Mill Creek Residential Achieves Full Approvals for 243-Unit Multifamily Project in Fairfax, California

FAIRFAX, Calif. — May 14, 2026 — Mill Creek Residential has secured final entitlement approvals for a 243-home multifamily real estate development in Fairfax, California, the company announced Wednesday. The project advances into a market the company characterized as high-barrier-to-entry with limited new supply.

Achieving Full Approvals in a High-Barrier Market

"Achieving full approvals in a market as selective as Fairfax underscores our team's ability to navigate complex entitlement landscapes," said Mike Kim, senior managing director for Mill Creek Residential. "This community is specifically designed to meet the sophisticated demands of the Marin County and San Francisco workforce while providing our investors with exposure to a high-demand, low-vacancy environment currently benefiting from nation-leading rent growth."

Mill Creek Residential said it anticipates receiving building permits in late 2026, with construction slated to begin shortly thereafter. First move-ins are targeted for 2029.

Project Details and Resident Profile

The community will offer a mix of studio, one-, two-, and three-bedroom floor plans, alongside amenities designed to complement what Mill Creek described as the natural aesthetic and lifestyle of the North Bay. The firm said the project's proximity to major employment centers in San Francisco and the East Bay will provide a commuter-friendly option for future residents, who will also be surrounded by an abundance of dining, entertainment, and recreational options in the area.

Mill Creek Residential did not disclose a street address, total development cost, or financing details for the project.

Investor Rationale

Mill Creek Residential framed the Fairfax development as a strategic play on Marin County's structural housing undersupply and long-term appreciation potential.

"For investors, the Fairfax development represents a strategic expansion into a high-demand neighborhood," Kim said. "Marin County possesses a significant undersupply of modern housing, and we believe the community is well-positioned to drive strong returns and exceptional long-term appreciation."

Mill Creek Residential is a national developer, owner-operator, and investment manager focused on rental housing across the United States.

Sources

Mill Creek Residential — Press Release, May 14, 2026