Brooklyn Basin of Oakland Phase 2
TEA EB-5 Project approved by USCIS
Only 15 minutes from downtown San Francisco, Brooklyn Basin is a new waterfront neighborhood in Oakland, CA surrounded by open space and stunning views of San Francisco Bay and the East Bay hills. In addition to a vast network of parks, an inspired blend of cultural, commercial, and recreational activities enhance Brooklyn Basin’s appeal as a Bay Area destination. Brooklyn Basin is a phased, master-planned development comprised of 12 development parcels and additional right-of-way and open space parcels totaling approximately 64 acres of waterfront property bounded by Embarcadero Road and the Oakland Estuary. Upon completion, Brooklyn Basin will encompass 3,100 residential units, 200,000 square feet of ground floor retail and commercial space, 32 acres of waterfront parks, 1.4 miles of trail, and a new marina.
The EB-5 Project consists of multifamily developments on parcel G (“Project G”) and parcel H (“Project H”) within the Brooklyn Basin community. The Project represents Signature Development Group’s second and third multifamily developments in Brooklyn Basin following the Orion which included 241 apartment units and was completed in August 2019.
Project G
- Vertical construction of a 7-story multifamily development on parcel G in the Brooklyn Basin Master Planned Community.
- +/- 2.67-acre parcel
- Groundbreaking in Q1 2021
- 371 fully approved multifamily rental units
- Approximately 31,500 square feet of retail
- Approximately 11,000 square feet of amenities
- 411 parking stalls
- Construction period from Q1 2021 to Q3 2023 (30+ Months)
Project H
- Vertical construction of a multifamily development on parcel H in the Brooklyn Basin Master Planned Community.
- +/- 2.14-acre parcel
- 234 multifamily units
- Approximately 16,500 square feet of retail
- Approximately 14,000 square feet of amenities
- 335 surface parking spaces
- Construction period from Q4 2024 to Q1 2027 (28+ Months)
The EB-5 Program Highlights
- Minimum Investment Amount: $800,000
- EB-5 Investment Amount: $120.8M (151 investors)
- Total Investment Amount: $494M
- Projected Total Job Creation: 4,138 (Required: 1,510 / 270%+ cushion)
- Mezzanine Debt Term – Project H:
Currently 3-Year Loan Term with Two 1-Year Extensions (3+1+1) - Project H Project Status:
Under construction
Disclaimer
The information provided in these materials for Golden Gate Global (“GGG”) or in any communication or other materials containing a website link to www.3gfund.com is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation. Neither the information nor any opinions or views expressed herein constitutes an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any offer or sale of securities in any jurisdiction where such offer, solicitation or sale is not permitted. Any offer of securities in any project may only be made pursuant to a written private placement memorandum and other documents, as evidenced by a properly executed subscription agreement, and only then as permitted by applicable securities laws.
*Investment amount may change based on USCIS guidelines or the passage of an EB-5 Bill in Congress.
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