Oakland Awarded $1 Million State Grant for First-time Homebuyers Mortgage

Assistance Program

The City of Oakland has been awarded a $1 million grant from the California State Department of Housing and Community Development's CalHome Program. The grant will provide mortgage assistance for approximately 20 first-time homebuyers who are purchasing a home in Oakland.

For the complete news release, click here.

City Joins With Local Merchants to Market Old Oakland Historic District
Marketing Efforts Coincide with Physical Improvements

The City of Oakland's Cultural Arts & Marketing Department has joined with the newly-formed Old Oakland Historic District Business Association (OOHDBA) to promote the district as a shopping, dining and art destination. The enhanced marketing efforts, which include new events, a recently published brochure, improved street signage and beefed up advertising, coincide with a variety of physical improvements in the district.

For the complete news release, click here.

Downtown Oakland Re-Emerges as Apparel Shopping Destination
Recent Openings Expand Retail Options in Oakland

With recent openings and additional stores slated to open in the next few months, downtown Oakland is re-emerging as a destination for apparel shopping. With more than a dozen clothiers offering apparel ranging from sportswear to high fashion attire, this concentration offers a selection that rivals many Bay Area malls.

For the complete news release, click here.

December Employment Picture Continues to Improve

December's preliminary unemployment figures were posted on January 16, 2004, and the news for Oakland was good.  The City's official unemployment rate dropped to 8.51%. This is the lowest monthly rate in Oakland since July 2001, which marked the beginning of a two year period of high unemployment rates. 

There were 6,000 fewer unemployed Oakland residents in December 2003 than in July 2003, which was the high unemployment point of the year. The unemployment rate during that six month period declined 2.72 percentage points. That level of decline was the steepest since at least 1989, and in all likelihood much longer. In ratio terms, the unemployment rate decline 25% during the second half of 2003.

The unemployment rate decline of more than one full percentage point between November and December (from 9.59% to 8.51%) is the largest single month decline since at least 1989. It may be the single largest monthly rate drop in Oakland history. This is a larger drop than Oakland's typical annual December rate decline, and is particularly noteworthy in light of federal rate data which shows unemployment remained flat in December nationwide.

EDD's city-level rate calculation methodology uses proportions of employment found in the 1990 Census. Using unofficial data from the 2000 Census, Oakland's rate is even better, at 8.23% for the month of December.

EDD does not make seasonal adjustments to employment data at anything below a statewide level. Using a rough method of seasonally adjusting City of Oakland data from 2003, the trend for the year shows a steady decline in unemployment throughout the year.

It bears noting that December is historically Oakland's best annual employment month, and as such rates are likely to edge back upwards for January. Nevertheless, the trends seen throughout 2003 suggest that employment conditions in Oakland are poised to continue their improvement through 2004.

Oakland: City of Opportunity

During the annual Building Oakland breakfast hosted by the San Francisco Business Times on December 5, 2003, Interim City Manager Deborah Edgerly delivered a PowerPoint presentation entitled Oakland: City of Opportunity which highlighted recent accomplishments in Workforce Development, Business Attraction, Residential Housing, Commercial Leasing and Redevelopment.  Oakland: City of Opportunity can be downloaded as a PDF file. (5.31 MB)

Whole Foods Market to Open in Oakland
High Quality Grocer Latest Entry in Oakland Retail Surge

The City of Oakland has announced that a long-term lease has been signed to bring a 40,000 square foot Whole Foods Market to the former Cox Cadillac building in Oakland's Adams Point neighborhood, just east of Broadway near the Uptown area of downtown. Whole Foods, Inc. is the world's largest retailer of natural and organic foods. The Oakland store is expected to generate approximately 150 full and part-time jobs for area residents. The mixed-use project also includes up to 125 condominium units and a parking garage with 330 stalls.

For the complete news release, click here.

Oakland Clears Way for New Infiniti Dealership
City Sells Four Acres Along I-880; 47 New Jobs Expected

The City of Oakland's Redevelopment Agency has authorized the sale of two land parcels totaling 4.35 acres on Oakport Street for $3,318,047, or about $17.50 per square foot. The development agreement with the Hendrick Automotive Group calls for the creation of a new Infiniti automobile dealership with 47 new jobs in the areas of management, sales, service, parts and administration. The sale reflects the trend of retailers, including auto dealers, to locate along the I-880 corridor near Hegenberger.

For the complete news release, click here.

Holiday Shopping Opportunities Abound in Oakland
Shopping in Oakland Made Easier with Free Parking, Shoppers' Contest

Holiday shopping in Oakland? Indeed - hundreds of unique items from around the globe await the eager holiday shopper in 35 diverse neighborhood shopping districts throughout Oakland. Add the convenience of free parking, colorful take-away shopping bags, a shoppers' contest, plus a host of festive holiday events - and shoppers can actually enjoy this holiday shopping season!

