(To read more on the multifamily market, click here.)
SAN FRANCISCO-A Bay Area joint venture has acquired a vacantcorner lot in Berkeley with visions of a $40-millionresidential-over-retail development. The .75-acre parcel at 1200Ashby Ave. is slated for a four-story building containing 100 unitsof housing (20% affordable) atop 12,000 sf of street-level retail,and an above-ground parking structure.
The developer is a joint venture of locally based Rawson, Blum& Leon and Memar Properties Inc. of Oakland, led by AliKashani, the founder and former executive director of AffordableHousing Associates. Kava Massih Architects of Berkeley is theproject designer. No contractor has been named.
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