DAVIS, CALIF. — The Michaels Organization and has broken ground on an $88 million community called The Lumberyard in Davis. Development partners include Kyuden Urban Development America (KUDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN), a Tokyo-based firm specializing in overseas transportation and urban development projects. KUDA is the U.S. real estate development subsidiary of Japan-based Kyushu Electric Power Co.
The Lumberyard takes its name from Hibbert’s Lumberyard and Hardware Store, which operated on the development site at the intersection of G and 5th streets from 1947 to 2019. The five-story midrise will include 239 apartments, 5 percent of which will be set aside for households earning up to 50 percent of area median income.
Units will be offered in floor plans ranging from studios to four-bedrooms. BDE is the architect, and Brown Construction is the general contractor. Michaels will serve as property and asset manager. The project will be LEED certified. Completion is slated for 2028.