Oakland Real Estate Resurgence
By DANIEL BORNSTEIN, ESQ.
As heavy consumers of Oakland real estate news, we at Bornstein Law are encouraged to see an underdeveloped parcel start coming to fruition.
Our excitement began in September of 2015, when the City Council approved the sale of the parcel at 1100 Clay Street, to Strada Investment Group. The developer was tasked with one of the most ambitious residential projects Oakland – erecting a 15-story, 230,208 square-foot project in the heart of downtown.
This breakthrough residential building would occupy one of the last unbuilt public parcels in Oakland’s City Center District. Close by, office development sites were approved, but no shovels went in the ground due to high construction costs and lack of tenants. With rising rents, however, residential construction has become more viable in Oakland.
The Strada development is phase one of a larger project, coined “T5/6”, which was conceived nearly two decades ago and envisions the construction of an adjacent 13,000-square foot public plaza and a complimenting building that can house an office building, hotel or residential structure.
We were pleased to learn that Strada Investment Group has not only secured financing for the project, but is seeking permission to up the number of units to 288. Take a look at what the finished project will look like here.
This breakthrough is only one testament to the City’s formidability. Oakland continues to operate and act as if it intends to be an emerging force throughout Norther California.
With growth and progress, there will inevitably be questions and disputes, but you can rely on the steady hand of the Oakland real estate attorneys at Bornstein Law.
As the founding attorney of Bornstein Law, Broker of Record for Bay Property Group and expert witness, Daniel Bornstein is a foremost and well-respected expert in landlord-tenant disputes and other property management issues with over 23 years of experience in handling real estate and civil litigation related disputes.
CONTACT BORNSTEIN LAW
415 409 7611
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