children of all races and faiths. The roofing issues were creating a health hazard for the resident children when this group, organized by HomeAid Southern Nevada, stepped in and completed the repairs, which also included new rain gutters where necessary to protect the roofs and buildings from future damage.
A representative from St. Jude’s Ranch said that the new roofs will guarantee a safe and dry living environment for the children for years to come.
Besides Warmington Residential and HomeAid Southern Nevada, other team companies included Cooper Roofing and Solar, Boral Roofing, and Vision Paint and Drywall.
HomeAid Southern Nevada's mission includes building new lives for Southern Nevada’s homeless through housing and community outreach. It regularly sponsors care days, education & awareness programs in the community, and shelter projects. The HomeAid Southern Nevada chapter is sponsored by the Southern Nevada Home Builders Association.