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Uber sells Uptown Station HQ to Oakland firm

Uber announced in August that it was putting Uptown Station—the new mixed-use development right downtown in the onetime Sears building on Broadway that only recently shed the white plastic cocoon that enshrouded it during rehab—up for sale without ever moving a single employee into its planned headquarters.

But it didn’t take long for an interested buyer to start making eyes at the circa 1929 Beaux-Arts building.

Back in October, the San Francisco Business Times reported that the Oakland-base investment firm CIM Group planned to buy the whole 356,000-square-foot building for $175 million.

As Tuesday morning, CIM announced the sale via press release. The announcement doesn’t include the sale price, and spokesperson Karen Diehl tells Curbed SF “CIM never discusses financial arrangements.”

Uber previous paid $123.5 million for the place, putting millions more into the rehab.

Read more from Curbed SF

Oakland City Council: Tenant Relocation Assistance Delayed, But Moratorium on Rent Control Loophole Passes

Extra assistance for renters who are displaced through no-fault evictions failed to pass a second reading at the Oakland City Council last night after Councilmember Annie Campbell Washington had the legislation pulled from the agenda’s consent portion of the calendar and scheduled for a future council meeting’s non-consent portion, where it will likely be debated and amended.

The tenant assistance bill, authored by Councilmember Rebecca Kaplan, would extend cash payments — between $6,500 and $9,875, depending on the size of the rental unit — to renters displaced through no-fault owner move-in evictions and condominium conversions. Renters with children, or those who are elderly, disabled, or low-income would be eligible for additional assistance.

Read more from East Bay Express

BART, Concord eye vacant site for affordable housing

BART may partner with the city to bring much-needed affordable rental housing to a vacant property a few blocks from the downtown station.

The transit agency owns a 9-acre parcel between Monument Boulevard and San Miguel Road that sits just south of the Concord skate park. Although a canal runs through the property, city staffers believe at least part of it could be developed.

BART works with local communities to develop high-density housing at its stations. Such mixed-use developments are under construction at the Walnut Creek, MacArthur and Coliseum stations, however the Concord project would be the first built on an off-site BART property, according to spokesman Jim Allison.

Read more from East Bay Times

Can your spare bedroom help solve Oakland’s homelessness crisis?

OAKLAND — For everyone who has ever passed one of this city’s sprawling homeless encampments and wondered how to help, Mayor Libby Schaaf has an answer — open your door to someone in need of shelter.

The Oakland mayor is asking residents to offer their spare rooms, Airbnb units and rental properties to the city’s homeless, a radical proposition that has prompted both cautious optimism and scathing criticism from her constituents. Some landlords worry taking in down-on-their-luck tenants could backfire, and skeptical homeless advocates say this Band-Aid of a solution doesn’t solve the larger problem. But others, watching Oakland’s homelessness crisis grow to devastating proportions, say now is the time for outside-the-box thinking.

Read more from East Bay Times

Lafayette settles rent question, for now

A proposal to allow tenants of large apartment buildings to appeal rent increases greater than 10 percent fell one vote short.

The decision rested with Mayor Mike Anderson and council members Don Tatzin and Cameron Burks because colleagues Mark Mitchell, who owns a rental house in Lafayette, and Ivor Samson, who is indirectly tied to a firm that owns rental property in the city, had recused themselves.

Read more from the East Bay Times

Alameda may hire firm in bid to attract tech companies to former base

ALAMEDA — Buildings that once housed U.S. Navy sailors could be transformed into a campus for a technology company under a city proposal.

Known as the Bachelor Enlisted Quarters (BEQ), the buildings are on 21 acres and have been mostly vacant since the Alameda Naval Air Station closed more than 20 years ago. Efforts to use them for civilian housing have long stalled.

Now city officials are hoping the buildings, which also have been routinely vandalized, can be turned into places where a tech company may want to locate, especially since the large aircraft hangars at the former base are already leased.

Read more from East Bay Times

Oakland rent control loophole temporarily closed

OAKLAND — For the next six months, Oakland landlords won’t be able to raise rents on properties under rent control after making repairs to them.

Oakland and San Francisco are the only two cities in the state which have “substantial rehabilitation exemptions” to rent stabilization ordinances, according to the report supporting the moratorium proposed by City Council members Dan Kalb and Rebecca Kaplan. Council members voted Tuesday to impose the moratorium on granting the exemptions.

Read more from East Bay Times

Uber Might Make More Money This Year Selling Real Estate in Oakland Than Actually Selling Rides

Uber looks like it’s on track to make more money selling a building it owns in Oakland, California, than it has selling rides over the last 10 months. In 2015, Uber bought the old Sears building in downtown Oakland with the intention of moving 3,000 of its employees to an expanded headquarters in the smaller, less–filthy-rich city just across the Bay from San Francisco, which the company currently calls home.

That never happened. And now Uber is selling its 380,000-square foot building to the CIM Group, a Los Angeles–based real estate investment firm, for $220 million, according to a report from the Registry, a website that covers Bay Area real estate deals. Uber bought the building in 2015 for $123.5 million, but after never moving in as planned, the company announced in August that it was considering putting the building up for sale.

Read more from Slate

CIM Group in contract to buy Uber’s Oakland building

CIM Group is in contract to buy Uber Technologies Inc.’s Oakland building, according to three sources familiar with the property.

CIM, already one of Oakland’s biggest landlords, agreed to pay $175 million for the 380,000-square-foot Uptown Station property, said a source. CIM will have to invest an additional $50 million in construction costs to complete the renovation project, said the source. The deal hasn’t closed, sources said.

Read more from San Francisco Business Times

 

More developers submit residential proposals in El Cerrito

More developers appear to be hungry to cash-in on the demand for apartments and condominiums near public transit on currently underused land in the city.

Three builders have submitted plans for three apartment complexes and an addition to an existing complex, that would add 248 units to the 596 apartments and condominiums that are being proposed or have been already approved.

Read more from East Bay Times