Marinwood Village Moves Forward with BRIDGE Housing
MARIN COUNTY, CA, Feb. 7, 2012---BRIDGE Housing Corporation and the owners of the Marinwood Plaza are pleased to announce they have entered into a purchase and sale agreement that will allow BRIDGE to acquire approximately 3.5 acres of the five-acre site in unincorporated Marin County. BRIDGE is one of the state’s largest nonprofit developers and owners of affordable housing.
The Marinwood Plaza site was the focus of an extensive community planning effort led by the County of Marin. In 2006, the County Board of Supervisors adopted the Marinwood Village Conceptual Master Plan, which called for the redevelopment of the site as a mixed-use, pedestrian-oriented village center with 90-100 affordable residences. The recent opening of the Marinwood Market fulfills one of the plan’s aims, which was to have a full-service grocery in this location.
Following acquisition, BRIDGE anticipates that it will take approximately one year to complete the master plan entitlement and environmental review processes and assemble a plan of finance.
Supervisor Susan Adams, who was involved with the neighborhood leadership during the conceptual planning process stated, “I was pleased to learn about the sale. I look forward to re-engaging with the community leadership and BRIDGE in realizing the Marinwood Village conceptual vision of a beautiful mixed use housing/retail, transit oriented, walkable/bikeable community serving project. I believe BRIDGE can be instrumental in bringing a new vibrancy into the neighborhood for our working families.”
“We are proud to be partnering with the Marinwood community and the County to bring this vision to life,” said Cynthia A. Parker, BRIDGE Housing President and CEO. BRIDGE’s Marin County portfolio includes apartments in Mill Valley, San Rafael, Marin City and Lucas Valley.
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