[CPEO-BIF] Brooklyn Basin waterfront, Oakland, California

[Lenny Siegel <lsiegel@cpeo.org>]

News Release
Port of Oakland, California
June 10, 2013

Port of Oakland Closes Escrow with Development Partners on Brooklyn  
Basin Property
Ten-year-plus vision for waterfront redevelopment becoming reality

Oakland, CA - On Monday, June 10, 2013 the State Lands Commission and  
the Port of Oakland closed escrow with Zarsion-OHP I, LLC of Oakland,  
CA, an entity managed by Signature Development Group and Zarsion  
America, on the Brooklyn Basin project (also known as the "Oak-to- 
Ninth" project). For over a decade, the Port has been in contract to  
sell and lease the 64-acre waterfront site. Oakland Board of Port  
Commissioners President Gilda Gonzales said, "We are excited to close  
escrow on this unique waterfront property that has long been  
unfeasible for future maritime use for the Port. We appreciate all of  
those who have helped make this agreement possible including Governor  
Jerry Brown, Oakland Mayor Jean Quan, our partners Signature  
Development Group and their recent China-based investment partner  
Zarsion America. This redevelopment will transform property that is  
no longer needed for maritime use into a wonderful new neighborhood  
for Oakland."

...

The developer's approved project for the site provides many economic,  
environmental and social equity benefits for the City of Oakland and  
the region, including a Community Benefits Agreement developed as  
part of the local land use entitlements for the project. It will  
support many sustainability concepts and will result in the  
environmental remediation of an existing industrial property up to  
residential and open space standards for the benefit of all who will  
live, work or visit in the area. It will also provide economic  
benefits to the local economy in the form of additional housing  
units, including affordable housing units, and jobs for local residents.

...

For the entire release, see
http://www.portofoakland.com/newsroom/pressrel/view.asp?id=306


--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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