Cal Weber Associates LP and partners DFA Development LLC, Riverside Charitable Corporation, Inc., and PNC Real Estate will celebrate the groundbreaking of “Cal Weber 40” – a Downtown Stockton affordable family housing development, Thursday May 14th. Chris Flaherty of DFA Development & 3 Leaf Holdings will kick off the ceremony by talking about the impact this development will have on the community.
“I believe this project will be a catalyst …to future dwellings being built in the Downtown core. It can be a good showpiece, especially after everything Stockton has been through,” said Chris Flaherty.
Cal Weber 40 (http://www.calweber40.com) will consist of 40 units – 28 apartments with two bedrooms and one bathroom and 12 more with three bedrooms and two baths. The modern apartment complex will boast solar-powered units, a computer lab and a private playground. Located at the corner of N. California Street and E. Weber Avenue, the project would entail renovation of the 123-year-old Cal Weber Building and the 88-year-old McKeegan Building. The project will offer designated parking, common areas, private balconies, as well as an impressive 12’ + ceiling height for third story units. The ground level will remain commercial with the exception of four units located at the north and south entrances in the Cal Weber building residential lobby.
“It’s an exciting project,” said Anthony Barkett, a developer and a business partner of Flaherty. “It’s going to serve families in the $ 30,000 – $ 35,000 range – good, hardworking families with kids who can walk to school. It’s got an urban feel to it.”
Many local organizations, financial institutions, and government leaders played a role in developing this project. Partners in the project include: Cal Weber Associates LP, DFA Development LLC, Riverside Charitable Corporation Inc., PNC Real Estate, City of Stockton, PNC Bank, and Farmers & Merchants Bank.
This project will provide, for the first time in years, a new affordable-housing option for people interested in living Downtown and will be a much needed piece to reenergize Downtown. Micah Runner, Stockton’s Director of Economic Development, said, “A private developer’s desire to bring a residential project downtown is a promising sign.”