Tidewater Receives Final Approvals on 289-Unit Project in West Oakland And 381-Unit Project In Downtown Oakland

Tidewater Capital, a San Francisco-based real estate investor and developer focused on the Bay Area, received final approvals for both 533 Kirkham, a 289-unit residential development in West Oakland, as well as a 381-unit project at 1431 Franklin in the city’s Downtown.

“We’re pleased to have the support of the full Planning Commission for our development at 533 Kirkham in West Oakland and, in Downtown, the final approval of 1431 Franklin,” said Tidewater Capital Principal, Ross Stackhouse. “With 533, Tidewater will now be able to bring new housing to an underutilized parking lot adjacent to BART, expediting the transformation of the surrounding blocks into a burgeoning mixed-use neighborhood. Oakland’s Downtown will meanwhile benefit from new housing that provide residents walkability to the City’s vibrant and diverse urban core — supporting the restaurants, retail, and other small businesses that call it home.”

The 533 Kirkham project is slated to rise 85 feet with approximately 254,850 square feet in total, 237,860 of which will be dedicated to housing, 2,990 for retail, and 8,940 for the ground-level garage. Unit types include 52 studios, 74 junior one-bedrooms, 58 one-bedrooms, and 104 two-bedrooms. Of the 289 apartments, 13 will be designated affordable to very low-income households, translating to half of the area median income. The garage will include parking for 40 cars and 95 bicycles.

“In approving our project, the Planning Commission endorsed our efforts as what housing development should be in the Bay Area and appreciated our respect for the history and legacy of this community,” said Tidewater Capital Construction Director, Kyle Winkler. “We are committed custodians of the project and engaged with all stakeholders involved as we support the re-emergence of retail and entertainment uses in the neighborhood.”

Present at the 533 Kirkham planning meeting was West Oakland Blues Society Executive Director Ronnie Stewart who said to the panel, “Very seldom does a developer call me to ask ‘what can we do to perpetuate the legacy of 7th Street?’ I am fully in support of this project.”

Solomon Cordwell Buenz is the project architect that has designed an exterior wrapped with textured grey and green granite panels over an Exterior Insulation Finishing Systems facade and metal panels for the carved-out Juliet balconies. The ground level will feature floor-to-ceiling glass around the retail spaces.

1431 Franklin will rise 413 feet with a total of 501,060 square feet, 421,056 of which will be dedicated to housing. Unit types include 64 studios, 148 one-bedrooms, 150 two-bedrooms, and 19 three-bedroom units. Of the 381 units, 39 units will be designated affordable to very low-income households, translating to half of the area median income. There will also be 167 parking spots provided over four levels in an above-ground structure.

The project team worked hard over the course of the project to form close relationships with the community. Eight outdoor markets were held on the existing lot to support over 200 local small businesses. Tidewater designed and provided materials for a new street parklet on 15th street to support local merchants. Lastly, Tidewater engaged early with the African American Museum and Library of Oakland and the Malonga Casquelourd Center to direct a portion of the project’s public art budget to these city-owned art facilities for future capital improvement projects.

LARGE Architecture designed the project with a panelized punched window exterior composed of light-colored brick façade and vertical bronze fins in order to contextualize the exterior with the surrounding Historic District. The ground level will feature floor-to-ceiling glass.

About Tidewater Capital

Tidewater Capital, headquartered in San Francisco since its founding in 2013, is a leading real estate investment manager and developer focused on the San Francisco Bay Area. The firm sponsors discretionary investment vehicles that acquire, reposition, develop, and operate a diverse array of high-quality residential, industrial, and office assets, along with a select mix of niche property types, including retail, self-storage, parking, and hospitality assets. Tidewater seeks to generate compelling investment returns for university endowment, charitable foundation, and family office partners through a value-oriented and patient approach to investing in and developing real estate.  For additional information about Tidewater, please visit www.tidewatercap.com.