Project

Quail Hollow

Novato, CA, 1986

A 196-unit condominium complex completed by the Duffle Company.

Quail Hollow is a 196-unit condominium complex completed by the Duffle Company. Twenty-nine of the units were sold to Northbay Family Homes buyers.

Originally approved 10 years earlier as an apartment complex, Quail Hollow stalled because in the early 1980s no financing was readily available for apartments. Northbay Family Homes achieved the City of Novato's permission to convert from apartments to condominiums, so that financing could be more readily obtained by the builder. The City required that 15 percent of the units be affordable.

Northbay Family Homes worked with the Duffle Company to secure local approvals, change the project from apartments to condominiums, identify the take-out financing needed to sell the 29 affordable units, and identify the buyers of those units.

Northbay Family Homes continues to manage some of the financing on the project.

Our involvement in Quail Hollow included the following services from our Seven Points of Entry in real estate development:

Entitlement Approval (providing guidance to the developer and securing resources of a particular description to move a project along);
Mortgage Take-out (securing the mortgage financing for buyers);
Occupancy Activities (getting buyers into ownership units); and
Post-Occupancy Asset Holding (managing the investments of others following completion and occupancy).