Domestic Master Planned Communities

Terra Bay

South San Francisco, CA

Terra Bay is a mixed-use hillside master planned community consisting of 125 single family homes, 365 townhomes, 228 condominium units and a 20 acre commercial office parcel located along the south and east sides of San Bruno Mountain in the city of South San Francisco.

The project, originally planned and entitled in the late 1980’s, was purchased by SunChase as a distressed asset from Great American Federal Savings Association in 1992. SunChase renegotiated key aspects of the project’s entitlement obligations, and repositioned the project to take advantage of the exploding real estate market of the late 1990’s and 2000’s. SunChase performed backbone grading and installed the balance of backbone infrastructure, and then sold finished super parcels to Centex Homes.

SunChase solicited partners for the condominium and commercial office portions of the community and subsequently entered into a joint venture with Myers Development Company. The partnership developed and sold a 12 story condominium project, and sold the office parcel to Stockbridge Partners. The SunChase/Myers partnership retained an interest in the development of a two-towered 697,000 sq. ft. Class “A” office building complex called “Centennial Towers”.