Olympic Residential Starts Apartment Project in Berkeley
- Mar 27, 2015
Berkeley, Calif.—Olympic Residential Group has broken ground today on a mixed-use development at 2121 Dwight Way in Berkeley, Calif., with 99 residential units. According to the developer, the target market includes a mix of young professionals attracted to the transit-oriented location (it’s near a BART station), empty-nesters, and UC Berkeley students and faculty.
The residential units will be a mix of studio, one- and two-bedroom units ranging from 500 square feet to 1,100 square feet. Besides the residential space, the development will include a leasing office and 5,100 square feet of ground-floor retail space suited for a café and other neighborhood-serving specialties.
Common amenities include a 3,875-square-foot roof deck with outdoor fireplaces, outdoor kitchen, gas grills and views of San Francisco. The ground-floor lounge provides a gathering space that includes game tables, shuffleboard, HDTV and Wi-Fi. The pet-friendly development will have outdoor spaces for resident pet enjoyment, including a dog washing station.
Olympic was founded in 2012 by Dan Deibel, a Bay Area multifamily developer who was formerly the managing director of Palo Alto-based Urban Housing Group, and held construction and development positions at Sares-Regis Group. Construction financing for 2121 Dwight Way is being provided by MUFG Union Bank in San Francisco, and the project’s GC is Western National Builders.
Olympic will pursue LEED Gold certification for the Christiani Johnson Architects-designed building. The development is slated for completion in the summer of 2016.