San Francisco- (September 30, 2016) – GID announced today the formation of a joint venture partnership with The Hanover Companies to develop Hanover Northgate, a luxury apartment community located in Oakland, California. Construction will commence immediately. The first residences are anticipated to be available in the fall of 2018. This joint venture is the second in the Bay Area and the sixth overall between GID and The Hanover Companies.
The mixed-use building will include 225 apartments and a sizable retail footprint with almost 23,000 square feet of ground floor space. The seven-story property will feature three resident courtyards, barbeque grills, and fire pit. Other amenities include a fitness center, club room, and large lobby with a lounge area. The luxury residences will feature ten-foot ceilings, solid surface countertops in kitchens and baths, stainless steel appliances, and hardwood floors in the living areas.
The site is located adjacent to the Uptown neighborhood of Oakland at the corner of Valdez and 24th Street. It’s a short walk to the 19th Street BART station, Lake Merritt and many of the bars and restaurants in Uptown. Future residents will be a short walk to Oakland office-sector employment and a quick commute to San Francisco via BART.
Matt Stuart, Senior Vice President and Director of Western Region Acquisitions at GID commented, “GID is pleased to continue to grow our relationship with The Hanover Companies in Northern California. Hanover Northgate will offer a location that is proximate to employment, retail, BART and recreational amenities. The addition of this building along with several others in the area will help create a vibrant neighborhood for residents and a desirable investment for GID.”