Posted on 06/26/2006 8:19:42 AM PDT by SmithL
One of the cornerstones of Oakland Mayor-elect Ron Dellums' campaign was the need to take a closer look at planning in the booming downtown -- but from the looks of things, the market may have the biggest say in what happens next.
City records show no fewer than 165 major projects are under way or under review -- everything from a 63-story downtown condo complex to three 22-story residential towers to Forest City's 665-unit Uptown Oakland project off Telegraph Avenue.
At the same time, however, the once-hot residential market that drove outgoing Mayor Jerry Brown's boom is showing signs of cooling down.
"And it's happening all across the Bay Area, from high-end homes to single-family suburban houses,'' said Jim Chappell, president of the San Francisco Planning and Urban Research Association.
Granted, there is still a market for one-of-a-kind projects, like the 55- and 45-story towers going up on San Francisco's Rincon Hill at the foot of the Bay Bridge. But otherwise, "stuff just isn't selling that fast,'' Chappell said.
"The whole Jerry Brown phenomenon was based on the San Francisco market being so hot that people were willing to go over to Oakland,'' he said.
"Well, now the housing market is cooling down, and you know the old saying -- when San Francisco gets a cold, Oakland gets pneumonia."
Dellums spokesman Mike Healy, however, doesn't sound too worried.
(Excerpt) Read more at sfgate.com ...
Your question is without foundation.
Socialists do not give one the opportunity to choose to "invest", or not to "invest".
You live there, you "invest". And if the mobster politicians can, they will work a deal so that the entire state will "invest".
Those with the money to own the public ofals.
Red Dellums already having chilling effect on real estate in Oakland.
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