Cityview, a multifamily investment management and development firm, unveiled the name of its 378-unit opportunity zone project in Oakland, California as Portico. Slated to complete in December 2023, the project is designed to meet LEED Silver standards and is a premier waterfront community in Brooklyn Basin’s master-planned community.
The eight-story project will feature a mix of studio, one-, two- and three-bedroom apartments as well as townhomes, with more than 80% of the units overlooking the water.
“Featuring a prime waterfront location in the fast-growing Brooklyn Basin community, Portico will offer extensive amenities and easy access to everything the area has to offer,” said Sean Burton, CEO of Cityview in a statement. “We are proud to have leveraged our vertically integrated platform and extensive experience developing in opportunity zones to bring nearly 400 units of additional housing to the Bay Area.”
Portico features amenities designed to foster resident connection and relaxation, including a rooftop sky lounge, pool and spa deck, quiet courtyard, outdoor pet spa, indoor and outdoor fitness areas, movement studio, clubroom, wine cellar, game room and leasing lobby lounge. Managed WiFi will be available throughout the community, and an expansive coworking space will provide private and community workspaces for those who work from home.
All units will include high-end finishes, including stainless steel appliances, smart thermostats, large closets, air conditioning, full-sized washer and dryers, keyless entry, luxury vinyl plank flooring and kitchens with fully tiled backsplashes as well as hard quartz countertops. The project will also include 331 parking spaces for residents and guests.
Designed to meet LEED Silver standards, Portico features low-flow fixtures, Energy Star certified appliances, a solar thermal system that helps provide hot water for units and energy efficient windows.
Located on the Oakland Estuary, Brooklyn Basin will offer diverse retail and cultural amenities for Portico residents to enjoy, including 32 acres of parks, a promenade, restored wetlands, a new marina, event space for concerts and art exhibits and 200,000 square feet of retail offerings.
Portico’s residents have access to Brooklyn Basin’s private transit shuttle service, seamlessly connecting them to the water ferry in Jack London Square as well as BART stations in Lake Merritt and downtown Oakland in less than 10 minutes. The project is also minutes away from Interstate 880, allowing a short commute to San Jose, San Francisco and Berkeley.
The location provides convenient access to some of the area’s most notable attractions, including Jack London Square, Oakland Museum of California, Lake Merritt, Oakland’s Chinatown, Fox Theater, USS Potomac and the Oakland Convention Center.
Portico’s name was inspired by the historic columns at Township Commons, Oakland’s newest waterfront public park, which is located in Brooklyn Basin. The park transforms a former shipping facility into an expansive public space designed to host outdoor activities and small community gatherings.
Cityview partnered with general contractors James E. Roberts Obayashi and Webcor, architecture firm AC Martin and interior design firm Nadia Geller Designs on the project. Located at 37 8th Ave, Portico generated more than 2,000 jobs for the community.
Cityview continues to be active in both development and value-add projects across its Western U.S. target markets, including redeveloping obsolete office and retail sites in Denver and San Diego and value-add projects in Southern California.