One of Oakland's biggest residential projects has begun work. Built and designed by Signature Development Group, this new waterfront mixed-use redevelopment will focus on the Oakland Estuary, a 65 acre environmentally sustainable master-planned community called Brooklyn Basin. Adjacent to Jack London Square, Brooklyn Basin will feature over 3100 residential units, 30 acres of parks and public areas and over 200,000 ft.² of retail and commercial industrial space.
The infrastructure has already begun on one of the city's largest real estate projects costing over $1.5 billion. This is designed to transform the city's southern waterfront into one of the largest master-planned residential and commercial developments in the city. In addition to Signature Development Group, along with their Chinese financial partner, Zarsion Holdings, Brooklyn Basin have already begun the sewage, water and electrical systems.
The master-planned project will create new streets, turning Oaklands Embarcadero into a landscaped Parkway. The project will feature solar powered lights and a reclaimed water distribution system. The groundbreaking first phase will begin in the second quarter 2016 with roughly 300 units, occupancy scheduled for the into 2017. Developers are also working with network providers for fiber-optic network speeds of 1 GB per second for Internet savvy residents. There will be electric vehicle charging stations, single-family homes and apartment buildings and a wide variety of technology that many people are not seeing in the bay area in residential, master-planned communities. There will be a mixed use of rentals and single-family housing. The city of Oakland will control two parcels, including 465 affordable units out of the 3100 total properties.
In addition to the residential units, the developers are also working on designs for a waterfront park, which will include maritime artifacts and an industrial theme to the landscape architecture. There will be over 30 acres of parks open to the public creating a new waterfront landscape. Currently, the site is simply fields of grass with a view of downtown Oakland. An old Port of Oakland building will be partially preserved as an event space but everything else will be built from the ground up. This is one of the largest concentrations of new buildings that Oakland has seen in decades. The vision is to create a new neighborhood and development enhancing the waterfront and Oakland as a whole.
The lifestyle at Brooklyn Basin will be unique with urban coastal living, a marina with space for 200 boat slips, numerous public parks and open spaces including playgrounds, bocce ball courts and open air markets, two retail spaces including Main Street, with 75,000 ft.² of shops and Clinton Basin, featuring over 125,000 ft.² of waterfront retail space.
For more information on Brooklyn Basin, connecting the bay area like never before, feel free to give me a call. Currently there is no information on pre-sales but this will change as we head into 2016 so stay tuned to this blog for more updated information.
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