Kimco Realty and Bozzuto Break Ground on The Chester at Westlake, Daly City's First New Mixed-Use Apartment Community in 15 Years

Rhea-AI Summary

Kimco Realty (NYSE:KIM) and Bozzuto have broken ground on The Chester at Westlake, Daly City's first major mixed-use apartment development in over 15 years. The project, scheduled to open in winter 2027, will feature 214 residential units and nearly 10,000 square feet of retail space.

The development includes 13,000 square feet of amenities, including dual courtyards, a fitness center, co-working spaces, and a rooftop sky lounge. Located at 99 Southgate Avenue, the project is part of the iconic Westlake Shopping Center, which Kimco has owned since 2002. The development is targeting LEED Gold Certification and represents Kimco's strategy of transforming retail centers into mixed-use destinations.

Positive

• First major mixed-use apartment development in Daly City in 15 years, indicating potential market leadership
• Strategic location near San Francisco, Interstate 280, and BART enhances property value and accessibility
• 70% of units will feature private balconies or terraces, potentially commanding premium rents
• Project targets LEED Gold Certification, demonstrating environmental responsibility
• Partnership with J.P. Morgan provides strong financial backing

Negative

• Significant construction period until winter 2027 means delayed revenue generation
• Potential market risks due to the Bay Area's evolving real estate landscape
• Large-scale project (250,000 SF) requires substantial capital investment and carries execution risks

News Market Reaction

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On the day this news was published, KIM gained 1.03%, reflecting a mild positive market reaction.

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Landmark project to deliver 214 apartments with modern amenities and neighborhood-oriented retail, enhancing the legacy of the Westlake Shopping Center

DALY CITY, Calif., Sept. 3, 2025 /PRNewswire/ -- Bozzuto, in partnership with Kimco Realty (NYSE: KIM), today announced the start of construction for The Chester at Westlake, a landmark mixed-use development that will be Daly City's first major predominantly market-rate apartment community in more than 15 years. Scheduled to open in winter 2027, the community will bring thoughtfully designed residences, dynamic amenities and a vibrant sense of place to one of the Bay Area's most established planned communities.

The Chester at Westlake advances Kimco's strategy of transforming its premier retail centers into vibrant mixed-use destinations. The project also reflects Bozzuto's nationally recognized expertise in creating award-winning residential communities and expands its management presence in the region. This is the partnership's second joint venture, following Coulter Place, a mixed-use development adjacent to the historic Suburban Square shopping center on Philadelphia's Main Line, which broke ground in 2023 and is scheduled to open later this year.

"We are honored to partner again with Kimco on The Chester at Westlake, Bozzuto's first ground-up development on the West Coast," said Toby Bozzuto, President & Chief Executive Officer, Bozzuto. "Together, we are creating a vibrant community that will combine an extraordinary living experience with a thriving retail destination, ensuring Westlake Shopping Center remains a cornerstone of Daly City's future. This work reflects the strength of our partnership and the remarkable possibilities that emerge when residential and retail expertise come together."

Located at 99 Southgate Avenue in Daly City, just south of San Francisco and less than a mile from the Pacific Ocean, Interstate 280 and BART, The Chester will include 214 residential units featuring studio, 1-, 2- and 3-bedroom apartments (70% of which will offer a private balcony or terrace), more than 13,000 square feet of amenities, and nearly 10,000 square feet of leasable ground-floor retail space. The Chester is part of the iconic Westlake Shopping Center, one of the earliest planned shopping centers in the United States and a longstanding community hub in the Bay Area. Daly City and its neighborhoods were built around Westlake, establishing it as the city's central retail and commercial core. The Chester will add modern residences, amenities, and retail that enhance Westlake's legacy as a destination while supporting the city's growth and vitality.

"Westlake has always been at the heart of Daly City, and with The Chester we are writing its next chapter," said Kimco CEO Conor Flynn. "This project reflects our strategy of transforming high-quality retail destinations into thriving mixed-use communities that bring new housing, amenities, and energy to one of the Bay Area's most established neighborhoods. Daly City is also where I began my career at Kimco, so helping to guide its evolution represents a full-circle moment, both for me and for our company."

