Oakland’s Brooklyn Basin Project Pivots Rental Building to Condos

Signature Development Group said Tuesday that Caspian, launched as one of seven for-lease multifamily buildings completed thus far at the Brooklyn Basin redevelopment in Oakland, is pivoting into for-sale condominiums. This marks the first opportunity for homeownership at Brooklyn Basin. Led by Polaris Pacific, sales are now underway.

“Caspian being available for homeownership represents a defining milestone for Brooklyn Basin,” said Michael Ghielmetti, president, Signature Development Group. “Our vision for the neighborhood has always been to reflect the vibrancy and spirit of Oakland, and with Caspian, we are proud to give residents the chance to plant roots on the waterfront in one of the Bay Area’s premier condominium lifestyle buildings.”

A redevelopment of the Oakland Estuary, the $2-billion Brooklyn Basin project will ultimately total 3,700 residential units, 200,000 square feet of office and retail space and 30 acres of open space. The San Francisco Business Times reported that condo conversion at Caspian will take a couple of years to complete.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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