Port of Oakland - Newsroom

Port of Oakland Selects Master Developer for Extraordinary Waterfront Opportunity
(Port of Oakland's Board approves Oakland Harbor Partners, LLC as Master Developer for the Oak to Ninth District Properties)

Port of Oakland Commissioners voted Tuesday, September 4, 2001 to approve Oakland Harbor Partners, LLC (Signature Properties, Reynolds and Brown and Bay Area Smart Growth Fund I) as the new master developer for the Port's Oak to Ninth 60-acre parcel.

"On behalf of the Port of Oakland Board of Port Commissioners, I am pleased to announce that the Board selected Oakland Harbor Partners to design and develop a first-class mixed-use project on Oakland's largest remaining waterfront development site," stated Chuck Foster, the Port's Executive Director.

The 60-acre parcel is centrally located on the Oakland Estuary minutes from vibrant Jack London Square and downtown Oakland. It is in the Oak-to-Ninth District, which encompasses about 120 acres of land. Approximately 75 percent of the district is under Port ownership. The area is presently characterized by warehousing, manufacturing, an artists community, distribution, storage and transportation.

With regard to today's Board action, President of the Board of Port Commissioners Phil Tagami said, "We are delighted to have Oakland Harbor Partners (Signature Properties, Reynolds and Brown and Bay Area Smart Growth Fund I) as the master developer for the Oak to Ninth parcel. This team has extensive experience with complex and challenging projects and a proven commitment to Oakland."

Port of Oakland's Director of Commercial Real Estate Omar Benjamin stated, "Oak to Ninth is an ideal location for development of a new neighborhood. It presents an extraordinary opportunity to transform underused land into a thriving urban area. This development has a potential value in excess of $500 million and allows for greater public access to the waterfront." Benjamin added, "Our goal during the Port's expansion project is to create a waterfront that meets the needs of Oaklanders and the entire region."

The Estuary Policy Plan represents the policy framework for the transformation of the area from Port-related industrial uses to a new urban waterfront. The Plan was prepared jointly by the City and Port with substantial public input and was adopted into the Oakland General Plan in June 1999.

Oakland Harbor Partners, LLC includes Signature Properties, Reynolds and Brown and Bay Area Smart Growth Fund I. Signature Properties is a privately held California corporation dedicated to the development of high quality mixed-use projects, master planned communities, new home neighborhoods and commercial/retail properties. Since its founding in 1983, Signature Properties has constructed more than 5,000 condominium and single-family residences throughout the greater Bay Area and Sacramento area, as well as the development of over 1 million square feet of office and retail properties.

Reynolds and Brown has developed more than 8 million square feet of commercial real estate. It has established an impressive history of success in development of real estate throughout the San Francisco Bay Area since its founding in 1963. The Reynolds and Brown portfolio includes a diverse balance of retail centers, business parks, research and development parks, mid-rise office buildings, entertainment and recreational complexes, warehouse and distribution facilities and residential properties.

Bay Area Smart Growth Fund I invests in mixed-use, mixed-income commercial, industrial and housing developments. Private investment managers with strong track records manage the funds. The investors in the funds include banks, institutional investors and other corporations.

Port of Oakland staff will now enter into negotiations and execution of an Exclusive Negotiating Agreement (ENA) covering the Specific Plan and Master Development of the Oak to Ninth District properties.


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