Cityview Completes 378-Unit Oakland Multifamily Property

The property has 378 units. Image courtesy of Cityview

Cityview has delivered Portico, an eight-story, 378-unit multifamily development in the fast-growing Brooklyn Basin master-planned community in Oakland, Calif.

The developer received a $107.5 million construction loan for the Opportunity Zone project from Bank OZK in October 2020. The general contractor was James E. Roberts Obayashi and Webcor. Other project team members included architecture firm AC Martin and interior design firm Nadia Geller Designs. The project generated more than 2,000 jobs for the community.

Located on nearly 2 acres at 37 8th Ave., Portico has a mix of studio, one-, two- and three-bedroom apartments ranging in size from 611 to 1,316 square feet as well as townhomes. Rents start at approximately $3,019, according to Yardi Matrix data. More than 80 percent of the units overlook the water with bay views.

The residences have a Latch smart home system that includes keyless entry and smart thermostats. Other unit features include elevated finishes, stainless steel appliances, large closets, in-suite, full-size washer and dryers, luxury vinyl plank flooring and kitchens with tiled backsplashes and hard quartz countertops. Select units have private balconies or patios. Designed to meet LEED Silver standards, sustainability features include low-flow fixtures, Energy Star certified appliances, energy efficient windows and a solar thermal system that helps provide hot water for the units.

Portico amenities

The controlled-access community has numerous amenities including a rooftop sky lounge, resort-style pool and spa deck, outdoor courtyard with fireplaces, outdoor games and a community garden. Indoor and outdoor fitness spaces include state-of-the-art equipment and a movement studio. The property also has a clubhouse, community wine room, game room and leasing lobby lounge for gathering and entertaining. Portico is a pet-friendly community with an outdoor pet spa and pet park.

Residents who work from home will find Wi-Fi throughout the property, technology-enabled workspaces and meeting rooms.

Portico has  a total of 331 parking spaces for residents and guests. Covered parking is available for an additional fee.

Situated on 65 acres of formerly inaccessible industrial land, the Brooklyn Basin master-planned community has views from San Francisco to the East Bay hills. Portico residents will have access to Brooklyn Basin’s extensive waterfront recreational and retail amenities including parks, a promenade, restored wetlands, pedestrian and bike trail system, event space and 200,000 square feet of retail, dining and shopping space.

The property is also near some of the area’s top attractions including Jack London Square, Oakland Museum of California, Lake Merritt, Fox Theater, USS Potomac and the Oakland Convention Center.

Private transit shuttle service is offered, with options to transfer to the water ferry in Jack London Square and the BART stations in Lake Merritt and downtown Oakland. Portico is minutes from Interstate 880, providing a short commute to San Francisco, San Jose and Berkeley, Calif.

Cityview projects

Cityview focuses on multifamily housing in gateway markets in the western U.S. The firm’s projects include redeveloping obsolete office and retail sites in Denver and San Diego and several value-add projects in Southern California.  In October, Cityview completed The Parker, a 123-unit community in West Los Angeles. The firm also completed Jasper, a 296-unit property in downtown Los Angeles last year and broke ground on several new projects, including Apollo, a 265-unit Los Angeles community being developed in partnership with Stockbridge.