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January 25, 2003

Marin Lofts Sells Out, Breaks New Ground

(San Rafael, CA) - Porter Development, the Santa Monica-based design build firm, announced today that its Marin Lofts project in San Rafael has completed its sales program by selling its last remaining luxury loft townhome.

In doing so, Porter Development successfully broke new ground in Marin County real estate circles by building and selling out a luxury loft infill project--rare in a suburban area more commonly known for its single-family homes, including the mid-century modern ranches by Joseph Eichler that can be found nearby.

"We went against the grain a little on this one. But we thought unique lofts that worked with the natural setting would appeal to the design-conscious homebuyer in a medium to high price range. Turns out we were right," said Damon Porter, President of Porter Development.

Marin Lofts consists of 15 dramatic, industrial-style live-work residences, each rising three stories over a split-level parking garage and surrounding a community courtyard. Exteriors are framed in steel and topped with distinctive barrel roofs. Oversize windows allow for sweeping views of Marin's bucolic landscape of rolling hills and, in some cases, Mt. Tamalpais, the region's highest peak. High-volume ceilings, exposed catwalks and trusses provide the interior spaces with a sense of airiness. Most finishes were personally selected by architects Jerry Kler and Jack Rittenhouse to reflect a European aesthetic. The lofts sold for prices beginning at $579,500.

Architects Kler and Rittenhouse had begun the development themselves by taking Marin Lofts through the entitlement process and securing all necessary approvals. Porter Development partnered with the pair by providing equity, arranging for financing, overseeing construction, and supervising marketing and sales.

Founded in 1995, Porter Development is a boutique design-build company offering a complete range of development services for residential and retail real estate, including architecture, construction, interior and exterior design, entitlement processing and planning. The firm often collaborates with world-class architects and designers, and also builds its signature new homes for sale. Recently completed projects include Carrara Place in Brentwood, Shirley Estates in Tarzana and numerous single-family custom residences in greater Los Angeles. For more information on the company and its homes, please contact Damon Porter (dporter@porterdevelopment.com) at (310) 315-5411, ext. 21.

 


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