From the large windows in Blake Hunt Ventures’ Walnut Creek office, they can see earth movers pushing dirt around against a backdrop of Mount Diablo. The view is picturesque for now, but soon a new Century Theatre will obstruct the scene.

The project, part of the $39 million Olympia Place development under construction in downtown Walnut Creek, is one of roughly $200 million plus worth of mixed-use projects Blake Hunt Ventures has in its stable. Not shabby for a relatively young company.

Brad Blake is the former CEO and Jerry Hunt is a former Senior Vice President of Western Properties Trust in Emeryville, a community shopping center real estate investment trust that was bought last November by the West Coast's largest shopping center REIT, Pan Pacific Retail Properties. Shortly after, Blake left and started up Blake Hunt Ventures, with his partner Jerry Hunt. "Development has always been our passion," said the East Bay entrepreneurs.

Blake Hunt Ventures plans to hold an equity stake in its deals, and also earns money through development, leasing and management fees. Some of its most noteworthy projects include the $45 million Plaza Escuela, right next to Olympia Place. BHV is developing the plaza on behalf of its owner, Bill Schlangen. Blake said BHV has the property 70 percent leased so far – with the anchor tenants being Andronico's and The Container Store.

Other merchants that have signed leases include Men's Wearhouse, the California State Automobile Association, Aaron Brothers, Starbucks and Buckhorn Grill. Cost Plus will co-anchor Olympia Place along with the theater. "These two projects will really enhance downtown Walnut Creek," said Blake.

"There's a niche for us," said Blake. He believes retail is in the midst of a real renaissance with the increasing demand for infill, suburban destinations. "As people become more time pressured," Blake said, they don't have the time to drive two hours, deal with the Bay Bridge and find parking, just for the San Francisco experience."

But it's not all about the retail – what's really key is finding the right mix of uses, said Hunt, which is why the company will also blend office and residential with its projects where appropriate. High-density housing is definitely on Blake Hunt Ventures' radar, as they predict more cities will seek development that goes up, instead of sprawling out.

The only issue that unnerves the partners is a major economic disaster. But the current slowdown in the office market hasn't battered retail real estate. All major national and regional retailers, said Blake, are still looking for Bay Area expansion opportunity because of the region's affluence, education levels and potential for job growth.