A hometown developer working on the $2 billion makeover of the Brooklyn Basin along Oakland’s waterfront is breaking its large ambition down into smaller pieces.
Signature Development’s latest filings with the City of Oakland indicate the next chunk of the 65-acre site will undergo residential development in two phases, the San Francisco Business Times reported. That’s a change from prior plans for an area referred to as Parcel H, which is now expected to see 83 townhomes developed in a first phase and a second phase to bring 220 condominiums to go with nearly 7,000 square feet for retail and parking.
Signature President Mike Ghielmetti downplayed the changes, telling the Business Journal that the initial plans, which called for the overall development of 280 or so residential units on Parcel H, were placeholders during the entitlement process.
The overall Brooklyn Basin site has more than 10 parcels of various sizes and configurations. Each of the parcels received approvals and entitlements in an initial development plan in 2009. Those approvals came with conditions, such as limits on building heights and the total number of units.
Signature Development is required to confirm the approvals for each parcel before starting construction. The project has seen about 1,500 residential units on various parcels so far.
The developer earlier this year sought a change to allow more residential units in the area known as Parcel N, a 4-acre section currently designated for open space and parking.
Signature’s overall approval in 2009 calls for 3,100 residential units, 200,000 square feet of office space, retail, restaurants and a new marina, with about 30 acres of open space in the mix. It got approval — along with China-based partner Zarsion Holdings Group — to add 600 units to the master plan.
Other master-planned developments in the East Bay market include the former Concord Naval Weapons Station and the stalled California Forever project in Solano County.