An Oakland developer is planning to build a residential-commercial complex that includes affordable housing units and could be ready to welcome its first residents at the end of 2019.
The proposed 3300 Broadway complex is located within the city’s Broadway-Valdez District Specific Plan area and is expected to cost more than $16 million, said California Capital & Investment Group Vice President Mark McClure. The proposal is now in a public comment period.
“A public notice for the project just went out on December 1 for interested parties to comment. There is a 17-day comment period,” said Maurice Brenyah-Addow, a planner with Oakland’s Planning and Building Department, via email. He added that Oakland city staff will also be meeting with interested parties to discuss the project.
According to McClure, groundbreaking on the project could occur in the second quarter of 2018.
CCIG, a a full service commercial real estate company specializing in commercial brokerage, management, investments and advisory led by veteran Oakland office developer Phil Tagami, has partnered with MKSI Investments for the project, located on a 16,960-square-foot site. The project applicant is Broadway Investors, LLC, while YHLA Architects is the project’s designated architect.
“It’s the consensus that Oakland needs more housing, and, in particular, Oakland needs as much affordable housing as possible,” said McClure, who added that 10 percent of the 45 residential rental units that are proposed will be priced in the affordable range, making them suitable for renters earning up to 80 percent of the area median income.
All told, the Broadway-Valdez area is designated to include approximately 3.7 million square feet of development, including approximately 695,000 square feet of office space, 1.1 million square feet of restaurant and retail space, 1,800 residential units, a new 180-room hotel and 6,500 parking spaces. According to documents filed with the city, the development is also projected to bring 4,500 new jobs.
“The city went through four Specific Plans with their planning vision of the city,” said McClure about the surge of construction happening in Broadway-Valdez as buildings including former auto dealerships are being transformed in residences and retail developments by a variety of groups. Said McClure: “This is where the city wanted to encourage people to build.”
The 3300 Broadway project is located near other existing residential projects and the Kaiser Permanente and Alta Bates medical centers and is across the street from CityView and a 423-unit project backed by the Blackstone Group that is under construction at 3093 Broadway.
To make room for the proposed 3300 Broadway project, an auto detailing business, an auto repair shop and a vacant retail space now located in a one-story, 15,900-square-foot structure will be demolished.
That structure would be replaced with a five-story, 65,000-square-foot 3300 Broadway building, which is expected to reach up to 55 feet in height.
The residential portion of the proposed project would cover 39,133 square feet, along with approximately 2,824 square feet of ground floor commercial space along Broadway, according to development plans filed with the city last month. Parking for 46 vehicles on the interior of the ground floor is also proposed, using stacking devices. The proposal also includes approximately 40 bicycle parking spaces.
The project site is bounded by Broadway to the west, Piedmont Avenue the north, Richmond Boulevard to the east and Brook Street to the south.
Several transit routes serve the project site, including Alameda-Contra Costa County Transit District, while the MacArthur Bay Area Rapid Transit District (BART) station is approximately a half-mile northwest of the site, and the 19th Street BART station is approximately one mile south.
CCIG owns and manages more than 1 million square feet of East Bay commercial space and handles development, property management and general contracting. CCIG’s completed work includes the rehabilitation of national historic landmarks including the Fox Theater and the Rotunda Building.