Public Market Updates: New Seasons Market Opening Delayed, Office Tower Sold
Emeryville Public Market developer City Center Realty Partners has provided us an update on the ongoing construction for their 14.5 acre redevelopment project. Updates include construction progress, the sale of their office tower, and a new timeline on the opening of the highly anticipated New Seasons Market.
New Seasons Opening Delayed Until 2018
You’ve probably noticed that the realignment of Shellmound Street is progressing. CCRP anticipates it, along with 62nd and 63rd Streets, to be fully open for regular use before Christmas.
Unfortunately they explained, portions of the development experienced delays. These delays have pushed the tentative opening of the New Seasons Market back to next year. CCRP notes that a new date will be announced as soon as it is available. The New Seasons website is not specific about the timeline and only states “Opening 2018!”.
CCRP did not specifically point to the revocation of the weekend noise ordinance waiver as the reason for the delay but “unforeseen conditions” that they explained are a consideration in underground construction.
“We thank everyone in the community for their patience. While we share your disappointment for a later-than-planned New Seasons opening, we are excited to truly be in the final stretch now,” said Mark Stefan, co-founder and President of CCRP. “In the next several months, we’ll have a new streetscape, a new garage, ample surface parking and a welcoming new neighborhood grocery store.”
Additional Construction Updates
As underground utilities are being installed, the Plant Construction team is fencing off areas of parking in limited phases. Plant notes that parking should be readily available during this construction phase and ample signage will be posted to direct customers.
Additional updates provided on the Public Market website include:
- Paving of the new Shellmound Street is underway
- New sidewalks will soon be added along the existing buildings
- Improvements on Christie Park will start in late November
C CASA, The Public Bar in the queue, Nyum Bai Moving On
The Market Hall portion of the Public Market project has experienced an almost complete turnover in vendors since the renovation began. Wazwan Indian is now the final holdover and their “Staying Power” was profiled in a recent East Bay Express piece.
In some bittersweet news, Nyum Bai announced they will be opening a full service restaurant at the former Half Orange space near Oakland’s Fruitvale BART station. Nyum Bai will continue operating their Public Market stall until the end of the year.
Nyum Bai was recruited to the Public Market through their involvement with the La Cocina Incubator and given the space at a reduced rate to help female entrepreneurs establish themselves. CCRP is currently in discussion with La Cocina to see if there is another entrepreneur that would be a fit for a kiosk.
City Center Realty Partners Sells The Offices at Public Market
CCRP, in a partnership with Angelo, Gordon & Co., also announced its sale of The Offices at Public Market to Denver-based EverWest Real Estate Partners. The eight-story, 109,237-square foot office building is part of the 14.5-acre mixed-use development that will comprise 456 residential units and 115,000 square feet of retail when completed.
CCRP made significant capital improvements to the office building while under their ownership. Renovations included modernizing the lobbies and common interior areas; upgrading the elevator cabs; and making exterior improvements, including painting the structure, adding new storefront to the office entries, and installing decorative metal latticework to define the entry. CCRP brought occupancy from 68 to 98 percent leased with tenants comprised of software, law, biotech, and education tenants, among others.
“We’re pleased to have repositioned The Offices at Public Market for a 21st century work environment, full of creative and innovative firms,” said CCRP President and Co-Founder Mark Stefan. “As CCRP maintains its focus on redeveloping this extensive project, the tenants will benefit from being in the center of a vibrant, amenity-rich, walkable and transit-oriented new neighborhood.”
SF Business Times noted the selling price as 33 million. The City of Emeryville will collect a 1.2% transfer tax as part of the 2014 Measure V (roughly $396K). The needed revenue will go into our general fund to help pay for city services and infrastructure projects.