When will we see the City Center?

We recently spoke to both the Mayor and the San Ramon Director of Economic Development about the City Center Project. The City Center Project in San Ramon CA still has broad support from the citizens, the City Council and Sunset Development. Back in 2006, it looked like the project would begin any day, and then the economy went south. When the economic conditions are more favorable, the City Center will be built according to those in the know.

The City Center project includes plans for 525 residential units which is one of the big financial factors in getting the City Center built. Alex Mehran, President and CEO of Sunset Development, the primary developer of the City Center project, says, “You haven’t seen a significant retail project, or a significant residential project for sale of the magnitude we’re talking about with the San Ramon City Center developed anywhere in the Bay Area, and we have one of the best economies in the country. To put it in some perspective with respect to the housing business, of which a good portion of this project is dependent, the country in 2005 built 2.2 million residential units, last year we built 500,000 units. In California in 2005, we were at 220,000 new residential units sold, in 2010 we were at 28,000 units.”

The other major factor in getting the San Ramon City Center built is anchor tenants. So the City Center like many of our personal plans and projects is on hold until we see some sustained economic growth beyond the Lackadaisical 1% – 2% we’ve been seeing.

The addition of 500+ jobs in Bishop Ranch and the $billion investment by GE in the area will help San Ramon’s local economy and housing market to improve and stabilize to a greater degree than much of the East Bay, but the overall challenges of the State of California and the U. S. will be factors for the next 2 to 3 years if not longer. Without some kind of sudden, miraculous turn around of employment and financial prosperity, we’re probably looking at 2015 before we have any certainty on the City Center project. In the meantime, we can look forward to a San Ramon WalMart.

Recent data from NARI: National Association of the Remodeling Industry shows home remodeling activity is rising significantly. Single family home starts are down as apartment building starts are rising. Home values are fairly stable or still slowly settling in some areas as rents continue to rise.

Home Buyers – You can get more specific details on homes in your price range by emailing Craig and requesting a Real Estate Pricing Specific Trend Report – be sure to specify a zip code and price range.

San Ramon Home Sellers – You can request a Real Estate Pricing Specific Trend Report for your home. Email Craig with your neighborhood and pricing info.

Showing properties 1 - 5 of 76. See more city of San Ramon real estate.
(all data current as of 5/17/2012)

1. $639,950 : 117 BALTUSROL PL, SAN RAMON
   
   4 beds, 3 full baths

   Home size: 2,384 sq ft

   Lot size: 10,800 sqft
2. $499,000 : 2402 AMARYLLIS CIR, SAN RAMON
   
   3 beds, 2 full, 1 part baths

   Home size: 1,433 sq ft
3. $785,000 : 504 FALLEN LEAF CIRCLE, SAN RAMON
   
   4 beds, 3 full baths

   Home size: 2,614 sq ft

   Lot size: 15.00 ac
4. $1,879,000 : 415 CRANLEIGH CT, SAN RAMON
   
   6 beds, 6 full, 1 part baths

   Home size: 5,632 sq ft

   Lot size: 18,295 sqft
5. $1,115,000 : 7837 KENNARD LN, SAN RAMON
   
   5 beds, 4 full, 1 part baths

   Home size: 4,202 sq ft

   Lot size: 9,578 sqft

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