The City of San Jose has assisted in purchasing a seven-story apartment complex at 787 The Alameda by Diridon Station. The city has committed to financing “not to exceed $100,000,000 of tax-exempt multifamily housing revenue bonds by the California Municipal Finance Authority” to allow Catalyst Impact Fund to purchase the building. Once complete, Catalyst will oversee converting 168 units into affordable housing.
Significant progress has been made on Modera Berkeley since YIMBY visited in March of last year. Facade installation on all four structures has finished in Downtown Berkeley, with the MacFarlane Building now open with its first retail tenant, Citibank, while leasing has been underway since early 2021. Florida-based Mill Creek is responsible for the 205-unit development.
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.
A previously approved high-rise building from 2019 at 2190 Shattuck Avenue in downtown Berkeley is undergoing design revisions. The approved project proposal includes the development of an 18-story apartment tower on a site that currently houses a Walgreens store. Mill Creek Residential is the project developer. WRNS Studio is the architect and is responsible for the design concepts.
Construction has topped out for the MacFarlane Building at 2111 University Avenue, one of four residential structures rising at the Modera Acheson Commons project in Downtown Berkeley. Each structure makes adaptive reuse of low-rise commercial sites to add 205 new apartments to the Berkeley housing market. Mill Creek Residential is sponsoring as the project applicant after acquiring the site from Equity Residential in 2016.
