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June 07, 2017

Retailer turned hotelier West Elm plans Oakland hotel with Signature Development Group

Signature Development Group plans to bring a hotel to Oakland’s thriving Uptown neighborhood. The developer teamed up with West Elm, a home goods retailer that has branched into operating hotels, and Jordan Real Estate Investments to open a 160-room hotel in a new $90 million development. The site, at 2401 Broadway, will also include 70 apartments and 15,000 square feet of retail.

The project, which could start construction next year, represents another effort to transform a swath of Broadway along the former Auto Row into a mixed-use retail and residential district.

“The hotel is going to bring in a lot of people coming and going that will further activate the area,” Mike Ghielmetti, head of Signature Development, told the Business Times.

Despite Uptown’s remarkable turn around with dozens of new restaurants, bars, shops, concerts and monthly art walk, the neighborhood does not have any hotels. A hotel hasn’t been built in downtown Oakland since the Courtyard by Marriott opened in 2002.

The new hotel project is still winding through the approval process with the goal of starting construction early next year and opening in early 2020.

Read the full article on San Francisco Business Times