Signature Development Group said Tuesday that Caspian, launched as one of seven for-lease multifamily buildings completed thus far at the Brooklyn Basin redevelopment in Oakland, is pivoting into for-sale condominiums. This marks the first opportunity for homeownership at Brooklyn Basin. Led by Polaris Pacific, sales are now underway.
“Caspian being available for homeownership represents a defining milestone for Brooklyn Basin,” said Michael Ghielmetti, president, Signature Development Group. “Our vision for the neighborhood has always been to reflect the vibrancy and spirit of Oakland, and with Caspian, we are proud to give residents the chance to plant roots on the waterfront in one of the Bay Area’s premier condominium lifestyle buildings.”
A redevelopment of the Oakland Estuary, the $2-billion Brooklyn Basin project will ultimately total 3,700 residential units, 200,000 square feet of office and retail space and 30 acres of open space. The San Francisco Business Times reported that condo conversion at Caspian will take a couple of years to complete.
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