Stuart Gruendl, founding partner
of Emeryville-based BayRock Residential, said he expects strong
interest for his Asian American-targeted condo high-rise on
the edge of Oakland's Chinatown.
That's despite its location across from a city jail.
A jail is safer than most parts of the city, he explains.
Besides, the location, on Broadway next to Interstate 880,
has great feng shui.
"The freeway offramp represents positive energy,"
he said.
SNK Development's Franklin 88, which had its grand opening
in Chinatown earlier this month, attracted 1,000 people to
its waiting list, with no significant advance publicity. And
Gruendl is an SNK veteran who hopes his project can break
ground this coming spring.
Litigation station
Architectural firm Richard Avelar & Associates expanded
into 11,000 square feet at Terranomics LLC's 318 Harrison
Street in Oakland's Jack London Square district.
Terranomics, headed by Mark Seiler and retail pioneer Merritt
Sher, has been expanding its office presence in Jack London
Square slowly, amassing 350,000 square feet across 12 buildings
over the past 15 years, primarily by renting to small up and
coming firms in creative and professional fields like law
and architecture.
The five-year deal means more space for the company, which
investigates construction defects and provides advice on construction,
litigation and repair.
Marc Ward of BT Commercial's Oakland
office represented both sides in the transaction.
Suit extended
The City of Oakland brought 12 new causes of action against
Pacific Renaissance Plaza in Oakland's Chinatown, including
fraud in connection with a $7 million loan.
The new charges add to an effort by the city to reclaim a
$16 million loan, alleging that Pacific Renaissance disguised
a refinancing of the center as a sale. The city originally
brought suit against the center's developers in June 2003
for allegedly violating agreements with the city to maintain
low-income housing units, and for overcharging tenants
###
|
