Grosvenor Breaks Ground on Mixed-Use California Community

2 min read

Scheduled for completion by the second quarter of 2024, the property was designed by Solomon Cordwell Buenz.

Rendering of 1951 Shattuck. Image courtesy of Grosvenor

Grosvenor has started construction on a 12-story apartment building in Berkeley, Calif., that emphasizes a more sustainable building design. The developer broke ground on 1951 Shattuck and is expecting to complete the community in the second quarter of 2024.

The Solomon Cordwell Buenz-designed project first received nearly unanimous planning approval from the city’s Zoning Adjustments Board in 2019. More recently, Grosvenor secured a $90 million construction loan provided by J.P. Morgan for the project.

The Class A apartment building will offer 163 units in studio, one-, two- and three-bedroom floorplans that range from 522 to 1,402 square feet. Grosvenor will include a coworking area, lounge, private meeting rooms, fire pits, barbecue areas and outdoor lounge areas as common amenities. The mixed-use community will also include 5,000 square feet of retail and two floors of parking that includes nine electric vehicle charging stations.

Grosvenor has designed 1951 Shattuck to GreenPoint Rated Gold certification, planning for it to be primarily powered by electric instead of gas. The community will also help Grosvenor bring emissions for its landlord-controlled space to net zero by 2030, as part of its comprehensive World Green Building Council commitment.

CONTRIBUTING TO THE SURROUNDING COMMUNITY

As part of the 1951 Shattuck project, Grosvenor also agreed to a number of community-oriented stipulations. The developer agreed to ensure local union workers would be used for the project’s labor, to relocate a popular locally run business called Berkeley Vacuum & Sewing Center, and to contribute more than $6 million to fund local affordable housing projects. Grosvenor is also forming a partnership with Berkeley Food & Housing’s HOPE project, an affordable housing development for the area’s veteran and chronically homeless populations.

Beyond 1951 Shattuck, Grosvenor has worked on several communities in walkable, transit-oriented neighborhoods in the San Francisco Bay Area. The developer has built communities in the Jackson Square and Nob Hill neighborhoods of San Francisco and recently acquired the land for a 225-unit rental community that includes affordable housing in the East Bay. Grosvenor, along with its partner Intracorp, also recently sold a 290-unit luxury community in Fullerton, Calif., for $168 million in December.

You May Also Like

The latest multifamily news, delivered every morning.


Latest Stories

Like what you're reading? Subscribe for free.