San Mateo Office Tower Slashed Into 144 All-Rental Units
Tourbineau Real Estate Partners has formally proposed converting San Mateo's 12-story Tower Plaza office tower into 144 one-bedroom rental units, with 22 reserved as below-market-rate homes. The project involves modernizing the facade, adding a new lobby and fitness space, and landscaped courtyards.
Tourbineau Real Estate Partners plans to convert San Mateo's Tower Plaza office tower into 144 one-bedroom rental units. The proposal includes modernizing the facade, a new lobby, fitness space, and landscaped courtyards. Twenty-two units will be reserved as below-market-rate homes. The project is an adaptive reuse, with the existing parking structure and most surrounding low-rise buildings remaining largely unchanged. Tourbineau acquired the Tower Plaza campus for $22 million last year. The city is reviewing the proposal under state housing laws SB 330 and AB 2011, which streamline review paths for qualifying housing projects.
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