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Steadfast Companies Builds Larger Headquarters to Accommodate Growing Operations.
Move Scheduled for September 1.
NEWPORT BEACH, CA -- June 30, 2001 — Steadfast Companies,
a diversified real estate development and management company, today
announced that it is planning to move its corporate headquarters
into Birch
Bayview Plaza, a set of two 48,000 sq. ft. buildings it is developing
in the Back Bay area of Newport Beach. Steadfast Companies, which
maintains it's headquarters currently in nearby Birch
Business Center, a building it developed less than two years
ago, has seen tremendous growth in its multi-family housing division
and has reserved over 20,000 sq. ft. on the second floor of one
of the new buildings to accommodate its staff.
“We are very proud of the growth we’ve experienced,
spearheaded by our multi-family division, and expect that these
new offices will provide a productive environment for our staff.
Our pace of new development has leveled off recently, and we believe
these new headquarters will serve us well for quite some time. Of
course, that’s what we thought about our current space when
we moved in last year, so I am not making any specific predictions.”
quipped Steadfast Companies’ CEO Rodney F. Emery.
A Leader in Tax-Exempt Multi-family Housing Development
As the largest group within the Steadfast Companies, the Multi-Family
Division has been involved in the acquisition, refurbishment and
management of more than 10,000 multi-family residential units, more
than 7,500 of which it owns and operates currently. A portion of
the units it currently manages is devoted to affordable housing
as part of Steadfast Companies’ community outreach programs.
These properties have been purchased and renovated by Steadfast
with the assistance of private-sector funding, conventional financing
and, frequently, through tax-exempt municipal-bond financing and
the sale of tax credits.
About Birch Bayview Plaza
The Birch Bayview Plaza is situated on 4.36 acres in the western
section of Birch Street in Newport Beach. The property overlooks
Upper Newport Bay, and many offices have views of the Back Bay.
Construction of the two three-story 48,000 sq. ft. office buildings
is scheduled to be completed by September 1, and the two buildings
are approximately 97% leased.
About Steadfast Companies
As a diversified organization, the Steadfast Companies acquire,
develop and manage real-estate properties within the continental
United States, Hawaii and Mexico. With corporate offices in Newport
Beach, Steadfast’s main operating company is Steadfast Properties
& Development Co., Inc., whose staff of more than 570 employees
coordinates the administrative, accounting and support services
for its three divisions – Multi-Family, Commercial, and Hospitality.
In addition to its development and management activities, Steadfast
supports several non-profit community foundations that offer supplemental
and social services designed to improve the lives of children and
families in the communities where its properties are located.
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