Align Real Estate Plans 450-Unit Residential Development in Livermore

Transition from Office to Residential Use

The decision to convert the office park stems from challenges in securing tenants for the aging buildings, which are considered outdated and lack modern amenities. According to a staff report, the current structures are not ideally situated and do not meet the expectations of contemporary tenants. Notably, office vacancy rates in Livermore reached 29.8 percent in the fourth quarter, highlighting the area's shifting real estate dynamics.

Development Agreement and Community Benefits

The Livermore City Council is poised to amend the Livermore Neighborhood Specific Plan and approve a development agreement with Align Real Estate. This agreement includes provisions for community enhancements such as bike lane improvements and a $4.5 million contribution to the city's community development fund. Brandon Cardwell, Livermore’s innovation and economic development director, emphasized the collaborative effort to secure these benefits in exchange for rezoning the land for residential use. 

Alignment with Housing Goals

The proposed residential project aligns with Livermore's objective to meet state-mandated housing targets, specifically the goal of permitting 4,570 homes by 2031. The redevelopment of the office park into housing units represents a strategic step toward fulfilling these requirements.

Future Land Use Plans

Post-rezoning, the 1,138-acre neighborhood plan will encompass 41 acres designated for office space, 152 acres for warehouse or industrial purposes, and 19 acres for light industrial or business park use. Currently, the area hosts 4.4 million square feet of office, industrial, and commercial buildings, with plans to add an additional 2.1 million square feet over the next two decades. 

Conclusion

Align Real Estate's initiative to redevelop the underutilized office park into a vibrant residential community reflects broader trends in adaptive reuse and urban development. By addressing both market demands and community needs, this project has the potential to significantly contribute to Livermore's housing landscape.​

Sources:

• The Real Deal: Office-to-Resi Conversion Includes 500 Homes in Livermore

• San Francisco Business Times: Livermore to consider rezoning office park for 450 homes