Multifamily real estate specialist joins the team in Oakland
NAI Northern California is pleased to announce that John Caronna has joined as Vice President in Oakland to focus on multifamily real estate. John’s combined experience as a multi-unit real estate specialist, property owner and manager makes the transactions stress free for his clients.
Tim Warren recognized with CoStar Power Broker Award as a Top Sales Broker for the East Bay/Oakland
The CoStar Power Broker Award winners for 2018 were recently announced, and one of NAI Northern California’s top producers, Tim Warren, was named a Top Sales Broker for his work in the East Bay/Oakland market.
As a commercial real estate services company, NAI Northern California was also recognized as a Top Sales Firm in both San Francisco and the East Bay/Oakland markets.
Warriors won’t practice in Oakland next season but will leave downtown facility in hands of youth programs.
The Golden State Warriors announced Monday they won’t stick around to practice in their downtown Oakland basketball facility next season as they make their move to the under-construction Chase Center in San Francisco’s Mission Bay neighborhood a complete one. But that doesn’t mean the Warriors are totally abandoning the city that’s been their physical home — if not their namesake — for almost half a century.
When it comes to the future of Oakland, a good amount of the development that will change the city has one thing in common: the transit station nearby.
Bay Area Rapid Transit has committed to an ambitious plan to build mixed-use transit-oriented developments around its stations throughout the Bay Area, and a number of those projects will be in Oakland.
Already, the transit authority has started to transform land around MacArthur Station in the northern part of the city as well as Fruitvale Station to the southeast. Construction is underway on Coliseum Transit Village from UrbanCore Development and Oakland Economic Development Corp.
Future plans call for continued development on those sites and projects to go up around downtown BART stations.
BART’s transit-oriented development policy states that the agency will only move forward with future developments in cities that have adopted station area plans, and Oakland has been at the forefront, BART’s Sean Brooks said. Brooks, the department manager of real estate and property development for BART, will speak about TODs at Bisnow’s The Evolution of Downtown Oakland March 13.
Projects already underway have required upzoning, and the city also has been progressive about parking requirements, Brooks said.
“The city has kind of bent over backwards to help and advance some of these projects,” he said.
Case in point: the planned development for West Oakland, which got through the planning commission in record time, he said. The project was helped along in no small part because of the affordable housing it is bringing to the city.
Plans for a new Oakland A’s ballpark at Howard Terminal at the Port of Oakland have run into opposition that could throw up roadblocks for the project.
Last week, a coalition that includes Save The Bay sent a letter to the state legislature listing concerns from environmental, business and labor organizations about the stadium project.
In the letter, Save The Bay Executive Director David Lewis said East Bay lawmakers are considering introducing a bill that could fast-track the project through regulatory exemptions. That would lessen the project’s accountability to environmental laws designed to protect public health, public lands and vulnerable wildlife.
The coalition said it is opposed to any measures that would reduce San Francisco Bay Conservation and Development Commission oversight for the project, remove State Lands Commission-enacted public trust protections, undercut hazardous materials restrictions or seek a way around California Environmental Quality Act obligations for the project.
The A’s said they had no plans to ask state lawmakers to fast-track the process, the San Francisco Chronicle reports.
Save The Bay is not the only one arguing against the plans for the stadium.
The bar pilots association said the lights from the stadium will be blinding for those navigating container ships to the port, and those ships could hit kayakers going after stray balls, the San Francisco Chronicle reports.
The Pacific Merchant Shipping Association, which represents some of the port’s tenants, said the hotel and housing included in the plan would increase traffic and compete with trucks around the port.
Oakland has suffered the loss of sports teams, including the Golden State Warriors, who are slated to be in their new Chase Center in San Francisco for the 2019-2020 season, and the Raiders, who are moving to Las Vegas and still haven’t settled on where they will play next season before that move.
Square’s expansion into Uptown Station underscores what fintech entrepreneurs have been saying for some time: Oakland is hot and only getting hotter.
Square’s new lease taking all of Oakland’s Uptown Station signals the growing popularity of the East Bay’s largest city for fintechs and other startups.
Fintech entrepreneurs say Square moving into the city in such a big way — the payments company plans to start moving in about 2,000 employees beginning later this year — means a lot more energy and talent will be drawn into Oakland.
Square’s move represents a tripling of Oakland’s fintech workforce, which the city estimates to be just under 1,000 people.
“We have a small but growing tech sector in Oakland,” said Marisa Raya, economic development specialist for the city of Oakland.
The A’s unveiled plans for a gondola to run from BART to their proposed Howard Terminal site, including a tower above Washington Street.
London, New York, Portland, Ore., and Mexico City are among the urban centers making good use of gondolas, a transportation trend popping up worldwide, and A’s President Dave Kaval sees his team fitting right into that niche.
