Oakland's Construction Boom in Full Swing
Oakland's commercial and residential construction boom shows no signs of slowing down. The San Francisco Business Times reports that there are currently a total of 12 high-rise buildings slated for construction in Oakland! The two most recently proposed high-rise towers will result in a total of 334 new residential units and will be located at the intersection of 15th and Webster Street. This is just one of the latest residential construction projects to take make waves in Oakland.
On May 5th, it was reported that Lane Partners is in contract to make a fourth major commercial real estate purchase in Oakland. Their most well known purchase was that of the old Sears building which was recently sold to Uber, who will be moving their headquarters to this building sometime next year. Both residential and commercial real estate markets in Oakland are currently red hot. At this point it is clear that the city of Oakland is experiencing a real estate Renaissance of sorts, and as a result more and more people are choosing to make this their home before it's too late and the cost of living approaches that of nearby San Francisco!
Ary Assadi East Bay Modern Real Estate 415-216-5653 Ary@EastBayModern.com