Creative Development Partners is committed to the vision proposed below for One Lake Merritt. We are currently in pre-development on a similar project in San Jose. Stay tuned.
OUR EXPERIENCE - FINANCING
New Markets tax credits
Historic Tax Credits
Low-income housing tax credits (state and federal)
Real Estate Investment Trusts
Private equity and debt
Inclusionary and linkage programs for housing and jobs
Affordable housing trust funds
Private equity fund with triple bottom line
For-profit, market-rate real estate developers
State housing finance agencies
State highway authority
Our experience - Development
Boston area / SF-Bay area / Greater DC area
Housing, Retail, Office,
Housing, Retail, Office,
SF BAY AREA
Jack London Gateway Senior
Housing and Shopping Center
Residential and commercial
Lillie Mae Jones Plaza
Mixed-use, Retail, Office
GREATER DC AREA
City Center, DC
Housing, Retail, Office, Hotel
The Heights, DC
The VUE, DC
Concept One Lake Merritt Blvd. creates one of the biggest opportunities for Oakland- ever. The redevelopment and rejuvenation of the historic Henry J. Kaiser Convention Center, and “rebirth” as the Oakland Auditorium, will be combined with a new art museum hotel, multiplying the assets of our neighboring and partnering institutions, the Oakland Museum of California and Laney College. An innovative workforce development program will provide training and career-track employment for hundreds of Oakland residents in the project’s Hospitality, Creative Arts and Building Facilities Maintenance operations.
On the shores of the best urban lake in America, One Lake Merritt Blvd. will serve as the lynchpin for the redevelopment and increased economic vitality of the surrounding neighborhood and generate tremendous economic impact for the City of Oakland.
This project sets a new standard for the arts and hospitality in Oakland and the Bay Area. Our proximity to the Museum and Laney College, along with unbeatable transportation access, creates a campus-like setting for the broadest range of events, activities and user groups. With One Lake Merritt, the current primacy of Oakland as a global arts destination is fused with its deep past as a cultural mecca, through the rebirth of the historic Oakland Auditorium, where all the greats played- James Brown, Elvis Presley, The Grateful Dead and so many more. The new Oakland Auditorium will host concerts, conferences and trade shows, cultural, community and sporting events, with direct access to the art museum hotel, which will be the finest in Oakland. The lifestyle brand hotel will provide an arts-integrated environment and comfortable lodging experience for travelers, making it the only place you’d want to stay in Oakland.
280 upper-market hotel rooms
100,000 square feet of concert, conference and event space
Signature restaurant and bar
Publicly accessible art and exhibition space
Baked-in community benefits including an integrated workforce development program and the creation of a new cultural arts district
Stunning views of Lake Merritt, Oakland Museum gardens, the Estuary, Oakland and San Francisco skylines
Accessible to mass transit, major airports, convention and tourist destinations in San Francisco and the region
Adjacent to the planned Lake Merritt BART Station Transit Oriented Development, Oakland Unified School District development site and high-rise residential tower development site.
Close to arts, cultural and dining activities
This project anticipates a blend of the following sources of finance:
• Tax exempt and taxable bonds
• Historic and New Market Tax Credits
• Private equity, social venture and additional funding sources
Oakland, home to Fortune 500 companies and tech innovators, has recently been ranked as a top destination for tourism and doing business. The development of One Lake Merritt Blvd. coincides with the return of Oakland’s downtown economy, the strong need for new hotel rooms, and the renaissance of Oakland’s art, food, tourism and technology communities. • 2.75 million visitors to Oakland per year • 9.2% increase in average daily rate from 2011-2012 • Demand for hotel rooms grew by 6 percent over last year - the highest in California
Unfortunately, in 2015, the City of Oakland awarded the site to another developer, and to this day, the selected developer has not made any progress towards redeveloping the property. Creative Development Partners is currently in pre-development on a similar project in San Jose.