of the 900 acres of commercial land that had been put to
industrial use in the Port area between Clay Street and Hegenberger
Road is being transformed through $1.2 billion worth of new development.
Warehouses, parking lots, and vacant land will be converted into
homes, hotels, offices, shops, restaurants, parks and industrial
flex/research and development projects.
The majority of the land
came to the Port years ago as part of a State Tidelands Trust
grant. In some cases, the Port has sold property to help finance
waterfront projects. In most cases, the Commercial Real Estate Division
has entered into agreements with development teams to ground lease
and develop the projects using private funds to leverage new public-private
development. The current plans call for a mix of the two.
The various CRE projects are expected to contribute new revenue, jobs and public access for Oakland.
The mission of the Port's Commercial Real Estate
Division is to care for, promote, develop and enhance Oakland's
urban waterfront for economic benefit and public enjoyment.
Commercial Real Estate Customers Include:
- Many businesses and individuals who develop
and/or lease Port land, buildings, marinas and other facilities;
- Employees and patrons of those businesses;
- Users of the public spaces such as streets,
plazas, piers and promenades; and
- Other Port divisions.