Jack London Square Offers Lofty Living
But the primary question may be, “Why leave?” Within a short walking distance are nightclubs and restaurants, the vibrant Chinatown neighborhood, and downtown Oakland. And of course, no description would be complete without mentioning the water: The neighborhood sits on San Francisco Bay, with sweeping views of San Francisco, the Bay Bridge, the Port of Oakland, and Alameda.
Realtor Sara Garabedian cautions that the lifestyle isn’t for everyone: “It’s great for professional singles and couples, people who want a little more sophisticated environment, as opposed to someone who wants to maintain a residence in a sleepy suburban neighborhood,” she says.
Housing at Jack London Square consists primarily of lofts, apartment-like units converted from warehouses that were built in the area’s industrial heyday during the early 20th century. “They often have a very glamorous, raw look about them,” Garabedian notes.
Mixed in with the warehouse conversions are a number of newer buildings, usually no more than four or five years old. “The newer buildings tend to be smaller, with sort of a ‘techie’ spin on the architecture,” Garabedian notes. While newer construction tends to fall in the 10-20 unit category, older warehouse conversions generally have 40-75 units.
The earliest conversions in the neighborhood occurred about 10-15 years ago, as Oakland saw the loft idea come to reality in San Francisco, and realized it was a way to revitalize this waterfront area. “San Francisco started converting and building lofts, and the East Bay just sort of followed suit,” notes Garabedian. “Units have consistently come online ever since.”
Most lofts fall in the $475,000 to $700,000 range. While prices seem anything but modest, there is what Garabedian refers to as a “correction” in the market. “A year ago, there would be multiple offers. Now, there aren’t, and the seller doesn’t always get the asking price. That might be an economic trend, but it might not. . . Lofts target a much smaller section of the market,” she notes.
Does that make lofts a more affordable option than homes? Perhaps, says Garabedian, but there are factors to consider: “Loft pricing can be more affordable, but you have to remember that there is usually no yard, and there are other limitations, too, because of the space.” There is usually an upside to it, too. “Most lofts are geared towards a live-work situation, so it is much easier to run a business out of your home if you live in a loft.”
Kathleen Lemon agrees. As a writer and resident of Jack London Square, she describes the area as “New York lite. It’s urban, but it’s easy to deal with, easy to get around. Most days, I don’t drive my car.”
An East Bay resident for 11 years and Jack London Square dweller for five, Lemon says she knows her neighbors very well — perhaps for the first time. “I know my neighbors here better than when I lived in the Oakland hills,” she explains. “I think because you don’t have driveways, yards, and fences separating you.”
Patti Beadles, a professional poker player, also enjoys living in the area. “I liked it more than I thought I would,” she explains. “I like that it’s not just little rows of houses. And I like my neighbors. You meet all sorts of people — business people, musicians, artists.”
While most people think of the area as not being attractive to families, Laurie Miskuski is very happy to live in the area with her two-year-old daughter. A Chicago transplant, Miskuski says, “I take my daughter for walks almost every night. We walk to Lake Merritt, to Fairyland. This is one of the reasons I moved out here. I considered San Francisco, but I really love the openness’ of Jack London Square much more.”
Perhaps one of the best aspects for Miskuski is her short commute to work. She is Marketing Manager for The Sierra at Jack London Square. The project, which will be at 311 Oak Street, is slated to be completed by late April, 2003. With the average unit selling for between $400,000 and $450,000, Miskuski says, “We’re about 30 per cent full already. We’re seeing a strong market, and a very, very positive response.”
One possible reason for the strong response is that, unlike many buildings surrounding it, The Sierra will offer a number of amenities, including 24-hour concierge, lap pool, fitness center, business center, conference room, and screening room. “It’s a full-amenity building, which is not typical in the area,” she notes.
