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December 13, 2017
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Affirmed Housing Group Buys Vacant Development Site in Oakland

8/08/17

Affirmed Housing Group Inc purchased a vacant land development site entitled for a 43-unit mixed-use project in Oakland for $3.49 mil. The City of Oakland has approved 41 residential units and two commercial units at the 12.1k sf site, located at 657 W. MacArthur Blvd.

The land was entitled and sold by 657 W MacArthur LLC, a partnership between Smart Growth Development, BuildZig and Cirius Green Ventures. The entitled land attracted numerous offers before the winning bid was awarded to Affirmed, an affordable housing developer.

According to Christopher Porto, Managing Member, Smart Growth Development LLC, the planned project was envisioned to adhere to the 'smart growth' principles of urban infill, transit-oriented, and mixed-use development. It was also designed to be operated as a net zero energy building with, hopefully, a large solar PV array on the roof. The development’s transportation amenities such as proximity to BART, access to AC transit buses, ample bike parking and electric vehicle car share service powered by the on-site renewable energy will allow the residents to have a low-carbon lifestyle.

Keith Manson and Zachary Greenwood with CBRE listed the property and represented the seller in the transaction. BuildZig, the fee-developer of the entitlement portion of the project, is an Oakland-based development services company. Los Gatos-based Cirius Green Ventures provided a significant equity investment for the project.





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