On the shores of the San Francisco Bay Area’s East Bay will be a vibrant new mixed-use neighborhood on the Oakland Estuary, anchored by 3,100 residential units, 200,000 square feet of ground floor retail and commercial space, 32 acres of parks, restored wetlands and a new marina. This EB-5 project consists of the horizontal infrastructure development of 9.86 acres of land, including demolition, remediation, and street and park development.
“Brooklyn Basin is the largest approved, mixed-use master plan in the city. It will be an economic boon to the city and the region. Our history and future is on the waterfront.”
— Former Oakland Mayor Jean Quan
Quick Project Facts
Brooklyn Basin encompasses 65 acres and is slated for 3,100 residential units, 200,000 square feet of ground floor retail and commercial space, 32 acres of parks, restored wetlands and a new marina. The project will be completed in four phases. All of the horizontal infrastructure, including parks, wetlands restoration, and the Embarcadero improvements, will be completed by the master developer. This transformative development will reshape this historical waterfront site into a thriving neighborhood connecting the city to the history of Oakland.
Brooklyn Basin will establish a vibrant new mixed-use neighborhood on the Oakland Estuary, and with the appeal of the waterfront, the neighborhood will become a civic destination of regional importance; with its extensive “necklace” of parks, promenades, marinas and plazas, the new community will significantly extend and enliven Oakland’s waterfront eastward from Jack London Square, reconnecting the City with a significant portion of its shoreline.
This EB-5 project consists of the horizontal infrastructure development of 9.86 acres of land along the Oakland estuary in Oakland, California (Phase I, IA and II), and will include demolition, remediation, and street and park development.
EB-5 Investors: 63
Minimum Investment: $500K
EB-5 Capital Investment: $31.5M
Project Cost: $125M
Developer Investment: 55%
EB-5 Investment 25%
Required EB-5 Job Creation: 630 Jobs
Anticipated Job Creation: 843.2 Jobs
Investment Cycle: 5 Years
Developers to kick off work on Brooklyn Basin: Oakland's answer to Mission Bay (SF Business Times)
Brooklyn Basin Deal Gives Oakland a Boost (Wall Street Journal)
Massive Housing Development Put on Fast Track in Oakland (East Bay Express)
Horizontal infrastructure installation
Amount Raised: $31,500,000
Construction start: 2015
I-526 Approval Rate: Pending
Jobs Created: 603 (projected)
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