The Agency, as exclusive advisor, is pleased to offer for sale 1951-1975 Shattuck Avenue, Berkeley, CA (the “Property”), and its associated development rights. This 17,463 square foot corner parcel is located in downtown Berkeley and has frontage along Shattuck Avenue and Berkeley Way.
Positioned just north of University Avenue at the gateway to Berkeley’s famed Gourmet Ghetto, 1951 Shattuck sits just one block from the West Gate of the UC Berkeley Campus, and three blocks from BART. Acheson Commons, a fully-entitled apartment
project, directly abuts 1951 Shattuck to the south, and Berkeley Way West, a $150 million UC Berkeley building, is under construction directly to the north. 1951 Shattuck represents the rare opportunity for institutional-scale luxury residential development at a premiere location within one of the most prestigious and constrained markets in the nation.
1951 Shattuck benefits from favorable zoning, and is specifically called-out as a development opportunity site in the downtown area plan. Its C-DMU (Commercial, Downtown Mixed Use) Outer Core designation expressly encourages dense, mixed-use development. The seller has undertaken an entitlement process for a tasteful, luxury 12-story residential mixed-use building of 92 units, retail and commercial space, subterranean parking, and a generous, landscaped public space along Shattuck Avenue. 1951 Shattuck is well into the design process, and has received and responded to comments from the Design Review Committee. Revision of the current design is also a possibility.