Wesley Foundation – 2009

Quick Look

Wesley Foundation – 2009

Status: 2008 (entitlements completed), 2009 (start of construction), 2010 (construction completion projected)
Project value: 9,000,000
Total Bedrooms : 40
Non-profit (gross) : 2,400 square feet
Project gross : 168,811 s.f.
Spaces/unit res. : 1/unit

2398 Bancroft Way
Berkeley, CA 94704

 Project details   |   Project specs

Challenges

Urgent request for Citycentric to come in very late in non-profit project’s entitlement process to help finalize complicated zoning issues and provide bridge financing between entitlements and construction loan, very high early capital expenditures on project that City could not approve, complicated and comprehensive entitlement process, area with many historically significant structures, financing during economic crisis, complex negotiation, using sustainable policies before their zoning adoption, finding significant cost reductions to balance reduced construction loan scenario due to economic crisis (loans not available or very high interest rates).

Vision

Student oriented, forty bedroom, green housing across from U.C. Berkeley. Citycentric provided consulting services for entitlements, construction documents and construction financing; project broke ground July, 2009.

Result

Extremely positive neighborhood reaction and support, solid core of neighborhood support, strong historically appropriate design, oak tree preservation.

Project Details

Product: Mixed-use infill development project with 90 beds in eight suite units, @2,400 square feet of non-profit office space.
Approvals: City of Berkeley Use Permit and Design Review, Landmarks Commission review, State Density Bonus, Mitigated Negative Declaration
Status: 2008 (entitlements completed), 2009 (start of construction), 2010 (construction completion projected)
Value: 9,000,000
Partners:
Wesley Foundation
Lenders:
Bank of Alameda and Citi
Contractor:
Reeve Knight Construction
Sustainability:
GreenPoint Rated
Carbon Savings
Green House Gas savings: 57,600lbs CO2/year; Vehicle Miles Traveled savings: 160,000miles/year; Gas savings: 6,400gal/year; Oil savings: 116 barrels/year

Project specs

Number of units
5 bedroom 8
Total Bedrooms 40
Beds 88
Area
Non-profit (gross) 2,400 square feet
Density ratios
Project gross 168,811 s.f.
Site 7,500 s.f.
Acres .17
Occupants/acre 511
Bedrooms/acre 232
Units/acre 46 d.u./acre
Parking
Spaces/unit res. 1/unit
Total 0 spaces (car free policy, across the street from UC Berkeley)