Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

SAN FRANCISCO-A Bay Area joint venture has acquired a vacant corner lot in Berkeley with visions of a $40-million residential-over-retail development. The .75-acre parcel at 1200 Ashby Ave. is slated for a four-story building containing 100 units of housing (20% affordable) atop 12,000 sf of street-level retail, and an above-ground parking structure.

The developer is a joint venture of San Francisco-based Rawson, Blum & Leon and Memar Properties Inc. of Oakland, CA, led by Ali Kashani, the founder and former executive director of Affordable Housing Assoc. Kava Massih Architects of Berkeley is the project designer. No contractor has been named.

RBL says it is currently in the process of obtaining the necessary entitlements for the Ashby Avenue work-force housing project. It expects to break ground in the fall 2008 and complete the project by 2010.

The development site sits on two major transit corridors close to Interstate 80. RBL acquisitions director Jeffrey Leon says the area is going through a major revitalization. One-half block from the site, Berkeley Bowl is slated to open a 90,000-sf grocery store within two years.

In a related move, RBL says it has hired Erik Halterman as development manager. Most recently a VP with the private equity firm Rockwood Capital, Halterman will be responsible for overseeing the development and repositioning of RBL’s multi-tenant retail centers and mixed-use projects located primarily in California, including the new project in Berkeley.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.