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More Housing Heads To Jack London Square

More Housing Heads To Jack London Square
Rendering of CIM Group's residential project at 40 Harrison St. within Jack London Square in Oakland

CIM Group's vision for over 300 new homes in Jack London Square is moving closer to reality.

The Los Angeles-based developer just topped out its eight-story, 333-unit apartment development at 40 Harrison St. in Oakland's promising Jack London Square area, with a summer 2020 completion date in sight. 

In March 2016, the company purchased over 425K SF of the neighborhood's waterfront space from Ellis Partners, Transbay Holdings and DivcoWest.

In addition to 40 Harrison, CIM also has approvals for a 155-room hotel at nearby 55 Harrison St., where it has also agreed to lease 40K SF to rising entertainment venue developer John McEnery of Kinzie Bridge Holdings for a market hall-like venue. 

Formerly used for surface parking, CIM Group's 40 Harrison St. site will have a mix of studios through three-bedroom units and will be bound by Harrison Street to the west, Embarcadero West to the north, Alice Street to the east and the water to the south. It will also have 2,400 SF of ground-floor retail.

CIM Group didn't respond to a request for comment. 

The project's delivery will come amid a boom in the burgeoning Oakland neighborhood. Among hundreds of homes coming to Jack London Square at various stages, Mill Creek's construction on the 134-unit Modera Jack London Square just finished at 378 Embarcadero West. And after receiving a tentative approval for a Howard Terminal ballpark, the A's might be on their way to opening a brand-new ballpark in the north part of Jack London Square as soon as 2023.

CIM itself has more housing units in its Oakland pipeline, with 288 homes in a 16-story building under construction at 1150 Clay St.  In Uptown, yet another up-and-coming Oakland neighborhood, it is also wrapping up its redevelopment of Uptown Station, a soon-to-be 355K SF office building leased by digital payments company Square.