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6/4/2014



Rail News: Rail Industry Trends

Developer chosen for 112-acre UP parcel next to BART station


Fremont, Calif., officials yesterday announced that Lennar Corp. has been selected as the developer for Union Pacific Railroad's 112-acre parcel in the city's Warm Springs District, the largest development opportunity in Fremont's Innovation District that's anchored by Bay Area Rapid Transit (BART) and Tesla Motors Inc.

The Warm Springs Community Plan calls for the development to include a new grand boulevard, Innovation Way, that will connect Fremont Boulevard to the Warm Springs/South Fremont BART station, and significant space for commercial, research and development, residential and retail uses, Fremont officials said in a press release.

"Transformative companies like Tesla have already brought an amazing worldwide brand to the Warm Springs District, and we see tremendous opportunity to further principles of technology, sustainability, and job creation in the community that we design, develop and build here,” said Jon Jaffe, chief operating officer of Lennar.

Additional new investors will seek to develop key parcels adjacent to BART, including Toll Brothers, Valley Oak Partners, and The Sobrato Organization, city officials said.

The site's development also will allow for significant infrastructure improvements, including street networks and a new pedestrian bridge connecting the BART station to a majority of the development, they said.

Site construction is scheduled to begin in early 2016, following the opening of the Warm Springs/South Fremont BART station in December 2015. Final adoption of the Warm Springs Plan is set to occur this summer.



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