(Save the date: RealShare Apartments East comes to the Hyatt Regency Miami, Florida on February 26th, 2013)
BERKELEY, CA-The first major entitlement under Berkeley’s new Downtown Area Plan, Acheson Commons, cleared another major hurdle with its unanimous final approval by the city’s Zoning Adjustments Board in late December. Being developed by Equity Residential, in collaboration with local Berkeley architects and planners, Kirk Peterson Architects and Rhoades Planning Group, the $90-million project also encompasses $6 million to restore historic facades and materials.
The project, which was also approved unanimously by Berkeley’s Design Review Committee and the Landmark Preservation Commission, is expected to not only bring 350 more residents to the city’s core, but new temporary and permanent jobs, according to a prepared statement.
Fronting University, Walnut and Shattuck avenues, Acheson Commons will continue to encompass approximately 33,250 square feet of ground floor retail, with the addition of 205 units of transit-oriented and sustainable urban infill residences incorporated into the site, according to the statement. Included within the approved plan is an AC Transit Pass for every residence, in addition to 21 Below Market Rate Housing units.
Equity Residential currently has approximately 450 units of for-lease, multifamily units in Berkeley, having been an active member of the community for approximately five years.
GlobeSt.com will update this story later with quotes from Peter Solar, VP of development for Equity Residential.