Oakland on course to create more new housing units than SF in 2019

Builders in Oakland are on course to create more new housing units than San Francisco this year, a notable role reversal for a city that has long produced far less residential development than its wealthier and more bustling neighbor across the bay.

The deluge of apartments is leading — at least temporarily — to a renters’ market in Oakland. From the Broadway Valdez neighborhood to Lake Merritt, developers are jockeying to attract well-paid Millennials not only with amenities such as yoga studios, dog-washing facilities and swimming pools, but also with concessions including six weeks of free rent or a $1,000 signing bonus.

Currently, 9,304 total units are under construction in Oakland. During 2019 it is expected that more than 6,800 of these units will come online, with many having already opened. By contrast, San Francisco — which has more than twice the population of Oakland — is expected to produce 4,700 new housing units in 2019, according to the city’s respective planning departments.