#United States #San Jose #Rockpoint #Holland Partner Group #Stevens Creek

Rockpoint and Holland Partner Group Develop Stevens Creek Community

Rockpoint, a private equity firm from Boston, and Holland Partner Group, an integrated real estate investment company, have recently announced a joint venture that will lead to the development of a multifamily community named Stevens Creek. This project is set to rise at 3896 Stevens Creek Boulevard in west San Jose, California, and aims to increase the availability of rental housing in the busy Silicon Valley area.

The undertaking, which is scheduled for completion in 2029, encompasses the acquisition of the development site along with the construction of 311 apartments. The vision behind Stevens Creek is not just to provide housing but to create a modern mixed-use community that will incorporate approximately 6,000 square feet of retail space on the ground floor. This prime location is situated just a short distance away from major employment hubs, including the headquarters of tech giants like Apple and NVIDIA, and offers convenient access to major highways such as I-280 and US-101. Residents will also savor proximity to a variety of popular retail, dining, and entertainment options, enhancing their quality of life.

Aric Shalev, Co-CEO at Rockpoint, expressed optimism about the initiative, stating, “Silicon Valley remains one of the nation’s most dynamic innovation economies and continues to exhibit strong long-term rental housing demand driven by high-income employment, limited new housing supply, and high barriers to home ownership.” He further added that this project is timely and well-positioned to meet the ongoing demand for modern rental homes while contributing positively to the development of the Stevens Creek corridor.

John Wayland, Executive Managing Director for Holland Partner Group, also shared enthusiasm about this collaborative effort. He stated that Northern California has demonstrated resilience as a rental market and highlighted the importance of well-located, thoughtfully designed projects like Stevens Creek. He pointed out that this latest announcement reflects the firm’s disciplined effort over the years to develop a beneficial partnership that can bring this vision to fruition.

The Stevens Creek development promises to offer state-of-the-art amenities, which will include a resort-style pool, landscaped courtyard, resident lounge, a cutting-edge fitness center, and a co-working lounge. Additionally, each apartment unit is designed with modern interiors, featuring stainless steel appliances, solid-surface countertops, in-unit washer/dryers, and luxury vinyl tile flooring to provide residents with a sophisticated living experience.

Holland Partner Group has a commendable track record in the Bay Area, having engaged in the development and acquisition of numerous multifamily communities across cities like Oakland, San Jose, and the greater Northern California region. The Stevens Creek project is a valuable addition to their growing pipeline, demonstrating their commitment to delivering premium rental housing in one of the most competitive markets in the country.

Since its establishment, Rockpoint has been actively involved in the residential sector, with a remarkable history that includes 147 residential investments resulting in approximately 100,000 multifamily units. Their strategy focuses on exploiting opportunities in markets with high entry barriers, ensuring that they manage assets proactively to maximize value.

About Rockpoint
Rockpoint is a real estate private equity firm that adopts a fundamental value approach for its investments. With a focus on select property types and markets throughout the United States, the firm consists of a consistent investment strategy aiming at identifying undervalued opportunities that can yield significant returns.

About Holland Partner Group
Founded in 2000, Holland Partner Group specializes in high-quality development across the Western United States. With a strong focus on sustainability and community connection, the firm has a dedicated team that oversees all phases of its development projects, ensuring they meet the needs of modern living while enhancing the social fabric of the communities they serve.

This partnership between Rockpoint and Holland Partner Group not only signifies a major step forward in addressing housing shortages but also reflects a broader commitment to thoughtful urban development in Silicon Valley.