How Does California CRE Match Up Against the Rest of the Nation?
We all know that Bay Area housing is in very high demand due to the lack of availability in the area. The Oakland market might take care of that problem.
There are currently just over 5,100 approved new housing units in the pipeline with about 1,500 under construction. Meanwhile, almost 10,000 new units are in the pipeline in the city being proposed by developers, according to a recent JLL report that has market coverage around the country. Lampwork Lofts is one of the most recent major projects completed.
While all of this is taking place in the area, Oakland also has a booming entertainment and restaurant scene, making it attractive for Bay Area residents that are priced out of San Francisco.