A press release from Kilroy Realty broke the news that 1800 Owens Street will be sold for $1.08 billion, breaking records as the second-highest price for a single property in San Francisco and the highest price per square foot in the city history at $1,440 per square foot. The property in question is a recently completed office complex in Mission Bay. Kilroy expects the deal to close at the end of March.
Construction is nearly topped out for one of Berkeley’s tallest buildings, a 168-foot hotel at 2129 Shattuck Avenue in Downtown Berkeley. Crews have begun installing the windows and exterior insulation, while the concrete core is still exposed in lieu of the curtain wall feature at the corner of Shattuck and Center Street. A rooftop canopy remains to be installed before the project can be described as topped out. The development was proposed by Center Street Partners LLC. Pyramid Hotel Group manages the project and will operate the hotel once complete under the Residence Inn by Marriott brand.
The City of Oakland has approved development permits for a new seven-story apartment building at 424 28th street in Pill Hill, Oakland. The project will include market-rate and low-income housing within walking distance of the city’s downtown. Three Steps Properties LLC is the project developer.
Anton DevCo is poised to receive approval for Parcel D’s Final Development Permit along the Oakland waterfront. The proposed residential building will rise at One Ninth Avenue. Parcel D is part of the twelve-building Brooklyn Basin development master plan that is transforming an industrial portion of Oakland’s waterfront adjacent to the Jack London district. Anton DevCo is responsible for the development after purchasing the rights to develop in 2019. Signature Development and Reynolds & Brown manage the 3,100-unit masterplan for Brooklyn Basin.
The San Francisco Examiner has reported that the SFMTA Board of Directors expects major infrastructure work to be completed by March 31st for the city’s new Central Subway Project. The project is a 1.7-mile extension of the Muni Metro light rail’s T Third Line, adding four new light rail stations from SoMa to Chinatown, three of which will be underground. The existing light rail system has seven lines stopping at 120 different locations. The Central Subway Project has been in the works since the Federal Transit Administration approved preliminary engineering in 2002. The four stations are expected to begin operation in the Spring of 2022.
