Is West Oakland gentrifying? (San Francisco, Berkeley: crime, house, luxury)

[DocGoldstein]

They had to drop the unit prices by nearly $100,000 in price to get them "almost" sold out in 4 years? That doesn't exactly give a good picture of high demand, especially for such a small development of 160 units.

Brand new town homes in desirable Bay Area neighborhoods go for almost TRIPLE that price.

Also $200,000 townhomes and lofts don't say "high income" to me, especially in the Bay Area.

[bmw335xi]

I was looking into buying a loft in PCL, but when I went to visit in person the area still has many many years to come still and with the real estate market, I bet it will take even longer, maybe 10 years or more.

[jade408]

Originally Posted by DocGoldstein

They had to drop the unit prices by nearly $100,000 in price to get them "almost" sold out in 4 years? That doesn't exactly give a good picture of high demand, especially for such a small development of 160 units.

Brand new town homes in desirable Bay Area neighborhoods go for almost TRIPLE that price.

Also $200,000 townhomes and lofts don't say "high income" to me, especially in the Bay Area.

Actually, they dropped the price after they were 80 or 85% sold. In fact I was surprised to see that lower price. I was on the mailing list, and the last email i saw had the price at $250k or similar, and that was in the spring. They seem to be having a bit of trouble with the last 10 or 20 units, but it has been pretty sold for a while. I took a look about 18 months ago, and it was 70% sold, with the prices in the high $200s.

Some acquaintances live there: accountants and lawyers. The other people I met were in similar professional service jobs, they wanted to be closer to SF. Software developers, IT consultants etc. Not exactly "low income residents." They didn't want to spend half of their income on a mortgage and thought it was a good value.

Keep in mind, these are probably the worst newer condos in Oakland. Frankly, no one should buy them. The particular area they are in overlooks the freeway, is far from everything and surrounded by blight. You need to be committed to the 15 year plan to even thinking about living there. I was shocked to see it doing so well at any price. There are tons of better places with more amenities, better layouts and better locations at that price point.

[ssmaster]

while sf rents are skyrocketing and west oakland is signifigantly cheaper it also in competition with other areas of oakland
like rockridge,uptown, temescal,old oakland and lakeside district all of which have BART access and
1)more ammenities (supermarkets, and/or restaurants etc)
2) fewer issues (blight, industrial pollution,housing projects,gangs)

in my opinion there are a lot better areas to consider

[bigdumbgod]

Originally Posted by ssmaster

in my opinion there are a lot better areas to consider

Which are more expensive. West Oakland, should one get a good deal on a place, would be a somewhat hopeful investment right now. Might pay off down the line, but the wait could be long.

[ssmaster]

Originally Posted by bigdumbgod

Which are more expensive. West Oakland, should one get a good deal on a place, would be a somewhat hopeful investment right now. Might pay off down the line, but the wait could be long.

it sounds like we agree on the OP's question was " Is West Oakland gentrifying? "

not there yet or soon.

[DocGoldstein]

Yup. It's not, and won't be for a long time.

[ashlandbus]

As North Oakland continues to be hot and Uptown/Old Oakland and even areas of Pill Hill keep getting better/more interesting, it will keep spilling over to West Oakland. When you see hipsters in the numbers you do in West Oakland, I would say that gentrification, while perhaps not there like it is in Temescal or other areas of North Oakland, is close by. If you are interested in buying a home, there are some pretty good deals, if you are comfortable hearing the occasional gunshot or dealing with a broken window now and then. I have found living in a neighborhood such as this makes you rely on your neighbors a lot, but in the process, really get to know them.

[ssmaster]

Originally Posted by ashlandbus

As North Oakland continues to be hot and Uptown/Old Oakland and even areas of Pill Hill keep getting better/more interesting, it will keep spilling over to West Oakland. When you see hipsters in the numbers you do in West Oakland, I would say that gentrification, while perhaps not there like it is in Temescal or other areas of North Oakland, is close by. If you are interested in buying a home, there are some pretty good deals, if you are comfortable hearing the occasional gunshot or dealing with a broken window now and then. I have found living in a neighborhood such as this makes you rely on your neighbors a lot, but in the process, really get to know them.

i think we are not all agreeing on what gentrifying means.
is gentrifying a)when artists ,musicians hipsters (generally considered a cash poor population) start to move into an area?

or

b) when this area develops the cafes,restaurants, markets,boutiques and the like that make it more attractive to your more traditional renter ?

maybe a is present in west oakland but not b.

[ashlandbus]

Originally Posted by ssmaster

i think we are not all agreeing on what gentrifying means.
is gentrifying a)when artists ,musicians hipsters (generally considered a cash poor population) start to move into an area?

or

b) when this area develops the cafes,restaurants, markets,boutiques and the like that make it more attractive to your more traditional renter ?

maybe a is present in west oakland but not b.

Option B is an established area. For instance, I would say Rockridge is beyond gentrified. Temescal is already past gentrification... just barely. Uptown may be in the gentrification phase. West Oakland isn't there yet, but in time, it will be.

For instance, where I lived in Denver prior to moving to Oakland was starting to gentrify as I moved in. It is still gentrifying, but now moreso that restauratns and shops are starting to appear. I would say your point A leads to gentrification, and point B follows. In which case, West Oakland is on the up and up.