{"id":266170,"date":"2026-04-13T21:24:23","date_gmt":"2026-04-13T21:24:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/266170\/"},"modified":"2026-04-13T21:24:23","modified_gmt":"2026-04-13T21:24:23","slug":"signature-gets-sign-off-to-build-422-townhomes-in-east-bay","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/266170\/","title":{"rendered":"Signature Gets Sign-Off to Build 422 Townhomes in East Bay"},"content":{"rendered":"

The Mitchell\u202fTownhomes redevelopment in Walnut\u202fCreek from Signature\u202fDevelopment, has cleared two appeals, with the developer now hunting for financing.<\/p>\n

Signature will tear down the 450,000\u2011square\u2011foot Walnut\u202fCreek\u202fExecutive\u202fPark and replace it with 422\u202fhomes, including 55\u202faffordable units.<\/p>\n

The site\u2019s owner, California\u202fCapital\u202fand\u202fInvestment\u202fGroup, bought the property in\u202f2022\u202ffor nearly\u202f$50\u202fmillion from Rialto\u202fCapital and Koll\u202fCompany; Signature has an option to acquire it.<\/p>\n

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Despite two appeals, the Mitchell\u202fTownhomes project in Walnut\u202fCreek has prevailed at City Hall and now moves to the funding stage.<\/p>\n

The project from Oakland-based Signature Development involves demolition of the 450,000-square-foot Walnut Creek Executive Park and its replacement with 422 homes at Mitchell Drive and Shadelands Drive, the San Francisco Business Times reported<\/a>.\u00a0<\/p>\n

The City Council voted to uphold approvals under SB\u202f330 and the builder\u2019s\u202fremedy, which allows housing projects with affordable components to bypass local zoning restrictions in cases where local authorities fail to meet state-imposed planning requirements.<\/p>\n

Signature\u202ffiled its preliminary application in\u202f2023, just days before Walnut\u202fCreek\u2019s Housing Element plan was certified by the state, thus securing eligibility for the builder\u2019s\u202fremedy<\/a>. Senior\u202fVice\u202fPresident Jonathan\u202fFearn said demolition could begin early next year, with the search for financing now underway through debt and equity partners.\u00a0<\/p>\n

Friends of Walnut Creek and a group of residents at nearby Viamonte Senior Living community filed the appeals opposing the project\u2019s approval.<\/p>\n

The site\u2019s owner, California\u202fCapital\u202fand\u202fInvestment\u202fGroup, purchased the property in\u202f2022\u202ffor nearly\u202f$50\u202fmillion from a joint venture between Rialto\u202fCapital and Koll\u202fCompany. Signature has an option to acquire the land.<\/p>\n

Plans for the 27\u2011acre property reflect a growing preference for townhomes \u2014 a more financially feasible and attainable ownership model than single-family homes \u2014 offering \u201cthe next step up for Bay\u202fArea families,\u201d Fearn said. The development includes 55 affordable units in compliance with builder\u2019s remedy<\/a>.<\/p>\n

This redevelopment aligns with an emerging East Bay trend of converting office parks to residences. Sunset\u202fDevelopment has demolished millions of square feet of offices at Bishop\u202fRanch<\/a> in San Ramon to build thousands of homes as part of a live\u2011work\u2011play master plan.\u00a0<\/p>\n

According to CBRE, roughly 15\u202fpercent of office space along the\u202fI\u2011680\u202fcorridor could be converted to housing or other uses by\u202f2030, with Walnut\u202fCreek, Pleasanton and San\u202fRamon leading the shift. In Walnut\u202fCreek\u2019s Shadelands\u202fdistrict, office inventory is projected to shrink by 35.8\u202fpercent, or 644,000\u202fsquare\u202ffeet, underscoring how projects like Mitchell\u202fTownhomes can redefine the suburban landscape for a post\u2011office\u2011era Bay\u202fArea.<\/p>\n

\u2013 Joel Russell<\/p>\n

\tRead more
\n\t\t\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\"Sunset\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tDevelopment\t\t\t\t\t\t\t\t<\/p>\n

\n\t\t\t\t\t\t\t\t\tSan Francisco\t\t\t\t\t\t\t\t<\/p>\n

Sunset clinches approval for new downtown San Ramon<\/p>\n

\t\t\t<\/a>
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Builders get their remedy, and some cities tweak their defenses<\/p>\n

\t\t\t<\/a>
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\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

California Assembly passes bill to cut confusion around builder\u2019s remedy<\/p>\n

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