Oakland Gets Much Needed Moderate-Income Housing

News provided by

Sep 25, 2023, 13:00 ET

Riaz Capital has opened two buildings in 2023 with five more slated for 2024

OAKLAND, Calif., Sept. 25, 2023 /PRNewswire/ -- In positive news for alleviating the housing crisis, Oakland, California is seeing new premium-quality and accessibly-priced rental properties open for moderate-income workers.

2023 has been a milestone year for Riaz Capital as the company delivered two landmark buildings in Oakland, providing 140 beautifully appointed and affordable new construction residences to the community. The company is just getting started – five more buildings are slated to launch in 2024, which will provide an additional 470 much-needed moderate-income residences.

Property	Neighborhood	Year of Completion	No. of Units
Artthaus Six	Merritt, Oakland	2023	75
Artthaus Magnolia	McClymonds, Oakland	2023	65
Artthaus Yerba Buena	Longfellow, Oakland	2024	50
Artthaus Jack London	Jack London, Oakland	2024	130
Artthaus Brush	Ralph Bunche, Oakland	2024	90
Artthaus Chestnut	McClymonds, Oakland	2024	60
Artthaus Nine	Old Oakland, Oakland	2024	140
TOTAL			610

Buildings Launched in 2023

Artthaus Six

This project was designed by Baran Studio Architecture and consists of 15 three-story townhomes comprising 75 studio apartments. Located in the Merritt neighborhood of Oakland, just one block from Laney College, Artthaus Six is an ideal housing solution for Laney's employees and students.

Artthaus Magnolia

This project consists of 13 three-story townhomes comprising 65 studio apartments, an interior landscaped courtyard, and eight on-site parking spaces. Artthaus Magnolia is located in the heart of West Oakland, surrounded by a number of local restaurants and shops.

Building Launches in 2024

Artthaus Jack London

With a total of 130 apartments, this project is located in the heart of Jack London Square, which is a stone's throw away from the best of what Oakland has to offer. Its sprawling 10,000-square-foot courtyard with a pool creates an inviting space for relaxation and enjoyment. The project captures the timeless charm and sophistication of mid-century design, seamlessly blending modern comforts with a nostalgic vibe.

Artthaus Brush

Located in the West Oakland neighborhood of Ralph Bunche, Artthaus Brush offers 90 studio apartments across the freeway from downtown Oakland. The property is a few blocks away from the Fox Theater and dozens of local eateries and bars, including Starline Social Club, Hopscotch, and Ghost Town Brewing.

Artthaus Yerba Buena

Located in the Longfellow neighborhood of West Oakland, this project is within walking distance to the large Emeryville shopping center that is home to a number of eateries as well as large national retailers. Artthaus Yerba Buena will house 50 residents within 10 five-unit townhouses.

Artthaus Chestnut

Soaring to a height of 40 feet above street level, Artthaus Chestnut will provide 60 studio apartments occupying a 19,800-square-foot project site, with a total built-up area of 26,600 square feet. On-site parking, which is conveniently situated within the project's interior, is available for 12 vehicles and three bicycles, while the main entrances for each residence will open onto a charming landscaped walkway. This project is located in the McClymonds neighborhood of West Oakland with proximity to popular local eateries Soba Ichi, Ghost Town Brewing, and Spinning Dough.

Artthaus Nine

Stretching across five stories, this midrise development maximizes space to provide 140 apartments to the downtown Oakland community. Nestled on a lot spanning 15,413 square feet, the structure itself will occupy an impressive 62,600 square feet. Located in historic Old Oakland, the project is just a few blocks away from the 12th St BART station and local parks Lafayette Square and Jefferson Square.

Looking Forward

Riaz Capital has an impressive building pipeline extending beyond 2024, and is poised to deliver over 1,000 apartment units to the East Bay by the end of 2026. The projects are beautifully constructed, conveniently located, and transit-oriented. The Oakland skyline will forever be changed by Riaz Capital's continuing development efforts as the company does its part to help solve the Bay Area's housing crisis by providing much-needed accessible housing to the community.

Media Contact:
Mathew Salter
+1 (415) 828-5800
[email protected]

SOURCE Riaz Capital