Apartment Investment and Management Company (“Aimco”) (NYSE: AIV), City Councilmember Janet Borgens and members of the Redwood City, San Mateo County Chamber of Commerce celebrated the February 23 grand opening of Indigo Apartment Homes in Redwood City. Aimco, the owner and manager Indigo, acquired the community for $320 millionand partnered with developer PAULS Corporation.
“We are thrilled to mark the grand opening of Indigo and its expansion of Aimco’s investment in the Bay area,” said Aimco Chief Investment Officer John Bezzant. “We are pleased to share this event with representatives of Redwood City who have welcomed us enthusiastically. Our Indigo residents take advantage of their outstanding location close to public transportation, major employers and a host of recreational opportunities within walking distance, and enjoy all of the comforts of upscale apartment living.”
“We appreciate Aimco’s investment in Redwood City and we welcome Indigo to this thriving neighborhood,” said Councilmember Borgens. “Our City continues to experience a renaissance and Aimco is playing a part in enhancing its economic vitality.”
Indigo is a ten-story luxury community of 463 well-appointed apartment homes featuring high ceilings, hardwood flooring, oversized windows, contemporary kitchens with designer hardwood cabinetry with several apartments accented by private patios or balconies. Indigo also offers 44 impeccably outfitted penthouse level units with exclusive 10th floor access, designer kitchens, top-flight finishes and spectacular views.
Indigo’s premier location within downtown Redwood City is approximately 25 miles southeast of San Francisco and on the northern edge of Silicon Valley, with easy access to both via CalTrain and adjoining freeways. Downtown Redwood City serves as a focal point of the larger surrounding residential community, with a thriving restaurant, entertainment, and cultural scene, as well as a growing community of technology related jobs.
Indigo offers residents extensive onsite amenities including an 18,000 square foot sundeck with a saltwater swimming pool, outdoor workout space and spa with an adjacent indoor fitness center including a yoga and spin studio. Social gathering spaces includ e an open air cabana lounge with a fireplace and an outdoor theater.
The first residents moved into their new homes in July and the community is currently 80 percent leased.
Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in selected markets in the United States. Aimco is one of the country’s largest owners and operators of apartments, with 189 communities in 22 states and the District of Columbia. In the Bay Area, Aimco owns and operates 14 communities and more than 3,000 apartment homes. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV, and are includ ed in the S&P 500. For more information about Aimco, please visit our website at www.aimco.com.