San Francisco Business Times – by J.K. Dineen
Boutique condo project 555YVR makes 30th sale
Thompson-Dorfman Partners 555YVR has logged its 30th sale in Walnut Creek. The project is attracting about half BART commuters — mostly workers from San Francisco, Oakland and Fremont — and about half current Walnut Creek residents.
The price per square foot has averaged $466. The project, the only new condo project in the I-680 corridor to open in 2009, is next to the BART station at 555 Ygnacio Valley Road. Prices range from $300,000s to mid-$700,000s. Residents began moving in a few months ago.
“Downtown Walnut Creek is a highly desirable neighborhood in which to live, work and play,” said Bruce Dorfman, principal of Thompson-Dorfman Partners “The future arrival of Neiman-Marcus is yet another signal of the area’s cachet, something not lost on our buyers.”
This month, 555YVR will begin to offer FHA loans, enabling buyers to apply a down payment as low as 3.5 percent, which could help demand in a market with no other new condominiums under construction.
