Panoramic Interests Plans to Bring 239 Units of Housing to Berkeley

San Francisco, Panoramic Interests, Berkeley, Regal UA Theatre, BART, Bay Area, 2274 Shattuck Avenue

By Jon Peterson

San Francisco-based Panoramic Interests could be adding another new development to the housing market in downtown Berkeley in the near future. The development firm has filed a preliminary development application with the City of Berkeley for a possible future development to be located at 2274 Shattuck Avenue, according to public information from the City of Berkeley.

The development site is the current home of the Regal UA Theatre in Berkeley. The redevelopment of this property into mostly housing would make it the last remaining movie theatre in downtown Berkeley, assuming it remains operational.

The proposed development will be 17 stories tall, and it would look to deliver 239 housing units and 1,500 square feet of commercial area. The development team is seeking a 50 percent density bonus of 80 units by providing 15 percent of the base project units as affordable to very low-income households totaling 24 VLI units. The residents in these units are projected to be making between 30 percent to 50 percent of the area’s medium income.

The City of Berkeley’s Land Use planning staff has reviewed the developer’s application and determined that the project meets the definition as a mixed-use development project where at least two-thirds of the square footage comprises residential uses.

The lot at 2274 Shattuck Avenue is 21,780 square feet, according to the Panoramic Interests’ website, and the estimated completion date for the project is January 2024. There has been no timetable set as to when the project would be started.

The ground floor commercial space of the project would total 1,500 square feet. There would be several shared amenities planned for the development, which would include a roof deck, secure biking storage, a laundry room on each floor and a café on the ground floor.

Berkeley-based Trachtenberg Architects is the architect of record working with Panoramic on the proposed development. The location of the development would make it a strong candidate for student housing given its proximity to the UC Berkeley campus, although the project’s application did not indicate possible future uses. The residents in the project would have a three-minute walk to the university campus. There is strong demand for this type of housing in Berkeley since the university has been steadily growing and unable to keep up with the demand of its students.

2274 Shattuck Avenue also has a strong location from a public transportation perspective. Residents in the project would have a one-minute walk to the downtown Berkeley BART station, which would allow them to move around the Bay Area without getting into a car.

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