Number of Walnut Creek Vacant Homes Doubled in the Past Ten Years

The number of homes that are unoccupied has doubled in the East Bay during the past decade, with Walnut Creek having one of the highest vacancy rates of any community in Contra Costa, Alameda and Solano counties. 

Newly released 2010 Census figures show the vacancy rate rose sharply in Contra Costa, Alameda and Solano counties between 2000 and 2010.

Walnut Creek rose from 1,124 unoccupied living units to 2,238 units in 2010, increasing its vacancy rate from about 3.5 percent to 7 percent.

The census figures don’t reveal what percentage of the vacancies are single-family homes, apartments, condominiums or mobile homes.

This news comes as developers are about to embark on projects to bring more than 1,000 new housing units to Walnut Creek over the next few years. Six projects are in the development pipeline. 

These units would not come in the form of the traditional suburban single-family home on quarter acres but as apartments and condominiums that would be part of six complexes planned for downtown and nearby. The largest project would involve 600 units in a new BART transit village.

However, the developers of one of those projects, the Village at 1500 Newell Ave., have asked for an extention on their project, according to a staff report prepared for Wednesday night's Design Review Commission meeting. 

Essex Alamo LLC wants to tear down the eight-story white eyesore, a former Security Pacific bank building, at the corner of Newell Avenue and South Main Street. The Palo Alto-based apartment developer would replace that building with 49 multi-family units and 36,000-square feet of retail space in a five-story building.  The project on nearly two acres would also include a courtyard next to Las Trampas Creek, street frontage improvement, larger sidewalks, safer crosswalks and new steet lighting. 

The project had received approval from the Design Review and Planning Commissions for its design, public art and plans to remove trees. 

But in a letter recently sent to Walnut Creek's planning manager Victoria Walker, Essex Alamo's development manager Anton Baker asked for a one-year extension to proceed wih the project.

"Due to the unforeseen economic downturn, our project has been delayed in breaking ground," he wrote. "The economiy has certainly improved in recent months, but we still find ourselves in an extremely challenging  housing and real estate market.  We believe in ths project and hope to proceed in the coming year."

The current vacancy rate throughout the region appears to stem from the real estate market collapse of the past three years and the increase in foreclosures. 

“I’m surprised at these numbers,” said Wayne Gregori with Gregori Group Real Estate. However, he acknowledged, “There is a lot of word on the street about real estate agents getting into the short sale business.”

In Contra Costa County, the number of living units increased from 354,000 in 2000 to 400,000 in 2010. The number of unoccupied residences leaped from 10,448 to 24,899. The vacancy rate rose from about 2.5 percent to 6 percent.

In other nearby towns, the vacany rate more than doubled in Concord, Lafayette and Benicia. In Danville, the number of unoccupied units increased from 314 to 514 units. 

Most communities in all three counties experienced similar increases, no matter what their socio-economic demographics.

Even the high-income enclave of Diablo went from 6 unoccupied dwellings in 2000 to 27 in 2010. Its vacancy went from less than 2 percent to 6 percent.