HSR, Barings break ground on 501-unit Redwood City project
Key Takeaway: High Street Residential and Barings have begun work on a two-building, 501-unit apartment development within Redwood City’s ELCO Yards district, with delivery scheduled for 2029.
High Street Residential, the residential subsidiary of Trammell Crow Company, and joint venture partner Barings have officially broken ground on a major two-building multifamily development in Redwood City. The project, which totals 501 apartments, anchors the transit-oriented ELCO Yards mixed-use district in downtown Redwood City, according to REBusinessOnline.
Two communities, one district
The district spans approximately 8.3 acres of former auto dealerships and surface parking near the Redwood City Caltrain station. Alongside the new residential buildings, ELCO Yards incorporates more than 600,000 square feet of office and laboratory space, restaurants, public plazas, parks, and childcare facilities. The commercial and life sciences phase led by IQHQ Inc. has been delivered and is 50 percent leased, with a 224,000-square-foot lease to The Chan Zuckerberg Initiative and a 65,000-square-foot lease to Orrick, Capdex reported.
The residential component features two distinct structures designed by WRNS Studio and built by general contractor SBI Builders. The first community at 1555 El Camino Real will deliver 252 units averaging 751 square feet, plus 5,277 square feet of ground-floor retail. The second building at 113 Beech Street will house 249 units averaging 787 square feet. Both properties are scheduled for delivery in 2029.
Unit mix and amenities
Per the project’s architect WRNS Studio, the 501 homes include 128 studios, 279 one-bedroom, 71 two-bedroom and 23 three-bedroom units, Capdex reported. Residents will have access to rooftop decks and lounges with views of Redwood City and the Santa Cruz Mountains, resort-style pools, spas, clubrooms, covered parking, coworking spaces, and green spaces.
What the partners say
“We love Redwood City. The market continues to grow as a dynamic jobs center, and the community offers excellent amenities. ELCO Yards reflects our conviction in the Peninsula market and our commitment to delivering high-quality housing where it is needed most,” said Adam Voelker, Market Leader of TCC’s Northern California office, in the release.
“We are pleased to expand our relationship with TCC through this project, which reflects our strategy of investing in multifamily communities in established suburban locations that offer walkability and convenient transit access,” said David Otte, Managing Director, Barings Real Estate, in the release. “With proximity to the CalTrain station, favorable demographics, and a compelling rent-to-income dynamic, we believe ELCO Yards is well-positioned to serve long-term housing needs in Redwood City.”
Key Story Metrics
| Figure | Reported Status |
|---|---|
| Total units | 501 (252 at 1555 El Camino Real; 249 at 113 Beech Street) |
| Average unit sizes | 751 sq ft (El Camino Real); 787 sq ft (Beech Street) |
| Ground-floor retail | 5,277 sq ft at 1555 El Camino Real |
| Delivery | 2029 |
| Architect / General contractor | WRNS Studio / SBI Builders |
| Office and lab space | 600,000+ sq ft, led by IQHQ Inc. (50% leased) |
| Office leases | 224,000 sq ft to The Chan Zuckerberg Initiative; 65,000 sq ft to Orrick |
| Affordable share | 27%, roughly 135 units (per WRNS Studio via Capdex; single source) |
✓ Verified
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, and Barings have broken ground on a two-building, 501-unit multifamily development in Redwood City’s ELCO Yards district. The 252-unit community at 1555 El Camino Real averages 751 square feet with 5,277 square feet of retail; the 249-unit building at 113 Beech Street averages 787 square feet. Both are scheduled for delivery in 2029. WRNS Studio designed both residential buildings; SBI Builders is the general contractor. The office portion led by IQHQ Inc. is delivered and 50% leased.
⚠ Still needs confirmation
The 27% affordable-housing figure (roughly 135 units) comes from WRNS Studio via Capdex alone and is not yet confirmed by the developers. Local reporting cited by Capdex indicates Redwood City revised the project’s affordable-housing requirements in November 2025, reducing quotas for extremely low-, very low- and low-income households. The dossier provides no information on the project’s total cost.
- Trammell Crow Company newsroom: press release, October 15, 2026
- REBusinessOnline: project report, October 19, 2026
- Capdex: project report, October 17, 2026
Editor’s note: All project figures are drawn from the Trammell Crow Company press release of October 15, 2026, and reports by REBusinessOnline and Capdex.
