Shortly after a joint venture of Hollywood's Wayans brothers and Los Angeles-based Pacifica Capital Group signed an Exclusive Negotiating Agreement with the city for the acquisition and development of the site, the Port of Oakland, its next door neighbor, revealed plans to fill 42 acres of the Bay and erect a container wall that would block dramatic views of the Bay, the Bay Bridge and Downtown San Francisco from a significant portion of the site.
The JV's ENA does not allow for such changes to the development program or plan, however, so the ENA is no longer in effect, Britten Shuford of Pacifica tells GlobeSt.com. The JV is nonetheless moving ahead with a modification of its plans with hope the city is still on board.
"Even without the ENA, we think there is a spirit of understanding," says Shuford, one of the partnership's two managing partners, the other being actor-director Keenen Ivory Wayans. "We are confident that this will come together."
Although Shuford declined to speak directly to it, local industry sources tell GlobeSt.com that the Port has coveted the former army base and, if it can't have it, does not want anything like what the JV has in mind on the site because it does not want complaints about noise, traffic and pollution. The Port did not respond to a request for comment.
The Port's planned expansion would block views from the site's westernmost 50 acres, which was slated for the first phase of development. Plans called for Wayans Brothers' Destination Oakland, a 917,000-sf mixed-use project that includes a 435,000-sf film production studio and creative office center, as well as 480,000 sf of retail, entertainment and educational offerings.
"We go from having amazing views to having a wall of containers to look at; any suggestion that we don't need to modify our development plans would be outrageous," Shuford says. "With containers on two sides, there would be no compelling reason why a creative company would want to come here from Emeryville, San Francisco, L.A. or anywhere else."
Shuford says all the uses can still be fit onto the site but must be rearranged if the city is not successful in working out a compromise with the Port, which local sources say doesn't appear likely. There is no quick fix, however, because the easternmost 17 acres of the site is leased through 2013 to the California Department of Transportation for use as staging for bridge repairs.
Keenon Ivory Wayans, who came to light when he produced the television comedy variety show "In Living Color" in the 1990s, has produced and starred in several well-known movies with his three brothers (Shawn, Marlon and Damon), including "White Chicks," "Little Man," "I'm Gonna Get You, Sucka," and "Scary Movie," the most financially successful feature ever directed by an African American.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.