Overshadowed by our coverage of the 500 unit Sherwin-Williams development is the groundbreaking of 389 apartment units as part of the Public Market Redevelopment. Avalon Bay Communities’ AVA “Public Market” and AVA “Market Place” will come by way of a two-phase construction effort that includes separate 167 and 222-unit projects respectively.
Designed by TCA Architects, the centerpiece of the 26,151 sq. ft. project is said to be the “Bridge Walk”, which will drastically improve the stairwell on the western side of the existing Amtrak bridge (Artist rendering in the above first slide). The Eastern side will receive improvements from the in-progress Transit Center project directly across the tracks.
The approval of the project came after a contentious “negotiation” between our then council and the developers over the percentage of affordable units. The city successfully leveraged the realigning of Shellmound to increase the designated affordable units from 33 to 5o units or 11% (which is the current percentage of “affordable” housing stock across the city).
The theater site project plans to break ground in the third quarter of this year and both are expected to be completed in 2018. SFBT notes average rents projected at $3,605.
Exclusive: Nearly 400 homes start construction in tiny East Bay city
AvalonBay Communities Inc. is building 389 rental apartments in two phases in Emeryville, one of the largest projects in the two-square-mile city.
AvalonBay (NYSE: AVB) started construction in the third quarter of 2016 on the 167-unit Avalon Public Market building at 5900 Shellmound St. It also plans to break ground in the third quarter of this year on the 222-unit AVA project at 6301 Shellmound St.
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