2018 Real Estate Deals of the Year: The Broadway
- San Francisco Business Times March 27, 2019
- Dean Boerner
Why it won:
In the most recent example of what’s to come for Oakland’s auto row neighborhood, The Martin Group transformed a former Chevy dealership into the 423-unit apartment project known as The Broadway.
Located at 3093 Broadway, The Broadway is the largest housing development to be built in Oakland’s Broadway-Valdez area, which the city rezoned to pave the way for 3,000 homes and 360,000 square feet of retail to replace car showrooms and under-used lots.
The Martin Group worked with VTBS Architects and contractor Johnstone Moyer to preserve and incorporate a historical auto showroom facade into the seven-story project, which had total development costs of about $175 million.
It sits within a mile of both the MacArthur Boulevard and 19th Street BART stations, in Oakland’s Pill Hill neighborhood. With a list of amenities that include a pool, spa, gym, dog run and rooftop deck, The Broadway is an appealing option for the 13,000 medical professionals working at Kaiser and Alta Bates hospitals, who would be within walking distance of both medical centers.
“We created an oasis in an urban environment,” said David Martin, founder of the Martin Group.
Address: 3093 Broadway, Oakland
Size: 423 units, 20,000 square feet of retail
Cost: $175 million
Developer: The Martin Group
Contractor: Johnstone Moyer Inc.
Architect: VTBS Architects
Engineer: BKF Engineers
Law firm: Coblentz, Patch, Duffy, & Bass LLP