DAVIS, CA – The Michaels Organization, working with Artemis Real Estate Partners, announced that the company has reached a financial close and will break the ground for 3820 Chiles, a new multi-family community of 225 units at market price being built along Chiles Road in to be Davis, California.
“We are very excited about this development opportunity, which will provide urgently needed new apartment buildings in a market with limited supply. We look forward to bringing Davis a Class A product that has not been developed in decades, ”said John O & # 39; Donnell, chief executive officer of The Michaels Organization, a national leader in residential real estate.
3820 Chiles Road sits on 7.2 acres in close proximity to shopping and other community facilities and will include three main residential buildings: two buildings with an elevator and a three-story walk-in building, all based on a concept of courtyards led through a Connected to the pedestrian zone, sidewalk are highlighted with colorful trees and native grasses.
The communal facilities include a large swimming pool and a spa with covered shade and outside terraces with barbecue areas, as well as plenty of bicycle storage and both covered and covered parking spaces. Inside, the sustainable, energy-efficient apartments will have a floor plan mix from studios to three bedrooms. Units will feature luxurious finishes including LVT floors throughout, quartz countertops, full-height back panels, walk-in closets and a high-end package of equipment.
Other members of the $ 82 million development team include Brown Construction, the general contractor of Sacramento, architecture firm ADC, and civil engineering firm and landscape architect Cunningham. Michael's management will act as property manager.
The Michaels Organization, which operates in 35 states, D.C. and the Caribbean, has served the California market for more than 10 years, and owns and manages nearly 100 parishes across the state. For the past five years, Michael has been a partner at UC Davis and has developed two student residential communities, The Green at West Village and Orchard Park Apartments.
Construction work on 3820 Chiles Road is expected to be completed in the first quarter of 2023.
Source: The Michaels Organization
