Hi-Rise Housing returns to Oakland

The building would kickstart an effort by the city to increase density around Lake Merritt, one of Oakland's most-admired assets."We believe there's room in the market for some additional highrise product, and we think the lake is a spectacular amenity that people want to live near," said Michael Johnson, head of UrbanCore development. "This site provides great views of the lake, the hills and even San Francisco." 

The developers — Urbancore and Integral Development — have met with neighbors for the past year. The building site sits a block from the Kaiser Convention Center, which has sat vacant for years but could get new life in the coming years. 

Johnson added that he expects the Planning Commission to approve designs and entitle the site by January so that the developers can take over the site from the city by the summer and start construction next fall. The $130 million project would also include a 2,000-square-foot cafe and a public park adjacent to the property. Johnson said the group hopes to secure investors by the end of the year. 

The highrise boom comes as Oakland mayor-elect Libby Schaaf has signaled that she's ready to push for development fees in the city.

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