For Immediate Release
April 24, 2001

Port commissioners voted unanimously Tuesday, April 24, 2001 to approve Jack London Square Partners (local developer Ellis Partners, James Falaschi and Cargill) as the new master developer for Jack London Square Phase II. The project is a public-private collaboration involving the Port of Oakland, City of Oakland and Jack London Square Partners.

The Port of Oakland entered into an Exclusive Negotiating Agreement (ENA) with Jack London Square Partners last December. That agreement called for both the Port and JLS Partners to complete substantial due diligence and negotiate a lease prior to approving an actual development plan. Both the Port and JLS Partners met the requirements.

With regard to today's Board action, First Vice President of the Port of Oakland's Board of Port Commissioners Peter Uribe said, "The Port conducted a national search and is delighted that the local team Jack London Square Partners, undertook the rigorous process in order to qualify as master developer for Jack London Square." Uribe stated, "JLS Partners has demonstrated a commitment to Oakland and sustainable development. The Port of Oakland is a steward of the waterfront and we are certain that Jack London Square Partners joins us in that role."

Hal Ellis with Ellis partners said, "As natives of Oakland and long time East Bay residents, Jim Falaschi and I have profound personal commitments to the quality of life in our city now and for future generations. We intend to create a project that will enhance public access to the waterfront, pedestrian uses, alternative transit and expand neighborhood, city, and regional- serving retail."

Development plans are underway for the project, which focuses on the Oakland Waterfront below Embarcadero, between Martin Luther King Jr. Way and Oak Street. The project is subject to the requirements of California's Environmental Quality Act (CEQA).

Port of Oakland's Director of Commercial Real Estate Omar Benjamin said, "Jack London Square is a spectacular site on the water, with anchor entertainment venues and a robust economy. We are glad to be another step closer to realizing a sustainable development for our Phase II project at JLS-one that will bring more benefits to the public including waterfront access, increased city revenues and good-paying local jobs."

James Falaschi, principal partner with Jack London Square Partners commented "All planning efforts will occur entirely within the parameters of Oakland's 1999 Estuary Plan. As a local team committed to sustainable development, we will honor the Estuary Plan's policies particularly with respect to landscape preservation, connecting the waterfront to the City and economic benefits. The Estuary Plan is required reading for everyone on our team."

Contact:
Harold Jones
Communications Director
(510) 627-1564
hjones@portoakland.com

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