Multifamily Momentum: Two New Projects on the Horizon for Thousand Oaks
Proposed 297-Unit Mixed-Use Development at 195 E. Hillcrest Drive
Developers have submitted a pre-application to redevelop the office park at 195 E. Hillcrest Drive into a mixed-use project comprising 297 residential units and 11,200 square feet of commercial space. The proposal includes 25 affordable housing units and a parking structure with 438 spaces. The Thousand Oaks City Council has approved a contract with environmental firm EcoTierra Consulting to assess the project's environmental impact. While the project is in its early stages, with formal applications under revision, it represents a significant step toward expanding the city's housing options.
These developments reflect Thousand Oaks' proactive approach to accommodating growth and enhancing the community's residential offerings. As these projects progress, they are expected to contribute significantly to the city's evolving urban landscape.
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Sale of 500 E. Thousand Oaks Blvd. Paves Way for 328-Unit Apartment Complex
The 6-acre site at 500 E. Thousand Oaks Blvd. has been sold to High Street Residential, a subsidiary of Trammell Crow Company, for $18 million. The Thousand Oaks City Council approved a 328-unit apartment complex for this location last year. High Street Residential plans to commence construction in the first quarter of next year. The development will feature three separate buildings, each ranging from four to five stories, with two buildings incorporating ground-floor retail spaces. Additionally, the project includes two small parks, one highlighting a protected oak tree at the corner of Thousand Oaks Boulevard and Lombard Street.
“Thousand Oaks is really an incredible community. It offers diverse employment, high-quality education and natural beauty. We looked at this as an opportunity to add high-quality housing and retail in a core location on T.O. Boulevard.”
VC Star article: Site of 328-unit apartment project in Thousand Oaks sold
The 8-acre parcel at 195 E. Hillcrest Drive in Thousand Oaks could be built into a nearly 300 unit mixed-use housing development.
Photo: Isaiah Murtaugh/The Star
Proposed site for 500 E. Thousand Oaks Blvd.
Image courtesy of High Street Residential