BREAKING: AvalonBay Communities has just announced a significant investment in San Ramon, California, acquiring a prime site at Bishop Ranch for $30.5 million. This urgent development aims to construct 456 new apartments, marking a critical step in addressing the Bay Area’s ongoing housing crisis.
The deal, finalized through an all-cash purchase, involves a 5.7-acre plot located at the bustling intersection of Bollinger Canyon Road and Camino Ramon. This strategic move is part of a larger vision to transform Bishop Ranch into a vibrant urban core, combining residential, commercial, and recreational spaces.
The construction of Avalon San Ramon is set to begin by the end of this year, with plans for two buildings—one rising seven stories and the other five stories. A breezeway will connect these buildings, enhancing the sense of community within this emerging neighborhood. Residents are expected to start moving in by 2027, according to AvalonBay’s estimates.
“We’re thrilled to close on this site and continue AvalonBay’s long-term commitment to the Bay Area,” said Joe Kirchofer, senior vice president of development for AvalonBay. “At Bishop Ranch, Sunset Development has created the kind of vibrant, walkable, mixed-use community that our residents love.”
This initiative is part of a broader plan by Sunset Development to develop 8,000 homes in the area, ultimately accommodating between 25,000 to 30,000 residents. This vision aims to create a dynamic environment where individuals can live, work, play, and shop—all within a single community.
Alex Mehran Jr., president of Sunset Development, emphasized the importance of this project: “We are trying to build a series of neighborhoods here at Bishop Ranch.” This approach is designed to foster a lively hub that includes not only housing but also offices, shops, restaurants, and open spaces, making it a sought-after destination in the Bay Area.
The history of Bishop Ranch dates back to 1978 when it was established as a business park. It has hosted major corporations such as AT&T, Chevron, and Ford Motor Co. Recently, the area has evolved, introducing the City Center Bishop Ranch, which features retail, dining, and entertainment options.
AvalonBay is recognized as one of the nation’s largest apartment property owners, and their investment in San Ramon underscores a commitment to enhancing the region’s housing options. The new residential community will feature amenities such as a fitness center, pool, work lounge, clubhouse, rooftop deck, and a WAG Pet Spa, designed to cater to modern living needs.
As the Bay Area grapples with a housing shortage, this development represents a critical investment in the future of San Ramon, aiming to meet the urgent demand for housing in a thriving urban landscape.
Stay tuned as we continue to follow the development of Avalon San Ramon and its impact on the community.
