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<br />Sobrato finds new opportunity in old R&D sites <br />I big demand fOT hO\l5ing coupled with a soft lndustn- computer chip facility. <br />I: al propeny market has led the Sobrato Development In the case of Tamarind Square, officials decided to raze <br />Coso to make a bold move_ the old R&D building and construct new housing- <br />The family-owned firm is turning a few of its Looking at the market conditions, "it didn't make sense to <br />older research-and-developmem (R&D) sites into hIgh-end hold the buildings as industrial," said John R. Shenk, semor <br />apartments starting this summer, with the opening of vice president at Sobrato, a small firm that is one of the area's <br />Tamarind Square in Sunnyvale, in the heart of Silicon Valley largest commercial developers_ The company has built some of <br />For about 30 years, the land was home to an R&:D COID- the regions biggest and most notable office projects, including <br />plex but will soon become rental housing with 123 units in the the Apple Computer headquarters. <br />first phase. The units will open to residents in August Overall, the area continues to recover slowly from the <br />"A big demand for housing coupled with a soft industrial <br />property market has led the Sobrato Development Company to <br />make a bold move. .... For about 30 years, the land was home to <br />an R&D Complex but will soon become rental housing... <br /> Apartment Finance Today - July 2004 <br /> 54 <br />