Sellout of first new home development in Newark in more than a decade underscores the unprecedented demand in the market as Trumark prepares to bring more housing to the area
NEWARK, CALIF. (November 7, 2016) – Trumark Homes announced today the complete sellout of their award-winning Timber community featuring 164 single-family homes and townhomes within two neighborhoods Shade at Timber and Canopy at Timber in Newark, CA. Trumark Homes continues to expand their portfolio in Northern California to meet the growing demand for new housing supply within the thriving Tri-City area located just 40 minutes outside San Francisco.
“Our Timber community sold out well ahead of our anticipated timeframe representing the incredible amount of pent-up demand in Newark. Along the way, we’ve been encouraged by the positive reception we received from the community and the City of Newark,” said Mark Higgins, Senior Vice President of Sales and Marketing at Trumark Homes. “The diverse product offerings at Timber drew a mix of home buyers ranging from Silicon Valley professionals to first-time homebuyers and everyone in between.”
Designed by international award-winning firm KTGY Architecture + Planning, the Timber community embodies a fresh Craftsman architectural style and standout features including bright color pallets and lush landscaping. Shade at Timber presents three-story single-family floor plans ranging in size from 2,115 to 2,405 square feet with four bedrooms, three-and-a-half bathrooms, as well as a two car attached garage. Canopy at Timber provides single-family attached townhouses ranging in size from 1,540 to 2,026 square feet with three or four bedrooms and either three or three-and-a-half bathrooms, depending on the plan, and a two car attached garage. Several of the plans within each neighborhood also offer a second floor deck.
“Timber represented a tremendous opportunity for us to bring much-needed housing to this emerging market in Alameda County,” said Gregg Nelson, Cofounder and Managing Member at Trumark Companies. “We are preparing to break ground on Glass Bay, our latest development in Newark, which will introduce 217 contemporary single-family homes. These two new communities will bring a distinct synergy between the commercial, residential and transit oriented components of Newark, creating desirable walking landscapes that homeowners are valuing more so today than ever before.”
Trumark teamed up with long-term equity partner The Resmark Companies to develop Timber, as well as three other new home communities in Los Angeles, San Jose and Milpitas, which have all sold out.
“Timber’s success demonstrates Trumark’s continuous insight into its target markets and ability to meet the desires and needs of homebuyers seeking quality homes. Resmark is proud of our longstanding partnership with Trumark, the communities that our investments create for California homeowners, and the results that they generate for our investors,” said Robert N. Goodman, CEO and Chairman of Resmark.
Trumark was honored with three 2016 Building Industry Association Bay Area Excellence in Home Building Awards for the Timber community, including “Community of the Year – Multi-Product”, “Best Signage” for creative, design and overall brand and “Best Architectural Design – Attached” for the architectural design innovation, overall exterior and interior architecture and design appeal of Canopy Plan 3. Trumark also received a gold award for “Best Brochure for a Community” at the National Association of Home Builders’ 2016 “The Nationals” awards.
Located at the intersection of Cedar Boulevard and Robertson Avenue in Newark, Timber provides convenient access to public transportation, schools, such as the University of Phoenix, Decry, ITT Tech, and Ohlone College, parks, sports facilities and shopping.
About Trumark Homes
Trumark Homes is a visionary, next generation homebuilder with a robust portfolio of new home neighborhoods spanning the state of California. Emphasizing distinction and innovation in every home, Trumark Homes focuses on core infill developments in locations that exhibit strong job growth and provide access to major job centers. The nationally award-winning homebuilder is part of the Trumark Group of Companies, a diversified real estate development and building firm that also includes: Trumark Communities, a residential land development platform; Trumark Commercial, which builds, leases and sells commercial buildings; and Trumark Urban, a vertically integrated residential developer focused on core urban neighborhoods. For more information, visit www.TrumarkHomes.com
About The Resmark Companies
Founded in 1995, Resmark is a fully integrated real estate investment group. The Resmark Companies’ divisions—Resmark Land and Housing, Resmark Apartment Living and Resmark Impact Ventures—finance, acquire, develop and manage real estate in California, the Western United States, D.C./Mid-Atlantic region, and other select major metropolitan markets nationwide. To date Resmark has participated in more than 200 investments encompassing approximately 30,000 single-family and multifamily residential units, and has committed approximately $3 billion of capital. Headquartered in Los Angeles, Resmark also maintains offices in San Diego and Irvine, California and McLean, Virginia. For additional information, please visit www.Resmark.com