Next Bay Properties is a continuation of Utal Development and Utal Properties. These wholly owned companies of the Utal family were primarily focused on land acquisition, development and construction. The business was started by Jay Utal in 1975.
These Utal companies acquired land and developed property in Florida, Texas and California. More than 360 single family homes, neighborhood shopping centers, restaurants, mini storage buildings, children’s daycare, professional offices and other commercial buildings have been developed and constructed by the Utal companies.
They have specialized in the preparation of land development acquisition pro-forma models. Experience grew out of the successful completion of numerous projects.
Beginning in 1990 NextBay began concentrating on the more complex land acquisition deals and Entitlements associated with "Infill properties" and "Community Re-Development". NextBay has, together with its partners, acquired the land, developed the property and constructed residential housing, children’s daycare, and both senior and affordable housing. Next Bay has developed and maintained strong relationships with most Bay Area city and county offices through the Entitlement of these properties.
Next Bay is extremely fortunate to have successfully completed all of its development projects over two years ago. It has been Next Bay's mission is to identify opportunities for under-utilized property for its acquisition and development through rezoning and re-entitling; and to identify the maximum potential for re-entitled use of property. The housing downturn will create buying opportunities in the future as inventory is used up, and NextBay is positioned well to take advantage of that. The need for housing in the Bay Area is great and Next Bay is dedicated to filling that need with quality projects. It has been established that the Bay Area is in a severe housing shortage and that less than 50% of the housing needs cannot be met for 2020. Therefore, a tremendous opportunity exists for experienced developers to fill that need.
Currently, NextBay is working on a 67 single family project in Martinez, California, “Wilshire Place”. We have assembled 25 acres of land from five (5) different sellers to accomplish this highly anticipated project. Also, there is a 33 acre project in Richmond in the planning stage.
Jay Utal is the managing member and President of Next Bay Properties, LLC. Jay is a third generation merchant builder with 40 years development and construction experience.