At the heart of The Chester are thoughtfully designed spaces that cater to modern living. The community will feature a 2-story, hospitality-inspired lobby and two landscaped courtyards connected by a clubroom that flows into each. The west courtyard will serve as an active social hub, with an outdoor kitchen and grilling stations, a water feature, and ample lounge and dining areas for entertaining or connecting with neighbors. The serene east courtyard will provide a peaceful retreat with a covered lounge, fireplace, and lush landscaping for quiet relaxation. Additional amenities include a 24-hour state-of-the-art fitness center and yoga room, collaborative co-working spaces and personal focus areas, a communal bar area with lounge seating, and a breathtaking rooftop sky lounge and patio offering panoramic views. Together, these spaces blend community connection, wellness, and personal retreat.

Bozzuto Development Company will serve as lead developer of The Chester, together with Kimco's experience in developing, owning and operating vibrant retail destinations across the country. Kimco has owned and operated Westlake Shopping Center since 2002.  

Construction financing for The Chester is supported by J.P. Morgan. "J.P. Morgan is proud to support Bozzuto and Kimco Realty in the development of The Chester at Westlake, a landmark residential project that marks a new era for Daly City. This development will help enrich the community by offering modern living spaces and amenities, fostering a dynamic environment that celebrates the area's rich history while paving the way for its future growth."

Project Facts – The Chester at Westlake
Address: 99 Southgate Avenue, Daly City, CA
Site Size: 1.93 acres
Residential Units: 214 units
Residential SF: 250,000 SF
Amenities: 13,000 SF, including dual courtyards and indoor clubroom
Retail: 9,854 NRSF
Developer: Bozzuto Development and Kimco Realty
Property Manager: Bozzuto Management
Architect: BDE Architecture
Civil Engineer: Kimley-Horn
Interior Designer: Vida Design
Landscape Architecture: JETT Landscape Architecture & Design
General Contractor: Palisade Builders
Sustainability: Targeting LEED Gold Certification

About Bozzuto
Bozzuto is an experience-focused real estate company distinguished by its innovative developments, dedicated customer service, and top-rated workplace culture. With award-winning expertise in homebuilding, multifamily development, construction, and management, Bozzuto is devoted to delivering extraordinary experiences for those they serve.

Since its founding in 1988, Bozzuto has developed, acquired, and built more than 62,000 homes and apartments. Celebrating 37 years of creating sanctuary, Bozzuto currently manages 130,000 apartments and 4 million square feet of retail space across the U.S. For more information, visit Bozzuto.com.

About Kimco Realty®
Kimco Realty® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company's portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of June 30, 2025, the company owned interests in 566 U.S. shopping centers and mixed-use assets comprising 101 million square feet of gross leasable space.

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SOURCE Bozzuto

FAQ

What is The Chester at Westlake project by Kimco Realty (NYSE:KIM)?

The Chester at Westlake is a 214-unit mixed-use development in Daly City, featuring apartments, 13,000 SF of amenities, and 10,000 SF of retail space, scheduled to open in winter 2027.

How many residential units will The Chester at Westlake have?

The Chester at Westlake will feature 214 residential units, including studio, 1-, 2-, and 3-bedroom apartments, with 70% offering private balconies or terraces.

When will Kimco's Chester at Westlake development be completed?

The Chester at Westlake is scheduled to open in winter 2027.

What amenities will The Chester at Westlake offer?

The development will feature 13,000 SF of amenities including dual courtyards, a 24-hour fitness center, yoga room, co-working spaces, a rooftop sky lounge, and a hospitality-inspired lobby.

Where is The Chester at Westlake located?

The Chester at Westlake is located at 99 Southgate Avenue in Daly City, California, less than a mile from the Pacific Ocean, Interstate 280, and BART.