#United States #affordable housing #Corte Madera #Graham Street #Hunt Plaza

Graham Street Realty Completes Sale of Hunt Plaza

On August 14, 2025, Graham Street Realty (GSR), a notable commercial real estate investment firm based in San Francisco and an affiliate of Hamilton Zanze, successfully closed the sale of Hunt Plaza, a 1.57-acre commercial property located in Corte Madera, California. This significant transaction marks a strategic shift towards enhancing community living by transitioning the property into an affordable multifamily housing complex boasting 99 homes.

GSR originally acquired Hunt Plaza in December 2021, envisioning an investment to modernize and stabilize the site through long-term market-rate leases with existing tenants. Andrew Mustin, GSR's Director of Asset Management, expressed this sentiment by stating, "At the time of purchase, we envisioned investing significant capital into Hunt Plaza to modernize the building and stabilize the rent roll through long-term, market-rate leases with both new and existing tenants." However, the company recognized an opportunity when a buyer emerged, keen on leveraging current housing element regulations. This prompted a strategic pivot, leading GSR to embrace the potential for new affordable housing developments at the site.

The transformation of Hunt Plaza is particularly crucial given its location just 10 miles north of the iconic Golden Gate Bridge. The site is conveniently situated near Highway 101, close to key transit connections including multiple bus services, ferry terminals, and the Sonoma Marin Area Rail Transit (SMART) system. This accessibility positions the new housing complex to serve a burgeoning community that requires affordable living options while being connected to the vibrant hubs of Marin County and San Francisco.

Under GSR's management, Paramount Property Co., based in Oakland, facilitated operations at Hunt Plaza during their stewardship of the property. The transition into an affordable housing community is not merely a transaction; it embodies GSR’s commitment to social responsibility and community welfare. By transforming commercial space into much-needed living accommodations, GSR aims to directly address housing shortages amidst growing demand in the region.

Graham Street Realty was founded in 2007 and has since established a robust portfolio, sponsoring over $485 million in investments focusing primarily on multi-tenant office and industrial buildings. GSR's strategic approach to real estate has continually prioritized value-added investments, reflecting its dedication to both economic growth and community improvement.

The decision to sell Hunt Plaza for the development of affordable housing exemplifies GSR's proactive stance toward evolving market needs and societal challenges. The anticipated outcome of this project is an enriched local community where families can thrive in affordable living environments. As developments continue to shape urban landscapes, Graham Street Realty remains at the forefront of impactful real estate strategies, making a meaningful difference in the communities they engage with.

For more information regarding Graham Street Realty and their ongoing projects, visit their website at www.grahamstreetrealty.com.