OAKLAND, CA—The proposed $2-billion Coliseum City project details were recently outlined in an environmental impact document giving the estimates of what the 800-acre project would include in terms of planned sports and entertainment district, residential neighborhood, retail, hotels, and office space between the Downtown and airport area.
According to JLL, which looked at, and analyzed the document, Coliseum City would create a new submarket in the Oakland metro market due to the proposed size of the office, commercial, and industrial space. In turn, the firm says, it could have a long-term effect on an increase in rental rates as well as lower vacancy in the overall Oakland market “if tenants are attracted to being close to the sports arenas as well as vast amenities it proposes to offer.”
The Coliseum City project will transform an entire area of Oakland, creating thousands of new jobs and a regional destination, Mayor Jean Quan has been quoted as saying in numerous reports. "It stands to be one of the largest transit-oriented development projects in California and among the most exciting development sites in the nation."
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