Construction is wrapping up for Modera Lake Merritt, a new rental apartment complex at 1940 Webster Street in Downtown Oakland. The project is opening with 173 new rental units, ranging between studios and two-bedroom homes, with prices starting over $2,500 per month. Mill Creek Places is responsible for the development and leasing.
1940 Webster Street, image by Andrew Campbell Nelson
The 85-foot tall structure rises from a 25,500 square foot lot, with 159,800 square feet for residential use, 2,000 square feet of commercial retail at ground level, and parking for over a hundred vehicles. Parking will also be included for 77 bicycles. Of the 173 units, there will be 48 studios, 103 one-bedrooms, and 22 two-bedrooms.
WRNS Studio is responsible for the design. WRNS is a national design firm based in San Francisco, with additional offices in New York, Seattle, and Hawaii. Their design for 1940 Webster is for a typical residential infill guided by local design guidelines, articulating two forms of contrasting color, punctuated by private balconies, above a curtain-wall base.
1940 Webster Street facade close up, image by Andrew Campbell Nelson
Residents will have access to the rooftop deck with fire pits and grills accompanied by views of the city’s skyline. There will also be an onsite fitness center. The property is also just one block away from Lake Merritt trails and the park, an expansive outdoor area straddling the lake in the heart of the city.
Apartments prices range from $2,540 for a 519 square foot studio up to $3,636 per month for a two-bedroom unit with over a thousand square feet. Mill Creek is also offering a three-month rent-free package for select units.
The project website suggests move-ins are expected to start by late March of this year.
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$2,540 for a 519 square foot studio? Yowza.
I like the look though. Good use of balconies, which is something a lot of SF-Oakland buildings either get wrong or leave out altogether.