Alice House is a 79-unit apartment building on Alice Street in downtown Oakland, designed after the neighborhood's art deco buildings. It is about four blocks from the 12th Street BART station.
Challenge
The site at 14th and Alice carried entitlements for a high-rise that would have cost more to build than downtown Oakland rents could support.
Vision
We re-entitled the site for a six-story, 79-unit building we could deliver at those rents, with a rooftop deck and a courtyard.
Results
Delivered in 2021 and recapitalized in 2023 in a $47 million transaction with STARS REI and JPMorgan Chase.
