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Brooklyn Basin Finds Funding

This week, Governor Jerry Brown announced that a plan to develop 65 acres of waterfront in Oakland has found funding. The $1.5 billion Brooklyn Basin deal, in the works for over a decade, will create 3,100 housing units, 200,000 sq. ft. of commercial and retail space and 30 acres of parks and wetlands as well as create 10,000 short- and long-term jobs. The land is located adjacent to Jack London Square along the Oakland Estuary

The Governor announced the plan with Zarsion Holdings Group, a China-based investment firm, while on a trip to increase investment in California. Brown credited Mayor Jean Quan, of Oakland, as being a major player in the deal.

The project, originally called "Oak to Ninth", is described as shovel-ready with groundbreaking expected next year. The first phase of the 10-plus year project will focus on infrastructure with the first building expected to rise in 2015. -Michael Conrad

· Brown Unveils waterfront Deal [SFGate]
· Gov. Brown Announces $1.5 Billion Chinese Investment For Oakland's Waterfront [sfist]