By: Kevin McCallum, The Press Democrat ROEM Development Corp. of Santa Clara, one of five firms to express interest in the mixed-use housing project, is now the sole finalist left in negotiations with SMART. For more than a decade, the leaders of Sonoma County’s largest city have dreamed of transforming a cluster of vacant properties along the railroad tracks in downtown Santa Rosa into a vital new village filled with people opting for lower-impact urban living. Time after time, proposals to develop the western side of Railroad Square have fallen apart, victims of political infighting, neighborhood opposition and economic slumps. But the impending arrival of a $428 million regional rail system is breathing new life into efforts to create high-density housing around the Sonoma-Marin Area Rail Transit platform in Railroad Square. Read the full article.

  Charlotte Park Apartments’ 200 Affordable Multi-Family Residential Units Are Fully Leased and Near Completion SAN JOSE, Calif. ―  With the near completion of 200 new, affordable housing homes, the $46 million Charlotte Park Apartments in San Jose, Calif., is a great example of ROEM’s expertise in building a high quality affordable residential rental community located within a market-rate development. In this case, ROEM Corp. satisfied most of the affordable housing requirement of the Hitachi master-planned community, with ROEM Builders, Inc., acting as both general contractor and construction manager. “While inclusionary housing policies provide a major source of funding for affordable housing, they can significantly reduce a developer’s return and create long-term obligations,” said Alex Sanchez, Executive Vice President of ROEM Corporation. “Our market-rate developer partners recognize the benefits of having ROEM act as their third-party general contractor. We assume their affordable housing obligations and pay the in-lieu fees while designing and building high-quality affordable housing that seamlessly blends with their market-rate housing. About 430 of our more than 3,000 new affordable housing units completed since 2000 were built by ROEM for a market-rate developer.” Located on the former Hitachi Global Storage Technologies campus, Charlotte Park is part of a 295-acre master-planned community that will include condominiums, apartments, attached townhomes, many pocket parks, and a large 10-acre park with a baseball field. Charlotte Park is situated near the intersection of Cottle Road and Highway 85, and within walking distance from the Blossom Hill Caltrain station and the Cottle and Santa…

Metro Village, a mixed-use, $28 million multifamily, transit-oriented development is providing 70 new affordable apartments in downtown Baldwin Park.

Featured Image of Rendering of South Hills Crossing Affordable Apartments Exterior

ROEM’s South Hills Crossing will welcome 43 families in San Luis Obispo, CA when its new sustainable, affordable apartments opens this year. Only a mile and a half from restaurants, shops and entertainment in the village of San Luis Obispo, South Hills Crossing brings permanent affordable housing to this beautiful California Central Coast community.

Feature Image of Montecito Vista Apartments

Low-income Families and Veterans in San Jose Find a New Home at Montecito Vista As one of the Bay Area’s largest providers of affordable housing to veterans, ROEM supports the Santa Clara County campaign to end veteran homelessness by 2017. Fully leased several months before its completion, Montecito Vista Apartments has welcomed nine veteran residents thanks to the federal Veterans Affairs Supportive Housing (VASH) program assistance they receive through the Housing Authority of the County of Santa Clara as well as on-site resident services. Located about three miles south of downtown San Jose, the Montecito Vista Apartments development is part of the 29.5-acre master-planned Montecito Vista Urban Village that, when completed, will include condominiums, apartments, attached townhomes, a two-acre public park, and 18,000 square feet of retail space. The 106 new one- and two-bedroom units are permanently affordable for families and veterans earning at or below 60% of the Santa Clara County area median income. ROEM and its partners are committed to providing all residents with high-quality, amenity-rich affordable housing. The four-story apartment building and surrounding grounds has two courtyards, outdoor barbecue and dining area, storage area, leasing office, homework center with computers and laundry facilities. Unit amenities include central heating and air, energy-efficient appliances and private balconies or patios. In addition, residents have access to a wide range of on-site educational, lifestyle, recreational, health and wellness services. Montecito Vista resident, Michael Causey, moved into his brand new one-bedroom apartment last April after living almost two years in the Homeless…

Delta View Apartments, an 11-acre property of affordable housing in Antioch, California, has been acquired by ROEM Corporation. This community features 205 affordable apartment units in 32 buildings.

Feature Image of Mio Japantown Exterior

ROEM Development Corporation and BlackRock Inc. Sell 103-unit Mio Japantown Apartments to Essex Property Trust for Approximately $500,000 Per Unit SAN JOSÉ, Calif. – ROEM Development Corporation today announces the sale of its new luxury 103-unit Mio Japantown market-rate apartment property to San Mateo, Calif.-based Essex Property Trust for approximately $500,000 per unit. The deal, which closed January 6, 2016, was brokered by the Jones-Saglimbeni Group at Institutional Property Advisors on behalf of ROEM and its investment partner, BlackRock, Inc. Mio Japantown is located at 688 North Seventh Street in downtown San José, a block away from more than 20 trendy restaurants, a weekly farmers market and the Raymond Bernal Jr. Memorial Park. The property sale is indicative of the trend in Santa Clara County that is pushing per-unit prices over $500,000. “There is lack of Class A property available for sale throughout the Bay Area but job growth remains strong, which is attractive to investors,” says Robert Emami, CEO & president of ROEM Corporation. “This is a great time to sell with record-setting cap rates and per-unit pricing.” As design-build developer and contractor, once ROEM completed Mio Japantown and leased the property up to stabilization it then capitalized on market conditions; ROEM is actively constructing another 1,000 units and has 900 units in the development pipeline. “There’s a dire need for more sustainable rental housing throughout Silicon Valley, and residents are looking to live close to jobs and public transportation,” says Alex Sanchez, executive vice president, ROEM Development Corp. “The…

New mixed-use studio apartment community offers sustainable workforce housing for residents in the city of Mountain View MOUNTAIN VIEW, CALIF. – While Silicon Valley may be booming with new high-tech start-ups and the coveted jobs associated with them, many in the workforce still lack access to affordable housing that they can call home. Partnering with the City of Mountain View, ROEM Corporation and Eden Housing, took the challenge of converting an older community lacking modern amenities into a community that rivals market-rate housing in design and amenities while achieving the highest USGBC LEED rating, LEED-H Platinum Certification. Working with the project’s designer, national award-winning firm KTGY Architecture + Planning, achieving LEED certification was a top priority for ROEM Corporation from the start of the project. By identifying and integrating multiple durability strategies into the project’s design, it was possible to ensure that the goal of creating a sustainable building would be achieved. With this vision set in the initial phase, Studio 819 surpassed Title-24 standards by 32% with features that optimized energy performance through insulation, windows, water heating, mechanical, lighting, and appliances. Awarded the highest amount of points for location and linkages, Studio 819 is ideally situated in downtown Mountain View, Calif. “This central location affords residents short walking distance to many local amenities, such as public transportation, shopping, and other valuable neighborhood resources,” said Robert Emami, CEO and President of ROEM Corporation. “Studio 819 embodies ROEM’s long standing commitment to sustainability in a way that benefits the residents and…

ROEM Corporation is committed to water conservation at its various projects throughout California. ROEM recognizes the impact that a sizable portfolio comprised of multifamily housing can have on the environment. As such, ROEM was honored to be recognized as a Santa Clara Valley Water District Water Saving Hero.

ROEM envisions an inclusive community at the former BAREC site which provides the greatest public benefit and ensures affordable housing is built within state-imposed timeframes.

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