Construction Commences on KTGY-designed Carmel Loft House in Sunnyvale, Calif.

Carmel Loft House, a contemporary, new, mixed-use development designed by KTGY, is under construction in Sunnyvale. Located adjacent to Plaza del Sol, the sustainable, urban infill development will consist of two buildings comprised of up to four stories of residential with 133 loft-style apartment homes and more than 6,000 square feet of ground floor retail space. End Quote

San Jose, CA (1888PressRelease) January 02, 2013 - Award-winning KTGY Group, Inc., Architecture and Planning, is pleased to announce that Carmel Partners of San Francisco has begun construction on Carmel Loft House, a contemporary, new, mixed-use development spanning two city blocks adjacent to the popular Plaza del Sol, off of South Frances Street and Olson Way in the heart of downtown Sunnyvale, Calif. The sustainable, urban infill development will consist of two buildings comprised of up to four stories of residential with 133 loft-style apartment homes and more than 6,000 square feet of ground floor retail space.

Carmel Loft House features 1- and 2-bedroom open floor plans ranging in size from approximately 700 to 1,500 square feet, with 10' ceilings, floor to ceiling windows, balcony, and all the many modern and eco-friendly features that make this mixed-use community cutting edge for today's tech savvy, environmentally-focused professionals. The community will be equipped with the latest in technology; concentrating on connectivity, Internet speed, and serving a population increasingly interested in working from home.

Carmel Loft House has been designed to achieve a GreenPoint rating with a targeted goal of 100+ points (only 50 points are required to be GreenPoint rated for new multifamily construction). With a goal of long-term sustainability and durability, some of the green features at Carmel Loft House include Energy Star appliances, high-efficiency air conditioning system, enhanced building insulation, efficient use and recycling of building materials, low VOC paint, and efficient irrigation, drought-tolerant plants and low-flow fixtures to conserve water.

"Carmel Loft House will be ideally situated in the heart of downtown Sunnyvale and will embody all of the convenience of urban, transit-oriented living by providing an opportunity for residents to truly live, work and play, all without leaving the comfort of their own neighborhood," said Mark Garrell, vice president, development of Carmel Partners, Inc.

"Carmel Loft House will differentiate itself within the marketplace by featuring loft-style apartment homes with 10' ceilings, oversized windows, open floor plans, and modern high end finishes. We believe this product will appeal especially to tech sector renters who enjoy the convenience of living close to work, but are also seeking a more urban and sophisticated lifestyle," Garrell said.

According to David Senden, KTGY principal and lead designer for the project, "The development of Carmel Loft House gives residents a chance to have the best of both worlds: the convenience of living in an eco-friendly, urban environment with immediate access to dining and entertainment, transit options within walking distance, as well as, the safety and peace of mind that comes from living in a suburban peninsula location."

"This is one of the best sites in Sunnyvale and completes the City of Sunnyvale's vision for a backdrop to the Plaza del Sol," said KTGY's Jessica Musick, one of Carmel Loft Houses' project designers. "The active lifestyle of the residents at Carmel Loft House will activate the city streets and bring energy to an otherwise empty space." Plaza del Sol, which is situated on top of a city subterranean parking garage, spans 1.6 acres and is an urban oasis located in the heart of Sunnyvale's downtown near the bustling Murphy Street and Caltrain Station, which is located just two blocks away.

Senden noted that a recent study released by the Center for Neighborhood Technology found that people living in location-efficient neighborhoods -- close to transit, jobs and amenities -- save approximately $200 per month and are less impacted by fluctuating gas prices than those living in car-dependent places.

"Architecturally, Carmel Loft House's design speaks to the future residents' desire for a contemporary environment that mimics their daily life, working in Silicon Valley," Senden said. "Our goal is to show them that you don't need to live in San Francisco to enjoy a walkable urban and fulfilled lifestyle as a young professional."

Pre-leasing is expected to begin in summer 2013, and the first apartment homes are slated to open in late 2013. Prospective residents will be able to visit www.carmelapartments.com for more information once pre-leasing begins.

About Carmel Partners
Carmel Partners is a premier national full-service real estate company with acquisition, development, construction, capital markets, leasing and management capabilities. Our goal is to achieve maximum asset value by carefully assessing investment opportunities and delivering imaginative, innovative and creative development plans. Founded in 1992 by Ron Zeff, Carmel Partners is based in San Francisco with offices in Irvine, Denver, Seattle, Washington, D. C. and Honolulu. See www.CarmelPartners.com

About KTGY Group
Celebrating 20 years, KTGY Group, Inc., Architecture and Planning, is a national award-winning firm providing comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, market trends and financial performance. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, Calif., Denver, Colo., and Tysons Corner, Va. See http://www.ktgy.com

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