Add to Technorati Favorites Roof Magazine: Luxury Apartments For Corte Madera?

Friday, April 4, 2008

Luxury Apartments For Corte Madera?

The new owners of Madera Vista—one of Marin's largest if not best-kept apartment complexes—are embarking on a $25 million plan to spruce up the joint, according to today's Marin Independent-Journal, which notes that the aging seven-buliding complex has "sweeping views of San Pablo Bay and easy access to public open space."

Tenants in Building 7 were the first to be told to scram (by June 1). Rents, for anyone who might be thinking of moving back into the 126-unit complex after renovations are finished in three years, will set a Marin record:

Apartment broker Scott Gerber of NorCal Commercial Inc. in Larkspur, said Madera Vista will probably have among the highest rental rates in the county. Average two-bedroom apartments go for $1.76 to $1.79 per square foot in Marin and properties at the high end cost about $2.30 per square foot. He said Stellar could end up asking $3,575 for a 1,300-square-foot two-bedroom unit given their investment, the location and the views.

1 comment:

Anonymous said...

Tenants were not told to SCAM
you idiot.
There was a meeting only for building 7 tenants and the tenants in building 7 were told they could move to other units within the apartment complex.
Tenants at that meeting were also
told Madera Vista stopped renting to outsiders so the people in building 7 would be able to relocate within the Madera Vista's other buildings.