Wood Partners Opens Bay Area Luxury Community

Alta Star Harbor. Image courtesy of Wood Partners

Wood Partners has opened Alta Star Harbor, a five-story, 372-unit adaptive reuse luxury apartment community located at 1518 Clement Ave. in Alameda, Calif. The firm developed the project in a joint venture with Principal Real Estate Investors.

A historic revival

Alta Star Harbor was built on a 10-acre historic site, home to a former historic food canning and storage warehouse that was built in 1927 and owned by Del Monte Foods. The property began redevelopment in 2001, with the Alameda City Town Council approving the plans for Alta Star Harbor in 2014. A $122 million construction loan was provided by Helaba Bank, according to CommercialEdge information. The project, which was designed by BAR Architects, keeps the building’s original brick façade and windows, with some apartments displaying the warehouse’s original roofs, walls and hardwood floors. Wood Residential is assuming property management duties for the community.

Julia Wilk, Managing Director for Wood Partners, detailed the adaptive reuse of the property further, explaining to Multi-Housing News that the project was the firm’s second in the Bay Area, and that such properties have carved out a unique appeal to renters. “In 2016, our team successfully completed Alchemy in San Francisco, also with BAR Architects, which converted a 1920s school campus into a Class A mixed-use community. We knew the Wood Partners team could tackle a complex project such as Alta Star Harbor, and that the end result would be a community with character and a unique sense of place – something we have found appeals to our residents,” Wilk said.

READ ALSO: Why Multifamily Adaptive Reuse Is on the Rise

In its new life, the community hosts a mix of studio, one-, two- and three-bedroom apartment and townhome-style living arrangements, which range between 540 and 1,677 square feet. The homes feature hard-surface open floor plans, stainless steel appliances, quartz countertops, in-house laundry machines and private climate controls. Across the Fitwel-certified community, residents have access to multiple rooftop sundecks with views of the city’s waterfront as well as a fitness center, yoga studio, lounge and clubroom. Additionally, the property includes 11,000 square feet of retail space, CommercialEdge data shows. Situated on Alameda’s Encinal Basin, the community is within 2 miles of Oakland and 9 miles of downtown San Francisco, and within walking distance of many retail, dining and entertainment offerings.

Wood Partners’ development propulsion

Wood Partners remains an active developer in nearly all of the nation’s multifamily markets and asset classes. In the suburbs of Houston, the firm has broken ground on a Alta Cypress Springs, a 330-unit luxury apartment community. On the opposite end of the affordability spectrum, in a joint venture with PGIM Real Estate, the firm has started construction on Alta Town Center, a 336-unit affordable development set to begin leasing in summer 2023.