Toll Brothers Apartment Living – GuruFocus.com

SAN DIEGO, June 24, 2022 (GLOBE NEWSWIRE) — Apartment Toll Brothers®, the rental subsidiary of Toll Brothers, Inc. (:TOL), the nation’s leading luxury home builder, today announced the grand opening of The Lindley, a 37-story, 422-unit luxury apartment building located on the edge of San Diego’s Little Italy. Totaling over 800,000 square feet, including more than 12,000 square feet of commercial space on the ground floor, The Lindley will be one of the largest multi-family projects ever developed by Toll Brothers in its decade-long history. of the company’s Apartment Living business and serves as a landmark new multi-family development in California.

The 23 June groundbreaking ceremony brought together senior executives from Toll Brothers Apartment Living, The Lindley’s development partners, local elected officials and media representatives.

“The Lindley is proud to announce the arrival of our business in the burgeoning San Diego market,” said Charles Elliott, President of Toll Brothers Apartment Living. “This project will represent the best that Toll Brothers Apartment Living can build, and as one of our flagship properties it will embody a new standard of luxury development in this city; a standard we are already building across the country.

The Lindley was designed by renowned Joseph Wong Design Associates. Development and construction of the site began in early 2022 and is expected to be completed by the end of 2024. The Lindley will be located at the corner of Columbia Street and Ash Street in San Diego’s Columbia business district. Located just steps from the endless dining and entertainment options of Little Italy, Harborview, Embarcadero and the Gaslamp Quarter, The Lindley offers convenient access to PETCO Park, Balboa Park, the Santa Fe Railroad Station and the San Diego International Airport.

“The Lindley will set the bar for what San Diegan residents can expect from urban luxury apartment living in their city,” said Michael McCann, Southern California Regional Manager of Toll Brothers Apartment Living. “From the quality of materials to the extraordinary amenity offerings, The Lindley demonstrates that we are prepared to compete with the most luxurious rental offerings available on the market.”

The Lindley will include bachelor, one- and two-bedroom floor plans, as well as penthouse residences and townhouses. The building will include a structured parking garage above and below ground level with 561 parking spaces and capacity for 222 electric vehicle charging stations. The large lobby and first floor mezzanine accommodate on-site property management, concierge, mail and secure parcel room. Throughout the property, residents will enjoy high-end finishes, secure keyless entry, WiFi, and over 22,000 square feet of indoor and outdoor amenity space. Most of the amenities will be located atop the building’s seventh-floor podium and will include an outdoor pool and spa, barbecue grills, pet spa and dog walk, indoor/outdoor fitness center, massage rooms, yoga spaces, a sauna, coworking spaces, a game room, a club room, lounge, and wine bar. Rooftop facilities include a rooftop lounge, demonstration kitchen, and wrap-around deck with sweeping views of downtown San Diego.

The apartments will feature LVT floors, European-style cabinetry, quartz countertops with tile backsplashes, stainless steel appliances, energy-efficient LED lighting and smart thermostats. The penthouse and townhouse residences, located exclusively on floors 35-37, will feature higher ceilings, hardwood floors, quartz backsplashes, upgraded appliances and automatic window shades. All residences will have private balconies, with four of the townhouses having additional private rooftop terraces.

The Lindley will achieve LEED Gold certification. To achieve this standard, all demolition materials have been responsibly recycled and sustainably sourced materials will be used throughout. Rainwater will be collected from the site and will go through biofiltration processes before entering the stormwater drainage. Environmentally friendly cleaning products will be used exclusively in building operations. Residents will be able to take advantage of fast charging stations for EVs. The Lindley will also meet Type 1 building standards, which uses a non-combustible, fire-resistant concrete and steel structure.

Affordable housing is also an essential part of the development project. As part of The Lindley’s entitlement agreement, Toll Brothers Apartment Living is making a significant contribution to the development of off-site affordable housing, helping to realize the City of San Diego’s initiative to increase housing options affordable for its residents. This contribution will directly support the construction of 42 affordable housing units in downtown San Diego, which will be developed by Trestle.

The Lindley marks the first Toll Brothers Apartment Living project to break ground in San Diego, and the third to break ground in California after Cameo in Orange, CA, which sold in 2021, and Rafferty in Santa Ana, CA, which is set to open. to residents in early 2024. The Lindley represents Toll Brothers Apartment Living’s continued expansion into California, with the company currently on track to have nearly 1,300 residences in three projects actively under construction in Southern California before the end of 2023.

In 2021, the company’s platform has also expanded significantly nationwide. Toll Brothers Apartment Living began construction on 3,621 units located in more markets than ever before, a 416% increase over the prior year, which marked the largest period of single-year growth in its history. story. Toll Brothers Apartment Living is rated 11e the largest multifamily developer in the United States by the National Multifamily Housing Council (NMHC) 2022 NMHC 50.

For more information on visiting Lindley LiveTheLindley.com.

About Toll Brothers Apartment Living®

Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (:TOL), a FORTUNE 500 award-winning company and the nation’s leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury and service that Toll Brothers is known for to its exceptional rental and mixed-use communities in select markets including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia , Phoenix and Washington D.C. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design and the expertise of America’s Luxury Home Builder®. In 2022, NMHC ranked Toll Brothers Apartment Living the 11th largest apartment developer in the United States. Today, the company has developed nearly 8,500 units, has nearly 4,500 units under management and controls a nationwide pipeline of more than 20,500 units. For more information, visit TollBrothersAppartementLiving.com.

About Toll Brothers

Toll Brothers, Inc., a FORTUNE 500 company, is the nation’s leading builder of luxury homes. The company was founded 55 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL”. The company serves first-time home, moving, empty nest, working adult and second home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and Washington, as well as the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology and landscaping subsidiaries. The Company also operates its own lumber distribution, home component assembly and manufacturing businesses.

Toll Brothers was named the World’s Most Admired Homebuilder in FORTUNE magazine’s 2022 survey of the World’s Most Admired Companies®, the seventh year it has been so honored. Toll Brothers was also named Builder magazine’s Builder of the Year and is the first two-time recipient of Professional Builder magazine’s Builder of the Year award. For more information, visit TollBrothers.com.

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Submitted by Toll Brothers via Regional Globe Newswire (TOLL-REG)

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Joshua B. Speller