A new update has been released for the eight-story residential development planned at 2600 Telegraph Avenue in Northgate-Waverly, Oakland. Real estate company Grosvenor has acquired the development. Furthering its investment in the East Bay, Grosvenor will add 225 rental residences, including affordable housing near public transit. The proposal will replace surface parking and a low-rise commercial structure with 225 residential units and ground-floor retail.
BAR Architects is responsible for the design.
The fully entitled site comprises two parcels totaling 39,492 square feet. The project will bring 225 rental homes and 6,000 square feet of specialty retail space. Fifteen of the homes will be affordable for residents earning incomes less than 50% AMI (Area’s Median Income). The infill site is set within the amenity-rich KONO District (Koreatown Northgate) and is adjacent to Uptown, as well as near major transit options and downtown Oakland.
Construction will begin in early 2023 to be fully completed by 2025. Consistent with Grosvenor’s ESG principles and its Net Zero Carbon Buildings Commitment, the project, comprised of all-electric units, will target net-zero operational carbon and will target Greenpoint Rated Silver certification. The project is a continuation of Grosvenor’s strategy as also reflected in its other East Bay rental project soon to be under construction at 1951 Shattuck in Berkeley.
Focused on high-quality urban residential properties in vibrant, walkable transit-oriented neighborhoods in the San Francisco Bay Area, Grosvenor has been responsible for developing several notable infill residential projects, including 288 Pacific in Jackson Square, Crescent on Nob Hill, and 1645 Pacific at the intersection of three famed neighborhoods – Nob Hill, Russian Hill and, Pacific Heights.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "Grosvenor Acquires Fully Entitled 2600 Telegraph Avenue In Kono District, Oakland"