OAKLAND, Calif.--(BUSINESS WIRE)--On Thursday, March 13, Signature Development Group and Zarsion America will hold a groundbreaking ceremony for Brooklyn Basin, a vibrant new waterfront community now under construction on the Oakland Estuary just south of Jack London Square.
More than 12 years in the making, this world-class redevelopment will transform a neglected, 64-acre industrial area into a lively new residential neighborhood.
California Governor Jerry Brown has estimated that Brooklyn Basin will deliver 10,000 short- and long-term jobs. When completed, Brooklyn Basin will feature more than 30 acres of new city parks and publicly accessible open space. A residential mix of apartments, condominiums, lofts and townhouses will be built as part of the $1.5 billion development.
The waterfront community will encompass 200,000 square feet of retail space, the renovation of the Clinton Basin and 5th Avenue marinas, preservation of a portion of the historic Ninth Avenue Terminal and extensive wetlands restoration. It will serve as a new link in the San Francisco Bay Trail and eventually connect to Lake Merritt via bike and pedestrian pathways.
“Brooklyn Basin is a key component to the downtown and waterfront revitalization effort that’s occurring in Oakland,” said Michael Ghielmetti, President of Signature Development Group, the project’s lead developer. “We want people to relish the lifestyle that these parks, open spaces, marinas and event spaces will provide.”
He added, “Brooklyn Basin is the culmination of years of planning and community input and will revitalize this part of Oakland’s historic waterfront.”
GROUNDBREAKING CEREMONY DETAILS
The Honorable Jean Quan, Mayor of Oakland
The Honorable Nangshang Yuan, Consul General of China
Weixun Shan, Chairman of Beijing Zarsion Holdings Group Co. Ltd.
Mike Ghielmetti, President of Signature Development Group, Inc.
In addition, there will be an array of speakers from the City of Oakland, including representatives from business, labor and community groups.
WHEN: Thursday, March 13, 2014 at 10 a.m.
WHERE: Brooklyn Basin Project Site, corner of 10th Avenue and Embarcadero, Oakland, CA 94606
This is an invitation-only event. To attend, media representatives only should RSVP to firstname.lastname@example.org.
About Zarsion-OHP I, LLC
Zarsion-OHP I, LLC is the legal entity that holds title to Brooklyn Basin. It includes California-based Zarsion America and Oakland Harbor Partners.
Zarsion America is a subsidiary of Beijing Zarsion Holdings Group Co. Ltd. Weixun Shan is Chairman of Beijing-based Zarsion, a company he formed in 1994. With offices in five cities in China and a staff of 1,200 employees, Zarsion Holdings develops approximately 10 million square feet of commercial and residential projects per year.
Oakland Harbor Partners is comprised of Signature Development Group, Signature Homes and Reynolds & Brown.
Signature entities have built a track record for developing high-quality mixed-use projects, residential master-planned communities, new home neighborhoods and commercial and retail properties. The Signature companies have entitled or built more than 20,000 homes and homesites throughout Northern California, as well as 2 million square feet of office and retail development. Signature Development Group is headed by Michael Ghielmetti. James Ghielmetti is the founder and CEO of Signature Homes.
Reynolds & Brown, co-founded in 1967 by Jon Reynolds and David Brown, is among the East Bay’s pre-eminent developers of industrial, office and retail properties. Dana Parry is its president and CEO. Both Reynolds & Brown and Signature have a long history of successful development in the Oakland area.
For more information, visit www.BrooklynBasin.com.