Samuel Merritt University has secured a $139 million bond for constructing their proposed ten-story central campus at 525 12th Street in Downtown Oakland, Alameda County. Along with the bond, SMU is investing $120 million. The over quarter billion dollar investment keeps SMU on schedule for groundbreaking later this year, having received approval in November. Strada is the project developer.
Demolition work is nearly complete at 555 Bryant Street, making way for a new 16-story mixed-use infill in SoMa, San Francisco. The 0.75-acre site will soon be home to 501 apartments nearby a new MUNI Central Subway station and Caltrain. Strada Investment Group is the project developer.
New building permits have been filed for the 12-story office proposal at 490 Brannan Street in SoMa, San Francisco. The filing comes several months after the property was purchased by Trammell Crow from Strada Investment Group.
New plans have been presented to the SF Port to redevelop Piers 30 and 32 along the Embarcadero. The updated proposal reduces the space with a new focus on retail and recreation, including a market hall, kayak launch, and a more prominent floating pool barge. Strada Investment Group and Trammell Crow are responsible for the development.
The preliminary project application will be reviewed today with the San Bruno City Council. The 44-acre masterplan led by Alexandria Real Estate Equities will reshape the existing BART-connected mall with new retail, homes, and a life science campus. The plans have been able to move ahead since Alexandria purchased the final necessary parcel of land in February of this year. The total cost for the 44-acre San Mateo County campus was just under $330 million.
