16-Story Residential Tower Proposed For Jack London Square

412 Madison Street, where a developer has proposed a 16-story tower. | Via Google 

By Will Kane - Published on August 07, 2017.

A Bay Area rental firm has proposed building a 294-unit tower three blocks from Lake Merritt BART.

The 16-story tower at 412 Madison Street would fit a pattern in Jack London Square of replacing industrial spaces—in this case a recycling center—with upscale market-rate rental units or condos. 

It could be many years before construction begins. The developers, San Mateo-based Essex and San Jose’s Swenson Builders, still need approval from Oakland planners. Architectural drawings were not yet available; the news was first reported by the San Francisco Business Times

"Oakland's proximity to San Francisco is highly desirable," Michael Schall, the CEO of Essex, told the Business Times. "Given the BART linkage ... owning in Oakland is a good thing.”

The proposal comes at a time when Oakland real estate is surging. In May and June, developers filed permits to build more than 900 units in Oakland, where the average rent for a one-bedroom apartment is now $2397.

Councilwoman Lynette Gibson Mcelhaney, who represents most of Jack London Square, told Hoodline that while she wasn’t familiar with Essex’s proposal, she hoped the developers would offer condo units that could be purchased, not rented.

Schall told the Business Times that his company hadn’t decided if they would rent or sell the units. 

"What concerns me right now is Oakland becoming so renter-heavy; a deep imbalance,” she said. "I think that speaks to a kind of instability over time. What happens to the character of a community over time where it's only about rental housing?”

About 10 hours ago

Oakland Zoo has a new CEO with a long track record of success

Oakland Zoo has a new CEO and he plans to connect with the community, reopen to full capacity, and increase programming. Read More

Apr 16, 2021

Oakland teachers break barriers with Ivy League admissions

Two Oakland teachers from Latinx backgrounds have been admitted to master's programs at Columbia University and Harvard University, and the charter school community where they've been working is singing their praises. Read More

Apr 15, 2021

Red Bay Coffee officially opens its modern public roastery and headquarters in East Oakland

Red Bay Coffee — the eco-conscious Oakland coffee roaster that will open a cafe inside the Ferry Building later this month — unveiled its new public roastery and headquarters this week at 3136 International Boulevard in Oakland. And it’s every bit as gorgeous as you can possibly imagine. Read More

Apr 09, 2021

New Latinx LGBTQ+ club Que Rico opens next week in downtown Oakland

A new nightclub catering to the LGBTQ+ Latinx community of the East Bay is debuting on Tuesday, April 13 — but for obvious reasons it's going to start out sort of low-key serving drinks and quesabirria tacos. Read More