555YVR Now One-Third Sold

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555YVR in Walnut Creek, CA

555YVR is an attractive choice for suburban-urban living.

Walnut Creek, CA (Vocus) January 9, 2010

Downtown Walnut Creek’s newest condominium residences at 555YVR are now one-third sold, with the new availability of FHA loans for home buyers expected to accelerate sales further.

Located at the gateway to Downtown Walnut Creek just steps from the BART station at 555 Ygnacio Valley Road in Walnut Creek, Calif., 555YVR kicked off sales in summer 2009, with homes priced from the $300,000s to mid-$700,000s. Residents began moving in a few months ago

555YVR was the only new condo development in the I-680/I/24 corridors to open in 2009, with no new projects on the horizon for 2010. According to the developer, 555YVR has addressed pent-up demand from professionals looking for distinctive new homes close to transit and amidst a thriving destination neighborhood.

“Downtown Walnut Creek is a highly desirable neighborhood in which to live, work and play,” said Bruce Dorfman, principal of Thompson | Dorfman Partners, developer of 555YVR. “The future arrival of Neiman-Marcus is yet another signal of the area’s cachet, something not lost on our buyers, who are drawn as much to 555YVR’s style, floor plans and amenities as they are its vibrant suburban-urban setting.”

This month, 555YVR will begin to offer FHA loans, enabling buyers to apply a down payment as low as 3.5%, which is likely to accelerate home ownership and demand in a market with no other new condominiums under construction.

“555YVR is an attractive choice for suburban-urban living,” said Shoreh Mirhadi, 555YVR’s sales manager. “For our initial residents, that unique style was complimented by compelling financial opportunities to buy now, including interest rates under five percent, recently extended federal programs and tax incentives for first-time homebuyers, and now, FHA loans that will allow buyers to purchase homes with as little as a 3.5% down payment.”

555YVR’s buyers include high-level professionals such as local physicians, finance executives, Silicon Valley entrepreneurs and techies, and a good number of people attracted to the proximity of BART and easy commuting to San Francisco, Oakland and Fremont.

A stylish, four-story structure designed by internationally-known Bay Area architects from Kwan Henmi and KTGY Group, 555YVR includes 87 spacious one-bedroom, one-bedroom plus den and two bedroom homes, plus a handful of townhomes and live-work units, all featuring luxury finishes, stainless steel appliances and expansive floor-to-ceiling windows. Most homes have spacious private decks or patios. Punctuated by a peaceful, landscaped courtyard, 555YVR is capped by the Sky Lounge, a roof terrace with outdoor fireplace and stunning 360-degree views of the valley and Mt. Diablo. Other amenities include a private fitness center, media room, free Wi-Fi, a dedicated dog run, and generous parking in a 170-space subterranean garage.

According to Mirhadi, 555YVR “appeals to first-time homebuyers and empty nesters, especially young professionals seeking style, convenience and fun in an urban setting. There are all the shops and restaurants within blocks, and commuting to work is easy whether they jump on BART, or walk to Kaiser Permanente, John Muir Medical Center, or UBS…the possibilities are endless!”

“555YVR is helping establish a 24/7 rhythm to Downtown Walnut Creek,” added Mirhadi. “For people not interested in big home maintenance and yard work, there’s a real movement to simplify your way of living and take advantage of unique attractions only found downtown.”

At the gateway to Downtown Walnut Creek, 555YVR is steps away from trendy restaurants and nightclubs, world-class shops and a weekly Farmer’s Market; as well as popular attractions such as three major grocery stores, the public library, Civic Park and the Lesher Center for the Performing Arts. Also nearby are 90 stores at Broadway Plaza, including Macy’s, Nordstrom, Tiffany & Co., the Apple Store, and a Neiman-Marcus opening soon. For easy commuting, the BART station is only two blocks away, with I-680 and I-24 access just beyond.

About Thompson | Dorfman Partners
Thompson | Dorfman Partners, LLC is a real estate development and investment company. Formed in 1999 by Will Thompson and Bruce Dorfman, Thompson | Dorfman focuses on multi-family residential development, with particular emphasis on well-sited, urban infill and mixed-use properties located in high growth, technology-driven markets in California. The principals of Thompson | Dorfman have more than 25 years experience in the industry and Thompson | Dorfman have collectively developed 10,000 multi-family homes in 40 California apartment and condominium communities. They have also expanded their services to provide development advisory, management and investment expertise to institutional and corporate land owners to assist on underperforming assets. In 2004, Thompson | Dorfman formed Education Housing Partners, a non-profit corporation, in order to facilitate school districts and public agencies to build workforce housing for their employees. For more information, please visit http://www.thompsondorfman.com.

About 555YVR
555YVR is Downtown Walnut Creek’s new boutique condominium residences with initial occupancy underway. Developed by Thompson | Dorfman Partners and designed by noted Bay Area architects from Kwan Henmi and KTGY Group, 555YVR is a modern four-story structure featuring 87 one-bedroom, one-bedroom plus den and two-bedroom homes, as well as townhomes and live-work units. Residents share amenities such as a courtyard, private fitness center, state-of-the-art media room and Sky Lounge, a roof top terrace with outdoor kitchen and fireplace surrounded by spectacular 360-degree views of the valley and Mt. Diablo. 555YVR is conveniently located near downtown’s trendy restaurants and nightspots, world-class shopping and weekly Farmers’ Market, as well as civic and cultural attractions such as the public library, Civic Park, Century Theaters and Lesher Center for the Performing Arts. Residents have easy access to local transit and BART, as well as I-680 and I-24, connecting them to the rest of the Bay Area. 555YVR is marketed exclusively by Pacific Marketing Associates. The 555YVR Sales Center, open daily from 11 a.m. to 6 p.m., is located at 555 Ygnacio Valley Road in Downtown Walnut Creek, between Broadway and Main, just blocks from BART and I-680/I-24. For more information, call (925) 290-8888; or, visit online at http://www.555yvr.com

Contact:
Spencer Moore
Chase Communications
(415) 433-0100, mobile (415) 317-7100
smoore(at)chasepr(dot)com

(images, tours and interviews available by request)    

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