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Lennar Multifamily Communities is catching the wave of East Bay development with two large projects planned for Oakland.
The Lennar Corp division plans to build a 245-unit market-rate tower at 1640 Broadway that, at 380 feet, could be Oakland's tallest new residential tower (and its third-tallest building). Nearby, Lennar hopes to build another 225 units in a mid-rise building near the 19th Street BART station, according to the San Francisco Business Times. It just filed the pre-application for that project.
The company already has received approvals for the 1640 Broadway tower (rendering above) and plans to break ground before the end of the year. The tower is expected to cost more than $120M to build. Lennar is buying the property from owner Joe Hernon for an undisclosed price. [SFBT]
