EIR Published for Proposed 220-Unit Multifamily Project in Oakland

Oakland, BDE Architecture, The Martin Group, AMG & Associates, Grosvenor, Marcus & Millichap
Courtesy of BDE Architecture

By Jack Stubbs

The City of Oakland has a new project on the way. Earlier this month, the city published the Environmental Impact Report (EIR) for a proposed 220-unit multifamily project in the city’s Pill Hill neighborhood. The project is eligible for CEQA streamlining provisions, bringing it one step further along in the city’s formal review process. 

The applicant and developer for the project – located at 2929 Broadway – is The Martin Group and the architect is San Francisco-based firm BDE Architecture.

According to the CEQA Analysis submitted to the city, the residential undertaking– located on a nearly one-acre site on the northwest corner of Broadway and 29th Street – calls for the construction of a seven-story building with a floor area of approximately 222,823 square feet, including a ground floor parking garage. 

The ground floor would also include a residential lobby and lounge space, a fitness room, and an approximately 1,961 square-foot retail space. The proposed units would be a mix of studios, one- and two-bedroom apartments, and would also include 19,261 square feet of open space across two courtyards and a roof deck on the top floor. 

The proposed development is roughly one mile northeast of downtown Oakland and is also relatively near Interstate-580 and State Route 24. The project is also just under one mile from the 19th Street/Oakland BART station. 

The proposed development in Pill Hill is one of several that The Martin Group has pursued and completed in Oakland. Some of these include The Broadway, a 423-unit project in the Broadway Valdez District; the 79-unit Alice House; and Webster Eleven (completed in early 2021), which is a 333-unit project near the 12th Street BART station. 

There are also several other projects at various stages of development that will all contribute to a much-needed provision of housing – affordable and otherwise – in Oakland. In mid-May, AMG & Associates’ proposed 529-unit affordable housing development in Oakland’s Havenscourt neighborhood was advanced in the city’s review process. 

Also in mid-May, Grosvenor invested $12 million in two parcels in Oakland, located at 2600 and 2630 Telegraph Ave, with plans to deliver 225 homes to the site, some of which will be affordable. The provision of housing such as the two-parcel site indicate significant steps being made to bridge the gap when it comes to affordable housing in the East Bay.

“Grosvenor is excited about the opportunity to invest in Oakland and develop 225 new homes, including much-needed affordable housing. 2600 Telegraph is our most recent East Bay multifamily rental development following our 163-unit project at 1951 Shattuck in Berkeley, which is starting construction this quarter. We continue to believe in the long-term growth of the greater San Francisco Bay Area,” said senior vice president of development for Grosvenor Steve Buster at the time of the announcement. 

Indeed, recent market research suggests that Oakland’s multifamily market will continue to see healthy performance due to a multitude of factors in the year ahead. According to a second quarter multifamily market report published by Marcus & Millichap, in-migration and remote work trends are just a couple of factors contributing to healthy rental trends in Oakland, by several metrics the Bay Area’s tightest market. 

Oakland has the lowest average effective monthly rent in the Bay Area, while remote work patterns mean that more people have considered a move to the city. The metro recorded higher population growth since the end of 2014 than San Francisco and San Jose combined, the report notes. The demand created by newly relocated households produced a 170-basis-point decrease in vacancy last year, and availability is anticipated to continue to fall in 2022.

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