For the complete news release, click here.

Oakland Named Fourth-Best Commercial Real Estate Market in U.S.

Moody's Investors Service's quarterly study of U.S. markets, ranked Oakland as the fourth-best commercial real estate market in the country for the first quarter of 2003. 

The Oakland metro area, which includes Alameda and Contra Costa counties, scored 17 and 16 points higher than San Jose and San Francisco, respectively. 

"Oakland has performed much better than other California markets, and we see considerable momentum for the area going into the second half of the year," said Thomas Irish, president of Transpacific Development Co., whose 27-story Lake Merritt Plaza office tower in Oakland is 91 percent leased.

Third Annual Small Business Symposium

Oakland Councilmember Larry Reid (District 7) hosted the Third Annual Small Business Symposium on Thursday, June 26, 2003, from 7:30 a.m. to 5:00 p.m. at the Oakland Marriott City Center . Highlights included a full roster of 36 workshops, a luncheon keynote address by Patricia A. Means, publisher of Turning Point Magazine, and the Avant! Foundation's Annual Magic Awards. With registration at maximum capacity for the third consecutive year, the Symposium was attended by more than 600 existing and prospective business owners from the greater Oakland metropolitan area.

"This symposium is designed to provide entrepreneurs with the tools to survive and thrive in today's economy," said Councilmember Reid, founder of the annual event. "This year, exciting new workshops have been designed especially for youth and women entrepreneurs." The day-long Youth Entrepreneurship Workshop taught 50 aspiring young entrepreneurs the basics in starting and owning their own businesses. In addition, multiple workshops and panel discussions addressed the unique challenges and opportunities faced by women entrepreneurs.

A major highlight was the luncheon keynote speaker, Patricia A. Means, publisher of Turning Point Magazine and a nationally-recognized advocate for small business development. Means began publishing the popular magazine in 1992, and marked its 10 th anniversary by expanding distribution nationwide. Today, Turning Point Magazine is positioned as the nation's No. 1 information and resource provider for African American small business owners.

Immediately preceding the luncheon keynote address, the Avant! Foundation presented $10,000 grants to each of this year's 15 MAGIC Award recipients. Designed to identify and reward individuals who have made a significant contribution to their communities, the MAGIC Awards drew more than 500 nominations from throughout the entire Bay Area. The Avant! Foundation administers the awards as a way of saying thanks and encouraging others to become involved in community work.

Presented by the City of Oakland , the Third Annual Small Business Symposium was sponsored by Allstate Financial Services, Wells Fargo, the City's Community and Economic Development Agency and the Port of Oakland.

Transit-Oriented Development Summit
On March 28, 2003, the Community and Economic Development Agency brought together more than 150 local developers and owners of properties designated by the City of Oakland as potential sites for transit-oriented residential and mixed-use development. A major success, the first-ever Transit-Oriented Development Summit was designed to help property owners increase their investment while enhancing the Oakland community. The Oakland residential market remains very strong. Demand is steady as the need for Bay Area housing continues to accelerate. Mayor Jerry Brown's drive for 10,000 new downtown residents is coming to fruition and scores of housing units are in the pipeline all over Oakland. These market conditions, combined with the City's pursuit of infill residential and mixed-use development along major transit corridors, have brought about an exciting opportunity for both developers and property owners. The March 28 summit offered property owners a preview of transit-oriented development opportunities in Oakland and a chance to meet residential and mixed-use developers who may have an interest in either purchasing property or partnering with property owners to improve Oakland's neighborhoods. The Summit set the wheels in motion for multiple development projects along Oakland 's major transit corridors. Numerous development opportunities continue to abound throughout Oakland - and there is still time to get in on the ground floor. Investment in Oakland is at an all time high with more than 60 major development projects underway or recently completed - and more are on the horizon! We invite you to explore myriad development opportunities that wait you here in Oakland - and have streamlined city government to ensure that projects move quickly through the development process. To get the ball rolling on your development deal here in Oakland, please contact Rosie Rios, Director of Economic Development and Redevelopment, at rrios@oaklandnet.com or (510) 238-6178.   Oakland Now:  Special Issue on Transit-Oriented Development (downloadable PDF)
Oakland Neighborhoods Propel San Francisco’s Ranking Among Top Ten Places to Live in America
Montclair, Rockridge Neighborhoods Cited in 2002 Money Magazine Survey NOVEMBER 2002 - Two Oakland neighborhoods – Rockridge and Montclair – were cited in Money magazine’s 2002 survey that ranks San Francisco among the top ten places to live in the U.S. In the annual survey released Tuesday, both neighborhoods were recognized as “alternatives for people who want a big city lifestyle without the big city expenses.” “Oakland is the best kept secret in the Bay Area,” commented Oakland Mayor Jerry Brown, who is pleased that Oakland is beginning to be recognized as an asset to the entire Bay Area region. “This is a fabulous place to live.” The survey highlights the two Oakland neighborhoods, noting that “Montclair, in the lower Oakland Hills, is a neighborhood of attractive older homes – it was largely spared in the 1991 wildfire farther uphill – where houses can still be had for under $500,000. Rockridge is a similarly bucolic, tree-shaded area, but pricier because it straddles the border with Berkeley.” For this first time, the annual survey focused on the neighborhoods and suburbs that make the top 10 cities great. Money reporters went into top 10 cities to discover outlying neighborhoods that are small, attractive parts of the whole region. The reporters sought neighborhoods with attractive streetscapes, good schools, community spirit and plentiful recreation with “an eye toward affordability.” In addition, residents, real estate agents and business people were queried about where they live, as well as where they wish they could live. For the whole story, visit Money.

