By Blanca Torres – Reporter-San Francisco Business Times
Satellite Affordable Housing Associates plans to break ground this month on the $33 million, 92-unit Lakeside Senior Apartments at Second Avenue and E. 15th Street in Oakland. Satellite partnered with Oakland Housing Initiatives and the Oakland Housing Authority on the project.
The property, designed by David Baker + Partners, will include one-bedroom apartments. The contractor on the project is James E. Roberts Obayashi Corp.
Satellite also recently upgraded five of its senior communities, totaling about $25 million for 350 units. The properties include four in Oakland: Satellite Central, Park Boulevard Manor, Doh On Yuen, and Glen Brook Terrace, as well as one in Berkeley, Stuart Pratt Manor.
The rehab included improving the common areas, systems and façades and was designed by Anne Phillips Architecture. Construction was done by a joint venture between D&H Construction and BBI Construction.
Coldwell HQ to Concord
Coldwell Banker’s Northern California headquarters for residential real estate is moving from Bishop Ranch in San Ramon to a 16,000-square-foot space in Concord Gateway, a 600,000-square-foot office complex at 1855 Gateway Blvd. in Concord.
Moving to Concord brings the office closer to employees who live in eastern Contra Costa County, the company said. Negotiations between Coldwell Banker and landlord Sierra Pacific Properties took about a year.
“Bishop Ranch also fought hard to keep its tenant,” said Scott Ellis, a Transwestern broker who represented the landlord. “But Sierra Pacific Properties patiently worked through several different proposals to allow Coldwell Banker to build space in a new location. This deal is a big victory for Concord Gateway.”
Sierra Pacific, a Bay Area developer, built Concord Gateway, a two-building, 10-story office complex, about 25 years ago. Trigger Reital and Terry Vani, both of Transwestern, also worked on the deal. Kirk Beebe of CBRE represented Coldwell Banker.
Company grows fivefold
Restoration Management Co., a fire and property damage restoration company, bought a 155,000-square-foot industrial complex at 4120-4142 Point Eden Way in Hayward to house the firm’s headquarters.
The company, founded in 1985, plans to move from its previous, 32,000-square-foot space in Union City.