Keyser Marston provided advisory services to the University of California at Davis relating to the ambitious development of a new mixed-use campus community - West Village. The planning and implementation of this dynamic new neighborhood, located on UC Davis land, facilitates the continued growth and success of the campus.
Keyser Marston helped structure the public-private real estate transaction between the private developer and the University. The University was the sole permitting entity for this project and all housing was built on ground leases. The for-sale housing is built on individual ground leases with 99-year terms, with the prices of the units controlled at resale to ensure continued affordability to the campus community. The rental and commercial space was built on 65-year ground leases, which were prepaid by the developer to fund in-tract infrastructure.
KMA's specific roles in this assignment included the negotiation of business terms with the master developer for the ground leases, assisting the campus in relations with the Office of the President, and working with the campus in presentations to the UC Regents.
At full built out, West Village will include 343 units of single-family housing for faculty and staff, 662 apartments for students and 42,500 SF of commercial space. West Village is also commendable for being the largest planned "zero net energy" community in the country.