Bay Area/ Oakland/ Real Estate & Development
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Published on February 02, 2024
Oakland to Witness Skyline Transformation with Tidewater Capital's 670-Unit Residential DevelopmentsSource: Tidewater Capital

Oakland's skyline is poised for a shake-up with Tidewater Capital's green light to build two new multifamily communities, signaling an investment boost into the heart of the Bay Area. In a recent announcement, the real estate firm confirmed receiving final city approvals for a pair of residential projects to replace existing parking lots and interject a fresh wave of urban living options.

The developments – 533 Kirkham and 1431 Franklin – promise a combined total of 670 units, placed strategically within two miles of each other, as per information from Multi-Housing News. Breaking ground is slated for the next quarter, leading to an ambitious early 2026 completion target, in line with a California Environmental Quality Act analysis. Both ventures are eco-conscious, with Tidewater eyeing LEED Gold certifications for each site.

Speaking to the offerings at 1431 Franklin St., this tower will boast an array of studios to three-bedroom units stretched over its 35 stories. The LEED goal reflects a burgeoning eco-aware trend among developers. Moreover, a socially conscious slant earmarks 39 apartments for residents earning no more than half the area median income.

The Franklin project won't just cater to residential needs in the up-and-coming downtown scene. Below its dwellings, a planned four-level garage complements the transit-oriented development, which lies near an array of Oakland's eateries and shops, including the Pacific Renaissance Plaza. The location, less than 10 miles from the Oakland International Airport, hints at the premium on connectivity for future residents, according to details from Tidewater Capital's LinkedIn post.

Not to be overshadowed, the 533 Kirkham St. development in West Oakland marries convenience and boutique charm. The eight-story ensemble will serve its inhabitants with studios and two-bedroom offerings and aims to enrich the community through approximately 3,000 square feet of retail space at ground level. Affordable housing remains a cornerstone, with 13 units set for those at lower income thresholds.