OAKLAND — CIM Group has begun construction of a residential tower at Jack London Square in downtown Oakland that will add hundreds of housing units to the Bay Area within two years.
The eight-story housing development would include 333 residential units and ground-floor retail.
The project is located near the corner of Harrison Street and Embarcadero West in Oakland, and is part of the Jack London Square restaurant, retail and entertainment complex perched on the East Bay waterfront.
The retail in the 40 Harrison Street residential development is expected to total 2,400 square feet.
“The apartment building’s architectural design takes full advantage of its waterfront location,” CIM Group said in a prepared release.
Chief among the residential features are a glass facade, balconies and landscaped courtyards.
“The building will offer on-site amenities including communal gathering spots, outdoor terraces and lounges, fitness center, and a bike storage and care facility,” CIM stated.
The residences will include a quartet of floor plans: studios, one bedroom, two bedrooms and three bedrooms.
Development is expected to be complete by late 2020.
In 2016, CIM Group bought seven buildings and other properties in Jack London Square. CIM’s holdings in the complex include three office buildings, ground-floor and second-floor retail spaces, three retail buildings, a parking structure and three land parcels, including the site for the new apartments.
Among CIM’s recent leases in Jack London Square: offices for the Oakland Athletics baseball team, Tartine Bakery’s Coffee Manufactory, Grocery Cafe, Oaklandish and Belcampo restaurant.
CIM in 2008 bought a portfolio of Oakland office buildings totaling 1.7 million square feet in the City Center and Lake Merritt districts.
“Most recently CIM acquired Uptown Station, a redevelopment of a former department store to a 355,000 square-foot office building, with ground floor retail located in the Uptown district of downtown Oakland,” CIM said. Earlier this month, CIM bought 1100 Clay Street, a development parcel where CIM is building a 16-story, 288-unit apartment complex.
Oakland apartments get underway in Jack London Square