Waymark Development Wins Approval for 83-Unit Townhome Project in Hayward

• Waymark Development approved for 83-unit townhome project
• Replaces 37K SF nonprofit campus owned by Arc of the East Bay
• Shift toward mid-density housing amid tough financing conditions

Waymark Development moves forward with suburban infill project

Waymark Development, led by Jason Kliewer, has secured approval to build an 83-unit townhome project in Hayward. The development will replace a nonprofit campus owned by Arc of the East Bay, marking a transition from institutional use to residential redevelopment.

Redevelopment driven by a land repositioning strategy

Arc of the East Bay is relocating and plans to sell the property as part of a broader strategy to move closer to transit and services. For developers, this creates an opportunity to acquire well-located land and reposition it for housing, a common play in supply-constrained California markets.

Project shifts toward medium-density housing

Plans call for 14 buildings with five to eight townhomes each, reflecting a move toward mid-density product instead of large multifamily towers. This approach is becoming more common as developers adjust to rising construction costs and financing challenges.

State law helps streamline approvals

The project was filed under California’s SB 330, which limits delays and locks in zoning standards once an application is submitted. This allows developers to move projects forward faster, even in markets historically resistant to new housing.

Market conditions driving product type changes

Developers across the East Bay are shifting toward townhomes and rowhouses as a more financeable alternative to high-rise construction. High interest rates and rising costs have made large-scale projects harder to execute, pushing builders toward lower-risk, mid-density developments.

 What this means for residential investors

Waymark’s project reflects a broader shift in California housing. Developers are adapting to capital constraints by focusing on projects that are easier to finance and build. For investors, mid-density housing like townhomes is becoming an increasingly attractive asset class, offering lower costs and steady demand in high-growth suburban markets.