Mill Creek Announces Groundbreaking at Modera Acheson Commons

Development Community Will Add 205 Apartment Homes, Retail Space to Downtown Berkeley

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Aug 23, 2018, 12:00 ET

BERKELEY, Calif., Aug. 23, 2018 /PRNewswire/ -- Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced it has broken ground at Modera Acheson Commons, a mixed-use apartment community in the heart of Downtown Berkeley.

The community, which will add 205 apartment homes and 14,000 square feet of retail space to one of the nation's most dynamic markets, will feature prime access to UC Berkeley. As part of the development community, Mill Creek Residential will restore the Acheson Physicans Building, originally built in 1908, into residential loft-style homes as part of historic preservation efforts. In addition, Modera Acheson Commons will contribute more than $4 million to the city's affordable housing trust fund.

Situated in a rapidly expanding downtown sector that possesses an average Walk Score of 98, future residents will have the ability to accomplish most tasks by foot. First move-ins are anticipated for mid-2020.

"The Berkeley market is among the most diverse and educated in the nation, and we're thrilled to become a part of it," said Dave Fiore, managing director of development, Northern California for Mill Creek Residential. "We believe Modera Acheson Commons will not only address the need for quality housing in a rapidly growing city, but also provide an unmatched living experience in the area."

Located along University Avenue and Shattuck Avenue, Modera Acheson Commons sits less than a block from the west entrance to UC Berkeley and immediately adjacent to the university's Energy Biosciences Building. The site is also within walking distance of the Downtown Berkeley BART Station, which allows passengers to commute to Downtown Oakland in 14 minutes and Downtown San Francisco in 26 minutes. AC Transit and Amtrak are also easily accessible from the community.

Berkeley is one of the nation's top intellectual and technology centers, which has created a robust job market for new businesses, innovative technologies, entrepreneurial activity and venture investment. In addition to UC Berkeley, local employment opportunities include Lawrence Berkeley National Laboratory, Alta Bates Medical, Berkeley Unified School District and Pixar.

Modera Acheson Commons residents will also have quick connectivity to a wide variety of retail, entertainment, dining and cultural attractions in the surrounding area. That includes the Berkeley Arts District, Berkeley Repertory Theater, Aurora Theatre Company, Berkeley Museum and Pacific Film Archive and several additional museums, galleries and cinemas.

Modera Acheson Commons will consist of studio, one-, two- and three-bedroom homes contained within four buildings with an average square footage of 716. Community amenities will be highlighted by two rooftop decks that include barbecues and fire pits. Residents will also have access to a 24-hour club-quality fitness studio, spacious clubhouse, Wi-Fi lounges, and controlled-access garage parking.

Apartment interiors will be delivered with high-end touches, including custom cabinetry, Energy Star stainless-steel appliances, in-home washers and dryers, wood plank-style flooring, high ceilings and built-in shelving. Select homes will include separate dining and den areas, walk-in closets, loft layouts and private balconies or patios.

Modera Acheson Commons is the sixth development community by Mill Creek in the Bay Area.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national multifamily company focused on the development, acquisition and operation of apartment communities in targeted markets nationwide. The company proactively pursues development, acquisition and construction opportunities through its seasoned team of real estate professionals in 14 offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable apartment markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Washington, D.C., New Jersey, New York, and Boston. As of March 31, 2018, the company's portfolio comprises of 72 communities representing over 19,400 apartment homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.