OAKLAND, Calif., March 20, 2024 (GLOBE NEWSWIRE) -- Cityview, a premier multifamily investment management and development firm, has completed Portico – a 378-unit multifamily project in Oakland, California. Now welcoming residents, the eight-story opportunity zone project is located in the fast-growing Brooklyn Basin master-planned community.
An ideal mix of urban energy and natural serenity, Portico combines access to city living with a serene waterfront setting. The project features a mix of studio, one-, two- and three-bedroom apartments as well as townhomes. More than 80% of the units overlook the water with stunning bay views.
“Portico provides 378 units of waterfront housing in one of the fastest growing and most vibrant areas of Oakland,” said Sean Burton, CEO of Cityview. “Cityview was able to leverage our extensive experience developing both in the Bay Area and in opportunity zones to deliver highly amenitized, ideally located housing for the community.”
Portico is a controlled access community that features amenities designed to help residents relax and rejuvenate, including a rooftop sky lounge, a resort-style pool and spa deck and a park-like outdoor courtyard featuring fireplaces, outdoor games and a community garden. The community’s indoor/outdoor fitness space features state-of-the-art equipment and a movement studio, while the clubhouse, community wine room, game room and leasing lobby lounge provide space for residents to connect and entertain. A pet-friendly community, Portico also features an outdoor pet spa and pet park.
Portico’s units offer a Latch smart home system that includes keyless entry and smart thermostats, elevated finishes, stainless steel appliances, large closets, air conditioning, in-suite full-sized washer and dryers, luxury vinyl plank flooring and kitchens with fully tiled backsplashes as well as hard quartz countertops.
Managed WiFi will be available throughout the community, and technology-enabled workspaces as well as meeting rooms are available for those who work from home. The project also offers 331 parking spaces for residents and guests.
Designed to meet LEED Silver standards, the community’s sustainability features include low-flow fixtures, Energy Star certified appliances, a solar thermal system that helps provide hot water for units and energy efficient windows.
Portico residents have access to Brooklyn Basin’s extensive waterfront recreational and retail amenities, which will include a network of waterfront parks, a promenade, restored wetlands, a pedestrian and bicycle trail system, event space for concerts and art exhibits and 200,000 square feet of retail, dining and shopping space. Situated on 65 acres of formerly inaccessible industrial land, the master-planned community features panoramic views from San Francisco to the East Bay hills.
Residents also have access to Brooklyn Basin’s private transit shuttle service, which provides seamless transfer to the water ferry in Jack London Square as well as the BART stations in Lake Merritt and downtown Oakland. The project is also minutes away from Interstate 880, allowing a short commute to San Jose, San Francisco and Berkeley.
Located on the Oakland Estuary, Portico is near some of the area’s most notable attractions, including Jack London Square, Oakland Museum of California, Lake Merritt, Fox Theater, USS Potomac and the Oakland Convention Center.
Cityview partnered with general contractors James E. Roberts Obayashi and Webcor, architecture firm AC Martin and interior design firm Nadia Geller Designs on Portico. Located at 37 8th Ave., the project generated more than 2,000 jobs for the community.
Cityview’s other recently completed projects include Jasper – a 296-unit opportunity zone project near Downtown Los Angeles, The Parker – a 123-unit multifamily project in West Los Angeles, and Atrio – a 276-unit value-add renovation in Burbank. The firm continues to be active in both development and value-add projects across the Western U.S., including redeveloping obsolete office and retail sites in Denver and San Diego.
For additional information, please visit porticowaterfront.com.
About Cityview
Founded in 2003, Cityview is a vertically integrated real estate investment management and development firm focused on multifamily housing in gateway markets in the Western U.S. Specializing in developing, acquiring, and operating opportunistic and value-add multifamily projects, Cityview creates sustainable housing options in transforming areas, changing cities into communities, people into neighbors and houses into homes. Cityview has invested in more than 130 projects to date. For more information, visit cityview.com.
Media Contact:
Jade Terry
Senior Communications Manager, Cityview
jterry@cityview.com
512-415-6923
