Wood Partners Announces Groundbreaking of Alta Buena Vista in Alameda

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Dec 16, 2019, 20:30 ET

ALAMEDA, Calif., Dec. 16, 2019 /PRNewswire/ -- Wood Partners, a national leader in multi-family real estate development and acquisition, announced earlier today the groundbreaking of its newest luxury residential community – Alta Buena Vista – on Alameda Island in California.

Alta Buena Vista, a 372-unit luxury mixed-use project on the island's northern waterfront, is the first market-rate apartment development in more than 40 years on Alameda Island. The 10-acre community will blend the old and new, mixing the existing six-acre historic brick Del Monte Warehouse – built in the 1920s – with new apartments and retail spaces designed by BAR Architects. Alta Buena Vista will be the largest budgeted development in Wood Partners' 20-year history.

"The Alta Buena Vista site at the Del Monte Warehouse is a historic opportunity for Wood Partners, paying homage to the history of Alameda," said Julia Wilk, Managing Director for Wood Partners. "With the lack of any market rate apartment development on the island, so close to the region's employment centers, we're confident that Alta Buena Vista will offer a wonderful blend of small island community with easy access to everything the Bay Area has to offer."

Located at 1501 Buena Vista Avenue, the site is a short distance to the Alameda Ferry Terminal, providing direct service to Downtown San Francisco's Financial District and to AC-Transit connections to BART, Downtown Oakland and across the Bay Bridge to San Francisco. I-880, connecting cities across the East Bay and Oakland, is right off the island via tunnel or bridge. Downtown Oakland has seen a booming commercial market recently, with many high-profile companies moving jobs and operations to the East Bay area.

Once completed, residents of Alta Buena Vista will have access to a wide range of retail, restaurant and grocery options nearby. The Park Street and Webster Street corridors offer cafes, dining and nightlife, in addition to numerous boutique stores. Just across the estuary is Oakland's up-and-coming Jack London Square, a vibrant hub of restaurants, entertainment, outdoor recreation and community events.

Alta Buena Vista will offer a range of amenities including a well-appointed fitness center, resident lounge, multiple roof decks and 11,000 square feet of ground-floor retail space. The community is expected to open in early 2022, featuring studio, one- and two-bedroom apartment floor plans, as well as two- and three-bedroom townhomes.

About Wood Partners

Wood Partners is a national real estate company that acquires, develops, constructs and property manages multifamily communities. The company has been involved in the acquisition and development of more than 79,000 multifamily homes with a combined capitalization of more than $14.1 billion nationwide. The company currently owns 68 properties across the United States with a combined total of more than 18,000 homes. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Nashville, Orange County, Orlando, Phoenix, Portland, Raleigh-Durham, San Francisco, Washington, D.C., and West Palm Beach.