Kaval has mentioned the potential for a gondola to ferry fans from BART to the team’s proposed stadium at Howard Terminal, just north of Jack London Square, and Saturday morning he unveiled artist renderings and a video simulation of the project.
The gondola would ferry about 6,000 people per hour; cabs with a capacity of 30-35 would make a three-minute trip of less than a mile along Washington Street in Oakland, linking the BART station at 12th and Washington to Jack London Square. The gondola would transport an estimated 1 million people per year, Kaval said.
“Too many children go to bed at night without seeing parents who are stuck in crippling commutes.”
On Thursday, San Jose Mayor Sam Liccardo endorsed SB 50, the proposed new law that aims to create more dense housing near major transit lines in California, as did the mayor of Stockton, Michael Tubbs.
Introduced in December, the bill, written by SF-based State Sen. Scott Wiener, is a follow-up to the very similar but unsuccessful SB 827.
According to Wiener’s office, the bill “eliminates hyper-low-density zoning near transit and job centers.”
The text of the proposed law specifies that it applies to “sites within one-half mile of fixed rail and one-quarter mile of high-frequency bus stops and in job-rich areas.”
On Thursday, Liccardo praised the proposal as a potential antidote to long commutes.
“Too many children go to bed at night without seeing parents who are stuck in crippling commutes,” Liccardo said in an emailed statement.
The mayor predicts that “SB 50 will spur more affordable housing near transit and job centers so that people can live close to where they work.”
Stockton Mayor Michael Tubbs endorsed the measure this week too, promoting it as a way to encourage more housing and keep prices down.
“As we force individuals to pay more for their rent, we also push them into poverty,” said Tubbs. “This is a policy failure that we must address.”
San Francisco Mayor London Breed, Oakland Mayor Libby Schaaf, and the mayors of Sacramento and Los Angeles are also among those who endorsed the measure or “made positive statements regarding the direction of the bill” previously, according to Wiener’s office.
City Council will vote next month whether to allow rent control for owner-occupied duplexes and triplexes.
An exemption to the city’s rent control and tenant protection laws for owner-occupied duplexes and triplexes could get scrapped this year.
Currently, landlords who live in duplexes and triplexes and rent out the other units are exempt from rent control, as well as the tenant protection ordinance, which provides a procedure for tenants or the city attorney to sue landlords who harass them or fail to maintain the building.
Last week, city council members Dan Kalb and Noel Gallo introduced an ordinance that would remove the exemption. The ordinance will be presented at the Jan. 29 Community and Economic Development Committee, and the City Council is scheduled to vote on it the following Tuesday.
“The key here is we’re trying to make all of our rent laws consistent with each other and cover the same types of units,” Kalb said in an interview. “This is an effort to conform with Measure Y that was passed by voters last year.”
Measure Y removed the exemption from Oakland’s Just Cause for Eviction Ordinance for owner-occupied duplexes and triplexes. That ordinance prohibits landlords from evicting tenants without a legitimate reason.
When proposing the ballot measure, Kalb and Gallo noted that if it passed, they intended to introduce a parallel ordinance to remove the exemptions from rent control and tenant protection laws for owner-occupied duplexes and triplexes.
Kalb said he looked at other cities’ rent control laws and found that some had the exemption and some didn’t.
The ordinance is among the first tenants’ rights ordinances to be voted on by Oakland’s new City Council — three of the eight incumbent council members have been replaced. The new council members are Nikki Fortunato Bas, who represents District 2; Loren Taylor, who represents District 6; and Sheng Thao, who represents District 4.
California lawmakers are exploring new ways to limit skyrocketing rents.
Crooning in the shower is not Chad Regeczi’s thing.
That’s why when he learned last year his monthly rent would go up $300 so the new owners of his La Mesa apartment in San Diego County could upgrade his bathroom with a sound system, he was bemused.
“300 bucks!” he said. “I mean an iPod costs less than that. Everybody has got a phone now. Who needs a Bluetooth speaker in a bathroom apartment? It’s just weird.”
Regeczi, a VA employee, said the 30 percent rent increase didn’t match the condition of his apartment. But he felt powerless to challenge his landlords on the hike.
“Who’s gonna tell them no?” he asked. “There are no rules to how much your rent can go up.”
That may change. Talk is underway about putting a law on the books that would bar California landlords from raising rent beyond a certain percentage.
Oakland Mayor Libby Schaaf said in November the rule would mimic limits on what businesses can charge during natural disasters.
“When there’s a fire, you pass an anti-rent gouging ordinance,” Schaaf said. “The state has a fire. It’s called the housing crisis.”
Rents are surging in some California cities where there is no rent control by double, even triple digits, according to mayors and tenants rights advocates.
And more than half of the state’s renters pay more than a third of their income on housing, according to the California Budget & Policy Center. And a third of renters spend more than half of their paycheck on a place to live. The real estate firm Zillow reported last month that communities where people pay more than a third of their salary on rent, see a faster rise in homelessness.