A34 is an example of The Pinyon Group’s focus on the socially- and environmentally-responsible development of transit-oriented workforce and affordable housing.
The five-acre property is a former industrial complex that is being transformed to provide 468 apartments—including 66 deed restricted “very-low income” units and 192 moderate income units. The development provides over 1.5 acres of public open space, 2.6 acres of total open space, ground floor retail space, and a public paseo.
The campus has been designed to preserve view corridors and improve walkability, and includes over 200 newly-planted trees. Currently completing construction, the new community is walking distance to two Metro light rail stations.
The Pinyon Group is the developer and joint-venture partner (with The Max Collaborative), and successfully led acquisition, financing, and predevelopment activities which consisted of multiple entitlement and CEQA approvals, as well as a comprehensive voluntary cleanup of environmental contamination caused by prior industrial uses at the site–overseen by several local, regional, and State agencies, including the California State Department of Toxic Substances Control.
Construction commenced in 2022, and completion is anticipated in 2025. The Pinyon Group’s affiliate, TPG CMS LLC, is serving as the Construction Manager / Owner’s Representative. The project has been utilizing a prefabricated panelized framing process which greatly speeds the vertical construction.
The development was financed with tax credits, tax-exempt and taxable bonds, and private equity.
