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Article: Oakland developers bet on city's future

Article from:
Oakland Tribune
Article date:
September 23, 2009
Author:
Copyright

Two developers have plunked down separate bets worth a collective $10 million that downtown Oakland can enjoy a bright future despite a gloomy recession.

This month's purchase of the half-finished City Walk residential and retail project, coupled with the late-August deal involving a former auto dealership site several blocks away, suggest that some investors have plenty of confidence in the area.

The deals would bring more residents downtown:

-- Wood Partners, through an affiliate called Alta City Walk LLC, bought the City Walk complex on Sept. 10 from its original developer, Olson Co. Wood Partners paid $5 million for the property located at 14th and Jefferson streets.

-- Signature ...

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