California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Net Zero Multifamily Development Breaks Ground in Berkeley
Grosvenor has broken ground on 1951 Shattuck, a 163-unit, Class A apartment building just a block away from the UC Campus in Berkeley, CA. The 12-story mixed-use facility will bring emissions for landlord-controlled space to net zero by 2030.
Designed to GreenPoint Rated Gold Certification and in the pursuit of sustainable building design, Grosvenor removed all natural gas systems from the interior of the residences. The community will also include 5,000 square feet of retail and two floors of parking that will accommodate nine EV charging stations.
“As we deliver much-needed homes to an undersupplied market, we are also bringing an exterior design that will be a stunning addition to the downtown neighborhood, offering sweeping views and seamless access to multiple transportation nodes,” said Grosvenor’s Steve Buster.
J.P. Morgan provided a $90 million construction loan for the project. “We’re excited to be working with Grosvenor on their mission to create more rental housing opportunities for the Berkeley community,” said Alex Mast, Northwest Market Manager at J.P. Morgan.
Pictured: Rendering of 1951 Shattuck
- ◦Development
- ◦Financing
