Developers Gamble on San Pablo Avenue

EMERYVILLE, CA-Emeryville’s San Pablo Avenue has lured two regional developers to begin building the largest of six approved projects here along San Pablo Avenue, the main corridor leading to the City of Oakland. Castle Group and San Francisco-based SNK Development Inc. will add more than 100,000-sf of new office space, approximately 300 new homes and 50,000-sf of retail to the already bustling office and residential corridor.

Long’s Drugs will anchor The Promenade, a $35 million mixed-use project headed by the Castle Group, a Palo Alto, CA-based company. The company also is building 102 town homes and 32,000-sf of retail on the property, as well as a 350-home subdivision less than a mile away, according to Chris Kober, president of Castle Group. The total investment is about $125 million, says Kober.