Mixed-Use Development Adds 173 Apartment Homes, Retail Space to Lake Merritt Neighborhood
OAKLAND, Calif., May 3, 2022 — Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., today announced that move-ins are underway at Modera Lake Merritt, a luxury mixed-use community in Oakland’s eclectic Uptown neighborhood.
The community, which sits one block west of Lake Merritt, features 173 apartment homes and 1,650 square feet of ground-floor retail space. Located in the Oakland Art District and within walking distance to both Uptown and Downtown Oakland, the site boasts a world-class Walk Score of 99 and puts residents within steps of the city’s most prominent retail, dining and entertainment options.
“Residents will have no difficulties striking an ideal life balance with the energy of the city to one side and the serenity of the lake and open space on the other,” said Mike Kim, senior managing director of development for Northern California for Mill Creek Residential. “We’re eager to welcome our first residents to Modera Lake Merritt, which is one of the most desirable locales in the city and will offer a boutique feel. Our property management team is excited to offer best-in-class living experience to match the stellar location.”
Situated at 1940 Webster Street, Modera Lake Merritt is positioned in an arts-centric district surrounded by culturally infused attractions such as art galleries, specialty shops and live music venues. The community is on the northwest side of Lake Merritt, a scenic lake and parkland. The lake has been recognized as one of the most captivating and amenitized urban lakes in the nation. Residents will have near-immediate access to 75 acres of open and programmed space and more than three miles of lakefront pathway.
The community is also positioned two blocks from a BART commuter train station and within blocks of the Lake Merritt Office District. The district includes 400,000 square feet of redeveloped office space and is anchored by Square, a financial tech services company. Other easily walkable prominent employers include Oracle, Pandora Media and Kaiser Permanente.
Modera Lake Merritt consists of six levels of residential homes above the ground-floor retail space and lobby. The community offers studio, one- and two-bedroom homes with an average square footage of 710. A rooftop deck with fire pits, barbecue grills and sweeping downtown views highlights the community amenities. Other common-area attractions include an outdoor rooftop kitchen and dining area, an expansive resident clubhouse and a club-quality fitness center with cardio stations, yoga studio and ballet barre. Residents will also have access to a digital package room, dedicated bike storage, Wi-Fi in common areas and controlled-access subterranean parking.
Apartment homes include two distinct color themes and floor-to-ceiling windows for ample natural light. In-home features include nine-foot ceilings, stainless-steel Energy Star appliances, wood plank-style flooring, quartz countertops, custom cabinetry with under-cabinet lighting, gas ranges, tile backsplashes, in-home washers and dryers and soaking tubs with tile surrounds. Select homes will have breakfast bars in the kitchens, oversized closets and floor-to-ceiling tile shower surrounds.
About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of both multifamily and build-to-rent single-family communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation’s most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of December 31, 2021, the company’s portfolio is comprised of 119 communities representing over 32,500 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.
SOURCE Mill Creek Residential