Brooklyn Basin, described as a colorful new waterfront village, is already under construction on a Oakland Estuary just south of Jack London Square.

OAKLAND, CA—The 3,100-unit residential portion of Oakland’s Brooklyn Basin project  officially kicks off this morning with a groundbreaking ceremony planned for developers and local officials.

The 10 a.m. ceremony was to include Oakland’s mayor Jean Quan, a representative of the Chinese consulate, and business partners involved in the China-US development.

Brooklyn Basin, described as a colorful new waterfront village, is already under construction on a Oakland Estuary just south of Jack London Square. Signature Development Group and Zarsion America planned today’s groundbreaking ceremony for the project that has been more than 12 years in a making.

Plans call for a world-class redevelopment they say will renovate a neglected, 64-acre industrial area into a smart, modern residential neighborhood. When completed, Brooklyn Basin will include more more than 30 acres of new city parks and publicly permitted open space.

The residential mix will include apartments, condominiums, lofts and townhouses as the main component of the $1.5 billion development. The waterfront village will ring 200,000 square feet of planned retail space, replacing the Clinton Basin and 5th Avenue marinas, refuge of a apportionment of a ancestral Ninth Avenue Terminal and endless wetlands restoration.

“Brooklyn Basin is a pivotal site connecting Downtown to the waterfront revitalization that’s occurring in Oakland,” said Michael Ghielmetti, president of Signature Development Group, the project’s lead developer. “We’ve designed a lifestyle environment with parks, open spaces, marinas, dining and first-class multi-family residences. Brooklyn Basin’s groundbreaking is the culmination of years of planning and work with the community that will reanimate this part of Oakland’s historical waterfront.”

Zarsion-OHP I LLC is an authorized partnership for development of Brooklyn Basin. It includes California-based Zarsion America and Oakland Harbor Partners. Zarsion America is a auxiliary of Beijing Zarsion Holdings Group Co. Ltd. of China.

Oakland Harbor Partners is comprised of Signature Development Group, Signature Homes and Reynolds Brown.