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RBL Prepares for Residential-Over-Retail Project

SAN FRANCISCO-The locally based commercial real estate firm acquires a vacant parcel in Berkeley with plans for a four-story building with 100 housing units and 12,000 sf of retail.

By Brian K. Miller | Updated on March 13, 2007

(To read more on the multifamily market, click here.)

SAN FRANCISCO-A Bay Area joint venture has acquired a vacant corner lot in Berkeley with visions of a $40-million residential-over-retail development. The .75-acre parcel at 1200 Ashby Ave. is slated for a four-story building containing 100 units of housing (20% affordable) atop 12,000 sf of street-level retail, and an above-ground parking structure.

The developer is a joint venture of San Francisco-based Rawson, Blum & Leon and Memar Properties Inc. of Oakland, CA, led by Ali Kashani, the founder and former executive director of Affordable Housing Assoc. Kava Massih Architects of Berkeley is the project designer. No contractor has been named.

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