Overview
Berkeley Central is 143 rental apartments over 15,400 square feet of ground-floor commercial and public space in downtown Berkeley, across from a BART station and two blocks from the UC Berkeley campus.
- Challenge
- A condominium high-rise in downtown Berkeley stood partly built, and its debt had defaulted. The City had attached income restrictions and public space obligations to the project.
- Vision
- We bought the defaulted debt and converted it to equity. We then finished the tower as rental apartments.
- Results
- Delivered in 2012 with LACERA.
