Lowney Architecture

Monthly Archives: August 2017

Bisnow: Why this Cycle is Different for Oakland Multifamily

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Developing in Oakland is a point of pride for St. Regis Properties Director of Development Sam Remcho. While the Oakland native started his career as a broker, he always wanted to develop and loved the idea of working with land and construction. He teamed up with St. Regis Properties Chairman John Allen and President Nick Allen in 2012. The family-owned Bay Area-based business has since made strides to build more housing in Oakland and throughout the country.

“We like Oakland because of the people, the open space, the ease of transportation, the great weather, the employment opportunities and the overall quality of life,” Remcho said. St. Regis Properties is part of a growing group of developers building housing in Oakland. With housing projects becoming too difficult to pencil and more red tape in San Francisco, developers are preferring to build housing in the East Bay, where the housing need and demand is just as high. Large employers also are moving into Oakland and the East Bay, where many of their employees live. Oakland has shed its label of being a secondary market to San Francisco, and developers are recognizing it as a market unto itself. “Oakland has its own culture and own attraction,” Remcho said. “You can do everything you want here. There is fine dining and entertainment.” Housing is in high demand in Oakland as well and new projects are leasing up quickly. St. Regis Properties has three projects in the works and one completed project. Its first Oakland project, Idora, a JV with Signature Development in the Temescal neighborhood, is nearly leased up since it was completed in April. The 33-unit apartment complex includes 2,400 SF of retail, which could be filled in part by a restaurant, according to Remcho.

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The Top 5 Issues Impacting The Future of Silicon Valley Multifamily

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Our President Ken Lowney recently spoke on the Silicon Valley Multifamily panel for Bisnow which touched on key issues affecting the future of multifamily housing. Read the full article here