Dear Friends
April 2020

Appreciation to our frontline staff!

Dear Friends, As we near the end of our 4th week of Sheltering-in-Place in the Bay Area, I want to take a moment to shout-out to EBALDC’s essential workers.  Our on-site Property Management teams, and Resident, Youth and Financial Services teams, are on the front lines, and even more essential during these challenging times.   With 30 properties, our Property Management team has been hard at work to ensure that our residents live in a healthy and supportive environment: Two properties have 24-hour front desk clerks.  They have been critical to supporting... Read more
News
February 2019

EBALDC Seeks Qualified General Contractor for Frank G. Mar Rehab Project in Downtown Oakland; RFQ Response Due February 28, 2019

East Bay Asian Local Development Corporation is pleased to announce that we will be performing a re-syndication and rehab of our Frank G. Mar portfolio property located in Oakland Chinatown. Frank G Mar consists of 119 units of family housing that sits on top of approximately 11,400 square feet of commercial space and parking. We are requesting qualifications from experienced general contractors to join the team in providing quality pre-construction and construction services for the project. Responses to the RFQ are due February 28th, 2019 and all are welcome to apply.... Read more
Media
September 2018

BART to build 519 new homes at Lake Merritt

From Curbed
Last week, the BART Board of Directors voted to advance a plan to develop hundreds of new homes near the Lake Merritt BART station, a proposal that’s been in the works for years and continues the agency’s foray into transit-adjacent housing on potentially choice plots of land it owns throughout the Bay Area. Technically, the motion at the board’s September 13 meeting (which passed unanimously) only authorizes negotiations with potential developers, a process that could take up to two years. A press statement from BART provides some additional details:... View article
Media
September 2018

BART trading parking for housing, offices at Oakland’s Lake Merritt Station

From San Francisco Chronicle
With nary a word of opposition, BART has green-lighted a high-rise housing, office and retail development at its Lake Merritt Station that will probably completely transform the area around Oakland’s Laney College. “I’m on cloud nine,” BART Board President Robert Raburn said after the board voted 8-0 to enter into an exclusive negotiating agreement with the East Bay Asian Local Development Corp. and Strada Investment Group. The goal is a transit-oriented development that includes a plaza and a pair of apartment and office high-rises — one 27 stories and the other 21 stories.... View article
Media
September 2018

BART Board Approves Stronger Surveillance Oversight, Lake Merritt Housing

From CBS SF Bay Area
OAKLAND (CBS SF) – BART’s Board of Directors approved a new ordinance governing oversight of surveillance technology as well as a new transit-oriented residential and commercial real estate development near the Lake Merritt Station during a busy meeting Thursday morning in Oakland. The new surveillance rules, which were proposed as a policy, but passed through a unanimous vote as an ordinance, will require annual reports on the use of each specific surveillance technology the district uses.... View article
Media
September 2018

BART seeks to construct massive new mixed-use complex at Lake Merritt station

From Hoodline
BART is seeking to build a massive new housing, office and retail complex around its Lake Merritt station in Oakland. This week, the transit agency’s Board of Directors approved an exclusive negotiating agreement with two developers to construct four new buildings on BART-owned lots above the station. As proposed, the buildings would include 519 units of housing — 44 percent of them designated as affordable — and 517,000 square feet of office and retail space. 20 percent of the office and retail space would be offered at below-market-rate prices for “community-serving organizations and... View article
Media
September 2018

Bart Board Approves Surveillance Ordinance, Development At Lake Merritt

From SF Gate
OAKLAND (BCN) BART’s Board of Directors approved a new ordinance governing oversight of surveillance technology as well as a new transit-oriented residential and commercial real estate development near the Lake Merritt Station during a busy meeting this morning in Oakland. The new surveillance rules, which were proposed as a policy, but passed through a unanimous vote as an ordinance, will require annual reports on the use of each specific surveillance technology the district uses.... View article
Media
May 2018

CIT Provides $107M to JV for Oakland Mixed-Use Project

From Commercial Observer
CIT Group provided a $107 million construction loan to a joint venture between a Brookfield Property Partners-sponsored private real estate fund and The Martin Group to fund the development of a planned mixed-use residential project in downtown Oakland, Calif., the bank announced yesterday. The senior secured construction loan funds Station on 12th, a planned, seven-story mixed-use and residential project at 301 12th Street that features 333 market-rate apartment units and 23,570 square feet of ground-level retail space. Additional financing details were not disclosed.... View article