Cityview Raises Nearly $100M in OZ Capital for Oakland Waterfront
Cityview raised nearly $100 million in opportunity zone capital for its Oakland Waterfront project, a 378-unit multifamily development slated for completion in 2023. The eight-story community will feature a mix of studios and one-, two- and three-bedroom apartments with more than 80 percent of the units overlooking the waterfront. The construction of Oakland Waterfront is expected to commence this quarter and generate upwards of 2,000 jobs for the community.
Located in a qualified opportunity zone, the project is part of Brooklyn Basin, a 65-acre master-planned community on the Oakland Estuary approved for 3,100 units including affordable, market rate and active senior housing, 32 acres of parks, restored wetlands, a new marina and 200,000 square feet of retail.
“Oakland Waterfront is located just under two miles from downtown Oakland, one mile from Lake Merritt and adjacent to Jack London Square, making this an ideal location for those who enjoy premier suburban living adjacent to a major job core and all the benefits of an urban environment,” said Sean Burton, CEO of Cityview. “Located in a market that has historically experienced strong growth in population, employment, income and rent, this opportunity zone project will bring much-needed housing to this rapidly expanding vibrant center of the Bay Area.”
Cityview is partnering with general contractors James E. Roberts Obayashi and Webcor, architecture firm AC Martin and interior design firm Nadia Geller Designs on Oakland Waterfront.