Current thoughts on certain section of Emeryville (San Francisco, Oakland: lofts, condos)

[Jolly BG]

Well, I may or may have not found a place to live. The development is called Vue 46 in Emeryville. It's located between San Pablo and Market using 45th street. What are your opinions on this neighborhood? The actual development itself is really, really nice. Some retirees have already moved in some of the townhouses. I don't have a family, so no need to worry about that. I will be traveling in and out of San Francisco, being gone for weeks a time, but not too frequent. I will not be working yet, but would like to go back to school in the near future, hopefully at UCB. Thoughts?

[sonarrat]

It's right on the Oakland border, Adeline Street.. disturbingly regular burglary activity in the area. I would be nervous if you're going to be leaving your stuff alone for extended periods of time.

[Chicagoaklandish]

The development itself is really really nice. It is, however, in "the hood." Not really that much violent crime but a lot of burglary and dope dealing. If you've lived in an inner city area before and didn't mind it, you'll probably be fine. I wouldn't walk too far south down Market, though, particularly at night.

[gatorman]

Vue 46 is really amazing, I've seen the place and it's a very high quality build.

Neighborhood is not great, as already stated. it's out on the fringe of Emeryville and doesn't look as safe as other Emeryville loft/condo areas west of san pablo near hollis, or west of the train tracks (Christie, shellmound ave, etc).

But that's gotta be one of the best properties within Emeryville borders.

Driving in and out of the secured parking area would be no prob but you have to think about if you'd want to walk around that area at night or leave your place for long periods of time while out of town. but it's do-able if you're an observant city person. area is nowhere near as bad as worst parts of Oakland.

[18Montclair]

like the project, not so hot on the immediate surroundings. Definitely for someone who looks at all things Oakland with rose-colored glasses(such as myself-LOL).

[Jolly BG]

Thanks everyone. The development is soooooo nice! THe views from the third story up are amazing! Especially, the views from the loft balconies which are west facing towards San Francisco! Are there any comparable developments? I mean it is gated and you need a key to get in everywhere. Gentrification in progress or almost completed? Or is it just a bad spot to be regardless?

[gatorman]

another nice building in Emeryville is park avenue lofts (may have penthouse/rooftop views, not sure).

jack london square district has some very cool buildings such as the sierra, new market lofts, and the david baker designed building (don't know the name, i think it's on second ave). there's also the almost completed ellington, which has sf views.

wouldn't count on gentrification continuing anywhere for some time in this broken economy.

in better times even, i don't think the area immediate to the vue46 would have much of a shot of improving. look around over there, doesn't seem like there's anywhere else to build.

[gatorman]

oh, I mean 1500 park avenue in Emeryville, not park ave lofts.

[artemis78]

Agreed on 1500. Here's the deal with Vue 46: first, it's in Oakland. Yes, it has an Emeryville address, but that's developer back-room dealing. The plus is that you get Emeryville services. The minus is that while that edge of Emeryville is rapidly developing (40th and San Pablo, etc.) the area on the Oakland side continues to struggle. Market Street is pretty rough. That said, Emeryville's Triangle neighborhood is very close too, and is an active, established residential neighborhood that looks out for neighbors.

Also, Emeryville is awash in condos, so take that into consideration if you're buying (as I'm guessing you are?) In the short term, that market is likely to get softer, so you may want to think about waiting it out. If it were me, I'd go for the other side of San Pablo right now---you're right that the east side is changing; it's just that a long recession could stall things.

Basically, if you're okay with a neighborhood that's a little rough around the edges and the place is cheap, it could be worth it. You have access to excellent transit options, which is nice. Emeryville services are worlds up above Oakland, for the most part. But there are definitely tradeoffs; make sure you're really okay with them.

[Jolly BG]

When I visited there in November, they said that they were building some condos across the street on the 45th st. side. As long as there's minimal violent crimes, I wouldn't mind the burglary tradeoff. I felt safe within the confines of the development itself. Supposedly the building will go through another appraisal this month. I will revisit sometime in January. Last quoted prices were 15% less the original asking. I am willing to wait, I too don't think the market will see the bottom until the end of 2009. But if income-abled people are buying property that can possibly be undervalued below market, even in this market, then I would also join and buy. I've seen pics of 1500 and I thought it was okay compared to VUE 46. What about other better areas? By the way, I was staying in Richmond when I was there and frequented the El Cerrito plaza where the trader joe is. I thought that was a nice area. I just want a development as nice as VUE or really close. I do feel since we are in this slumping economy and the area is partly developed near Vue 46, it would be a good investment if the price is right.