CIM Group and Strada Investment Group announced earlier this week that construction is over for the 16-story residential building at 1150 Clay Street in Downtown Oakland. Residential move-ins will begin imminently, adding 288 new apartments to the market.
The 155-foot structure yields 270,550 square feet, including 4,000 square feet for ground-floor retail with 20-foot ceilings and an available outdoor patio. Nearly ten percent of the units are affordable housing. Residencies will range in size from studios to three-bed, with a total of 375 bedrooms. Apartments will come fitted with appliances. Additional amenities can be found across the building. These include a large rooftop deck with fire pits and a dining area, a fitness center, a residential coffee bar, a conference room, a work area, and bicycle storage.
“CIM is helping to serve the needs for new housing with the completion of Eleven Fifty Clay Street, located in a transforming neighborhood near transportation,” said Avi Shemesh, Co-Founder, and Principal, CIM Group. “In Oakland, we are also nearing completion of an apartment community at Jack London Square, adding 333 residences to the mixed-use environment where residents can enjoy the restaurant and entertainment, and retail offerings, as well as the open park space, fronting San Francisco Bay.”
1150 Clay Street rooftop terrace, design by Kennerly Architecture
Kennerly Architecture will be responsible for the design. The building has an articulated facade. Two volumes will be defined by white and black metal panels, with yellow accents on the former. The building will be a sizable addition to an undeveloped corner of the city.
1150 Clay is along the central Clay Street thoroughfare, between 11th and 12 Street. The city’s 12th Street BART station is just around the corner from the parcel.
1150 Clay Street facade, design by Kennerly Architecture
The parcel has been the target of development since permits were first filed for a 200-unit building with 836 off-site parking spaces by the Shorenstein Company in 1999.
The building topped out in September of 2019. The development was estimated to cost $44.5 million for completion.
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