Massive Shorenstein Office Building Stalled

Citing the ruined economy, Shorenstein Properties has indefinitely halted construction of its 23-story office building in downtown Oakland. According to the San Francisco Business Times, Shorenstein executives claimed that construction of the complex at 601 City Center wouldn’t resume until the economy picks up, and God only knows when that will happen. This is latest blow to the downtown Oakland real estate market, where the financial crisis has forced three condo projects into default, and rioters looted and set fires in the streets after the recent BART cop shooting.

Support the East Bay Express, local news, donate
18,654FansLike
0FollowersFollow
67,429FollowersFollow

Newsletter sign-up

eLert sign-up

Oakland
broken clouds
52.7 ° F
56 °
48 °
76 %
1mph
75 %
Mon
68 °
Tue
61 °
Wed
65 °
Thu
64 °
Fri
66 °