Posted Sep 27, 2007, 4:23 PM
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Join Date: Apr 2005
Posts: 655
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From: http://www.bizjournals.com/sanfranci...l?surround=lfn
Quote:
Shorenstein, MetLife pair up for office building in downtown Oakland
San Francisco Business Times - by Ryan Tate
Shorenstein named a financial partner and groundbreaking date for its long-planned "T-12" office tower in downtown Oakland.
Shorenstein said MetLife Real Estate Investments would invest in the venture.
Just over 20 stories tall, the tower is part of the City Center office complex, which is nearly completely leased as growth by health giant Kaiser compresses office space in downtown Oakland amid a housing boom.
Shorenstein preserved the option of using the site for office, however, and ultimately pursued that plan amid the residential downturn, which has prompted developers in Oakland to cut prices and offer incentives like two years of paid homeowners' association dues.
Shorenstein must build on the site by 2009.
The company announced it plans to break ground in spring 2008.
It also disclosed that it plans to seek LEED certification on the building.
It is not yet clear whether the building will house a World Trade Center office. Mayor Ron Dellums during his election campaign last year advocated attracting a large World Trade Center facility to Oakland as a way to stimulate growth, and the T-12 site emerged as a potential site for such a center after proponents lost their bid to house the center at the former Kaiser Convention Center.
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From: http://www.oaklandcitycenter.com/property_plan.cfm
Does anyone know if T 5-6 is available to build on? I always thought it would a great spot for vertical mall and a tall mixed-use tower.
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