Revitalizing Jack London Square: The Transformation of 233 Broadway

April 26th, 2024 Nicolas Morales

Behring is pleased to announce the delivery of 233 Broadway, the second of fourteen assets to be completed as part of the RISE Fund, our latest EB-5 project, which is uniquely positioned to deliver optimized, stable income-producing assets with expedited performance. The redevelopment of this property adds 102 jobs for EB-5 investors in RISE and continues to provide proof of concept for Behring and its diversified EB-5 Funds strategy.

RISE EB-5 Tour Series | Artthause Jack London at 233 Broadway Oakland, CA

Formerly known as the Z-Hotel, this property has undergone a remarkable transformation. From a vacant establishment, it has been revitalized to address the community’s housing needs, thus bolstering local growth and adding fresh inventory to accommodate essential members of our society, including first responders such as nurses, EMTs, and policemen. The acquisition of the Z-Hotel presented a unique opportunity for Riaz Capital, particularly amidst the challenges of the Covid-19 pandemic. Recognizing the potential of the property at a favorable cost basis, which is in an excellent location, surrounded by a plethora of restaurants, breweries, and bars, Riaz seized the moment to revitalize it.

233 Broadway Exterior

One of the key strengths of 233 Broadway lies in its strategic location in Oakland’s Jack London Square. Conveniently close to BART and the Ferry, residents enjoy seamless connectivity to neighboring areas. This accessibility not only enhances the quality of life for inhabitants but also adds value to the property, making it an attractive prospect for prospective tenants.

At the heart of 233 Broadway’s appeal are a refreshing pool and a fully equipped gym, residents are treated to a lifestyle of comfort and convenience. The inclusion of these amenities within the reconverted space represents a cost-effective solution compared to the expenses associated with ground-up developments. Moreover, a common area courtyard provides a tranquil retreat where residents can unwind and socialize, fostering a sense of community within the complex.

233 Broadway Pool

The transformation of 233 Broadway from a dormant hotel into a thriving community hub epitomizes innovation and adaptive reuse. Through strategic vision and meticulous planning, Riaz Capital has redefined the possibilities for urban revitalization, creating a space that not only meets the needs of its residents but also enriches the fabric of Jack London Square.

Visit the Artthaus website and see 233 Broadway for yourself

To learn more about our current offering, the RISE Fund, schedule a call with our team or sign up for a site visit where you’ll see completed projects and upcoming construction of student housing apartments near the campus of the University of California at Berkely. By delivering a diversified placement to the community, supported by a loan which is already cash-flowing, we’re confident that our RISE investors will meet the job creation requirements and as more RISE properties  follow the same path as our 233 Broadway toward completion and lease-up.

Download the RISE Fund Investor Presentation

RISE Deck Cover - 14 Assets
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