Report: Developer Buys Prime Oakland Site, Opts for Fewer Units
Forma LLC has a non-refundable agreement in place to buy one of Oakland’s most valuable residential sites at 12th and Webster streets.
The site is zoned for two high-rises with 650 units, but the economic realities of building in Oakland are leading the developer towards other plans. The developer says due to high construction costs in Oakland, it's chosen to go low-rise on the project.
Plans are still being finalized, but they will likely include between 200 and 300 units in total. As opposed to two high-rises, the site will likely include a mid-rise between 10 and 16 stories next to a low-rise building with an additional low-rise across the street. [SFBT]