March 22, 2016
A 423-unit residential project, the largest to be constructed in Oakland during this cycle, broke ground in the city’s Broadway-Valdez district. Los Angeles-based CityView completed demolition of an auto dealership at 3093 Broadway, and the project is being backed by Blackstone Group.
Vertical construction of the seven-story project is expected to commence in the third quarter. 3093 Broadway’s budget was reportedly in the $150 million range, for a project expected to open in 2018.
Investment management and development firm CityView was founded by former U.S. Department of Housing and Urban Development chief Henry Cisneros, who is the company’s chairman.