Grosvenor Acquires Oakland Development Site, Will Build Multi-Use Complex
Privately owned property group Grosvenor has announced the acquisition of 2600 Telegraph Avenue in the KONO district of Oakland, CA. The firm will break ground on the site in early 2023, developing 225 rental homes and 6,000 square feet of retail space.
The multi-use project will be comprised of all-electric units, targeting net zero operational carbon and Greenpoint Rated Silver certification. In addition, 15 of the homes will be reserved for local residents earning incomes less than 50% of the area median income.
2600 Telegraph is situated within the amenity-rich Koreatown Northgate (KONO) district and is adjacent to Uptown as well as near major transit options and downtown Oakland.
“Our latest acquisition on 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 Grosvenor’s Steve Buster.