Tag Archives: Equity Residential
The developer who wants to build an 18-story apartment building over the Walgreens at 2190 Shattuck Ave. will also be building a 205-unit complex along University Avenue.
Mill Creek Residential Trust has purchased the row of historic buildings along University Avenue between Shattuck and Oxford owned by Equity Residential and slated to become the Acheson Commons complex, although no construction ever started. The sale happened in mid-July. The price was not disclosed, but the assessed value of the various properties is more than $20 million.
Mill Creek Residential, which has an office in Menlo Park but headquarters in Texas, plans to revive the stalled project and begin construction in early-to-mid-2017, according to Jason Overman, a director at Lighthouse Public Affairs, the firm Mill Creek Residential hired to handle its public relations. Construction will take at least two years.
“They were really drawn by how vibrant Berkeley is,” Overman said in an email. “It’s an incredibly dynamic city, and they’re excited to be part of the community. And there’s obviously a tremendous need for housing. They are excited to see this project through.” … Continue reading »
Update: 8:30 p.m. A Berkeley firefighter received minor injuries in the two-alarm fire that broke out at 3:43 p.m. in a rear courtyard stacked with wooden pallets directly behind UC Theatre’s small space at 2115 University Ave., according to Deputy Fire Chief Donna McCracken.
The fire, which sent black smoke billowing above downtown Berkeley, mostly damaged some old attached shed structures, she said. A small part of the building’s interior was also damaged. The building has the address 2113 and 2111 University Ave.
Update: 5:35 p.m. Deputy Fire Chief Donna McCracken said the fire department has extinguished most of the blaze, but there are hidden pockets of fire in the walls and ceilings which firefighters are chasing. The five-story apartment building next door, at 2119 University Ave., has been evacuated. The offices for UC Theatre and the vacant Krishna Copy store have been affected by the blaze. University Avenue is closed from Shattuck to Oxford, she said. … Continue reading »
A broken elevator at a Berkeley apartment building owned by Equity Residential has left numerous tenants with mobility issues in the lurch this holiday season, and building management has been slow to handle the problem, residents report.
The single elevator at The Acton Courtyard, at 1370 University Ave. (at Acton Street), broke down 11 days ago, Nov. 13, after months on the fritz, tenants say. At least six tenants in the building have mobility impairments. The broken elevator has left them “trapped in their apartments or stranded outside of them,” according to a Nov. 20 letter sent to Equity by Disability Rights Advocates.
“This means that they have either been completely shut off from the outside world or completely stranded within it—unable to cook, unable to access their clothing or other possessions, and denied the basic comforts of their homes,” according to Disability Rights Advocates, a Berkeley-based nonprofit and nationally recognized legal center focused on disability rights.
The letter was written on behalf of tenants Dominika Bednarska and her partner Perlita Payne, who have lived in the building for more than three years, along with other unnamed residents. Bednarska uses a scooter to get around, and Payne has chronic knee pain that makes climbing stairs difficult. The couple live on the fifth floor at The Courtyard, and have been in a hotel since the Nov. 13 elevator breakdown. Equity is covering the hotel costs, but tenants say the company has not taken the problem seriously enough. … Continue reading »
Equity Residential, which owns eight buildings with 452 apartments in Berkeley, as well as the entitlement rights to build the 205-unit Acheson Commons complex on University Avenue, is putting its entire Berkeley portfolio up for sale.
No price is mentioned on the listing documents prepared by Eastdil Secured, Equity’s advisor and broker, but the sale should be in the hundreds of millions of dollars. That could mean millions of dollars in transfer taxes for Berkeley’s general fund. … Continue reading »
Acheson Commons, the largest apartment complex ever planned for Berkeley’s downtown, is set to go forward after its opponents decided not to file a challenge to the plan.
A coalition of unions, preservationists, community activists and Rent Board members did not file an appeal to a recent ZAB ruling by the deadline, Monday, July 8, at 5 p.m. That means the 205-unit project slated for 2133 University Ave. could be completed in the next three years.
“I think this project is a cornerstone to the revitalization of the downtown, at least the northern end of it,” said Mark Rhoades, a former city planner whose Rhoades Planning Group is representing the developer, Chicago-based Equity Residential. … Continue reading »
The view from the L-shaped deck off the penthouse apartment at 2055 Center St. is spectacular. One side looks west toward San Francisco Bay and the Golden Gate Bridge. Another side offers a sweeping vista of Berkeley’s downtown and hills.
For $6,300 a month, the amenities ought to be top-of-the-line, and at the recently opened Berkeley Central — formerly known as the Arpeggio Building — they are. From Bosch appliances and stainless steel designer lights to the wood floor (dark or light, depending on the unit), the six penthouse units on the ninth floor promise an urbane, urban lifestyle.
The building, which the developer CityView acquired in a fire sale in July 2012 for $60 million, has been open for about seven weeks, and about 35% of its 143 units have been leased, according to Natasha Moses, a property manager for Riverstone Residential Group, the leasing agent. … Continue reading »
One of the first projects to be built under Berkeley’s recently adopted Downtown Area Plan will be Acheson Commons which will transform the entire city block bordered by University Avenue, Shattuck and Walnut streets, and Berkeley Way.
The project, which has been under discussion for some time, was the subject of a rare joint meeting of the Landmarks Preservation Commission and the Design Review Committee on March 29.
The proposal for the area sees the creation of 205 new residential units and above-ground floor retail space. The developer is Equity Residential, of Chicago which builds and owns rental housing projects nationwide. EQR previously purchased the Bachenheimer Building at 2119 University Avenue from local developer Patrick Kennedy, and subsequently bought the adjacent properties. … Continue reading »