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Sign in Sign up for a FREE subscriptionGrosvenor buys residential development site in Oakland, Calif.
Grosvenor has purchased 2600 Telegraph Ave. in Oakland, Calif., where it will begin construction in early 2023 to develop 225 rental homes and 6,000 square feet of specialty retail space.
Fifteen of the homes will be affordable for local residents earning incomes less than 50 percent area median income. The infill site is set within the amenity-rich KONO District (Koreatown Northgate) and is adjacent to Uptown, as well as near major transit options and downtown Oakland.
The fully entitled site, comprising two parcels totalling 39,492 square feet, is a continuation of Grosvenor’s strategy, as also reflected in its other East Bay rental project soon to be under construction at 1951 Shattuck in Berkeley, Calif.
“Our latest acquisition, 2600 Telegraph Avenue, supports our continued desire to develop sustainable for‐rent residential product in the San Francisco Bay Area — notably in Oakland, a vibrant, culturally diverse city,” said Steve Buster, Grosvenor
