De Ja Vu All Over Again

Fifteen years ago the Bay Area housing market was mired in a serious funk after 8 record setting years of rising prices in the late 80's....sound familiar?

In the midst of all the negative headlines and bargain hunters, however, there was one neighborhood (San Francisco’s South of Market) and one building (The Clocktower) that completely bucked this negative trend. In fact in 1992/3, the Clocktower's 128 units accounted for 50% of ALL of the condominium sales in SF! (See Channel 2 news story 9/17/93).



The building's success was a by-product of it's unique live/work format...it attracted people with an entrepreneurial spirit....people that enjoyed being around other creative and interesting folks...people that weren't willing to wait for the "downturn" to be over... people who wanted to get on with their plans and invest in something exciting and rewarding….their selves, their future, & their businesses.

And the result for those people? Not only did they become a part of an exciting community, but the lofts that they bought then for $265,000 now sell for around $1 million. One original buyer recently blogged on another site: “I lived in the Clocktower from 1993 until 1996 in one of the lofts in the actual Clocktower building and I wish that I had never left….It was a great place to live, and there was a real feeling of community. I was very happy there.”

Every major change in the economy opens the door to new ideas and new thinking. I think we are again at the crossroads of a new economy in the Bay Area....it is time for a new dynamic live/work building. I hope you continue to watch our progress at Pacific Cannery Lofts as the next such community begins to take shape.

It's Oakland's Turn...Jerry Brown wasn't crazy.

San Francisco magazine has made these assertions in their current issue regarding development in and around downtown Oakland. I couldn't agree more with SF magazine's assessment. Seven years ago I bought the main Oakland Train Station and 25 acres of vacant land that surrounded it. When I bought the site I decided to delve directly into the neighborhood and learn more about the hopes and aspirations of the residents. I spent time in the local barbershop where I heard many stories of the rich history of the area. I also became aware of a very deep frustration with the lack of progress in getting new buildings and new residents to the area....the neighbors were saying that "It's Oakland's Turn"....isn't it??

One of the most interesting people I met in the early days is my counterpart in the photo above. his name is Marcel Diallo and he shared his vision for bringing back the neighborhood by organizing creative young folks like himself....he's was in his middle 20's at the time......and getting them to focus on a few blocks in West Oakland known to locals as the "Lower Bottom". His vision is to create an opportunity for entrepreneur's like himself to re-create the lost culture of the Black community.

As a 54 year old "white guy" I was intrigued at how we might work together to start the process of re-building this amazing neighborhood. This blog is designed to tell our story in real time as the buildings come to life. Our first building ...the Pacific Coast Cannery is scheduled for completion this spring 2008. I hope you find this story interesting and compelling and that you participate in Marcel's and my effort to redevelop this special neighborhood the right way....by reaching out and including ALL interested parties and blending ALL of their hopes and aspirations. This is the Bay Area's oldest neighborhood...the Station was the end of the trans-continental railroad in 1870...it has been called "Ellis Island West" by local historians as it was the landing point for all new residents to Northern California. I will post at least once a week to update you on our progress.