Makeover at San Mateo's Versailles Condos Leads to Sales Jumps

Eight months after a San Francisco real estate firm acquired upscale senior living community Versailles Condominiums, the San Mateo facility has doubled its sales volume this spring.

One of the largest recently-built housing communities, Versailles Condominiums at 10 Crystal Springs Road has 61 homes, most of which are sold, for age 55-and-over independent-living adults, spokesman Ron Heckmann said.

The facility, purchased by Presidio Development Partners in December 2010, has five properties sold or closing and another three pending, due to Presidio’s 15-point improvement program, according to Heckmann.

Upon acquiring Versailles, the San Francisco company focused on improving security, services and programs, and the facilities in order to improve the quality of life at the facility.

The sales increase shows the condominium community is recovering from earlier uncertainties, Heckmann said.

“In acquiring Versailles, we also knew we needed to raise the bar even further with important service improvements and a package more customized to the Silicon Valley and Bay Area buyer, while also offering amenities that the residents wanted,” Presidio President Mark Conroe said in a statement.

“Versailles of San Mateo offers a well-located, active adult community that is perfect for people who want a great, low-maintenance home – not a retirement home or assisted living,” Conroe said.

“Its quality of design and above-market amenities appeal to the active-aging buyer on the Peninsula, and for families who are bringing parents to live close by,” he added.