Oakland Completes Deal with Army for Oakland Army Base
OCTOBER 3, 2002 - Oakland Mayor Jerry Brown announced that the United States Army has agreed to transfer the former Oakland Army Base to the City at no cost. “We still have some hurdles ahead,” said Mayor Brown, “but after marathon discussions we are now in a position to complete the toxic clean-up and prepare the base for maritime and commercial uses. This will bring hundreds of millions of dollars to the local economy and create thousands of jobs.” The City envisions a major expansion of the Port of Oakland’s marine terminal facilities and a new commercial “Gateway” development near the Bay Bridge touchdown that will provide a signature entryway into Oakland. Together, the projects will generate more than 8,000 new jobs. The City will receive approximately 366 acres of the 425-acre base through a no-cost Economic Development Conveyance (EDC) from the Army. The no-cost mechanism, initiated by the administration in 1999, allows recipients of former military bases to realize the economic benefits of the properties by directing resources into development rather than purchase. The military branch realizes savings by avoiding prolonged maintenance and caretaker expenses. The City's Redevelopment Agency and the Port of Oakland will each develop significant portions of the base. Following deed transfer from the Army, the City will convey approximately 230 acres, including 56 submerged acres, to the Port, according to the terms of an agreement signed by the two agencies. Part of the City’s transfer agreement that was signed in late September is a commitment from the Army to fund $13 million for the costs of environmental remediation, which the City will conduct post-conveyance. The Environmental Services Cooperative Agreement (ESCA) codifies the agreement. The agreement allows the conveyance of the base from the Army to proceed by transferring the Army’s cleanup responsibilities to the City. State regulators agreed to a cleanup plan that will be consistent with planned uses, known as the Brownfields approach. Oakland Army Base was slated for closure by the federal Base Closure and Realignment Commission (BRAC) in 1995. The Army closed the base in 1999. Since then, OBRA has operated a highly-successful leasing program, with approximately 70 tenants occupying some 3 million square feet of space. Leasing revenues will help OBRA with the costs of developing the property. The base was commissioned by the Army in 1941.

Oakland Army Base Receives $2.4 Million Federal EDA Grant
SEPTEMBER 23, 2002 - Assistant Secretary of Commerce for Economic Development Dr. David A. Sampson will announce a federal public works grant of $2.4 million for the Oakland Base Reuse Authority (OBRA) when he visits Oakland on Monday, September 23, 2002, to give the lunchtime keynote address at the annual conference of the International Economic Development Council (IEDC). The $2.4 million grant award from the U.S. Department of Commerce Economic Development Administration (EDA) is the federal share of a $3.2 million public works project. The federal grant will allow OBRA to design and engineer the core infrastructure for the city’s planned Gateway Development Area at the former Oakland Army Base. OBRA is the local reuse authority charged with planning reuse of the base.

Oakland’s High Tech Job Growth Highest in State
SEPTEMBER 2002 - Silicon Valley may be down, but the number of high tech jobs in Oakland grew 2.7 percent in 2001, according to a new survey of the state's high-tech economy released in September 2002 by the American Electronics Association. Oakland’s growth rate was the best in the state. The survey of eight regions, from Sacramento to San Diego, found that while San Jose was the leading "cybercity" in the state the number of tech companies in Oakland grew 57 percent from 1995 to 2000. This is the second highest growth rate in the state. The cost of doing business in San Jose and San Francisco is driving more tech companies to Oakland. As a result, the city's tech employment continues to rise.