An agreement approved by the BART board of directors raises the promise of both construction jobs and affordable housing within walking distance of the Coliseum/Oakland Airport BART Station. The board voted unanimously to authorize an Exclusive Negotiating Agreement with the Oakland Economic Development Corporation (OEDC). BART, in collaboration with the city of Oakland and OEDC, will explore building approximately 100 workforce housing units on what is now a 1.3 acre parking lot at Snell Street and 71st Avenue.
"Oakland City Council President Larry Reid's leadership and vision have been critical to creating this agreement," BART Board President Bob Franklin said. "It's a true testament to his community commitment that President Reid has persevered despite the economic challenges."
The new apartments would border the award-winning Lions Creek Crossing affordable residential development.
OEDC is working with UrbanCore, a leading minority-owned real estate development company. UrbanCore is a Bay Area firm that has successfully completed, or has in progress, a total of 32 projects encompassing 3,000 housing units and 100,000 square feet of commercial retail.
"The Coliseum Transit Oriented Development Project has the potential to transform an entire community," Oakland City Council President Larry Reid said. "With the partnerships that we have formed with BART, the Oakland Economic Development Corporation, and now UrbanCore, a sustainable development community surrounding the Coliseum BART Station becomes the catalyst for creating a true transit village, increases the ridership for BART and paves the way for a tremendous amount of economic growth in East Oakland."
The next step in the process is to design a financially feasible project and to secure requisite financing and appropriate environmental clearances. Development of any final project would be several years.
"This is a modest step in what we hope will be transformation and revitalization of the neighborhood surrounding an important BART station," Director Robert Raburn said. "Making Coliseum BART into a vibrant neighborhood center that befits is regional importance is my priority."