In a move that shows just how much real estate is changing in Marin County and the Bay Area, San Francisco-based Graham Street Realty (GSR), affiliated with Hamilton Zanze, has sold Hunt Plaza in Corte Madera. The 1.57-acre site, once meant to become a modern office hub, will now turn into a 99-unit affordable housing community.
The property sits just 10 miles north of the Golden Gate Bridge and a quick drive from Larkspur, Mill Valley, and San Rafael. That puts it right in the heart of one of Northern California’s most desirable regions.
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This isn’t just another commercial sale. It’s part of a bigger trend: turning underused office buildings into much-needed housing in Marin.
From Office Space to Affordable Homes
Hunt Plaza’s journey has been short, but it matters. When GSR picked up the 68,456-square-foot property in December 2021, they aimed to modernize the building and keep rents steady for a mix of tenants.
The original plan was to lock in long-term, market-rate commercial leases and keep Hunt Plaza as a go-to office spot in Corte Madera.
But Marin’s ongoing housing crunch—and a buyer ready to jump on local housing opportunities—changed things. GSR decided to sell, knowing the site would become an affordable multifamily community instead of more office suites.
A Prime Corte Madera Location
Hunt Plaza sits at 240 Tamal Vista Boulevard, right in one of Corte Madera’s busiest corridors. The spot offers easy freeway access and is close to The Village at Corte Madera shopping center.
It’s also just a short drive to Sausalito, Tiburon, and Novato. For future residents, the location promises convenience and that hard-to-pin-down Marin County quality of life.
Andrew Mustin, GSR’s Director of Asset Management, said the firm feels good about the outcome. The property will now serve the community by providing much-needed housing.
The Impact on Marin County’s Housing Landscape
Marin County, like much of the Bay Area, keeps struggling to meet state housing mandates while trying to protect its unique character. Towns from Fairfax to San Anselmo keep debating how to add new housing without hurting the environment or overwhelming local infrastructure.
Turning Hunt Plaza into housing is one way underused commercial sites can help solve the problem.
Why Office-to-Housing Conversions Are on the Rise
The pandemic sped up remote work, leaving lots of office buildings partly empty. In expensive markets like Mill Valley and Larkspur, property owners are looking at new ways to use their buildings.
Transforming an old office into apartments—especially affordable ones—helps cities meet housing goals and keeps development inside existing urban footprints.
- Maximizing Existing Land Use: Housing conversions help avoid pushing new development out into treasured open spaces like the Marin Headlands and around Mount Tamalpais.
- Meeting State Requirements: California’s Housing Element law says cities like San Rafael and Novato have to plan for more housing, including affordable units.
- Supporting Local Economies: More residents mean more business for shops and restaurants in Corte Madera, Larkspur, and Mill Valley.
Looking Ahead
Paramount Property Co., an Oakland-based affiliate, managed Hunt Plaza during GSR’s ownership. They kept the property in good shape, even as the commercial real estate market shifted.
Now, a new development team will take over, aiming to deliver housing that’s actually accessible to lower-income residents who want to call Marin County home.
The Bigger Picture
More properties in the Bay Area—from San Francisco to Sonoma—face uncertain futures in the office sector. Creative redevelopment like the Hunt Plaza project might just become the new normal.
Corte Madera is showing how Marin communities can balance growth, affordability, and the preservation of local character. It’s a tricky dance, but they’re giving it a real shot.
In the coming years, residents from Mill Valley to Novato will probably spot similar adaptive reuse projects popping up. For folks who want more housing but don’t want to lose precious open space, the Hunt Plaza conversion looks like a promising model.
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Here is the source article for this story: Graham Street Divests Corte Madera Offices for Resi Conversion
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