March 6, 2017 Comments Off on $1.5B MPC Ready to Break Ground Views: 447 Bay Area, California News

$1.5B MPC Ready to Break Ground

Oakland, CA-based Signature Development Group plans to break ground in April 2017 on Brooklyn Basin, a $1.5-billion, mixed-use development on Oakland’s waterfront. The 65-acre project, the largest in the metro, is slated to include 3,100 residential units, 200,000 square feet of retail space, 32 acres of parks and trails and a 200-slip marina.

The Port of Oakland selected Signature Development as the master developer in 2001. The development team also includes Beijing-based Zarsion Holdings Group Co. Ltd. and UBS.

The site is adjacent to the Jack London Square District, historically the heart of the East Bay waterfront. Plans call for a 15-year build-out, spanning five phases. A majority of Brooklyn Basin’s proposed buildings are under eight stories, though several high-rise towers are planned to reach 20 to 24 stories.

The initial five-building phase includes Terrace Apartments, a 241-unit project expected to be completed by early 2019.

Read more at The Registry

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