Carmel Partners Recognized for Oakland Development, ‘Atlas’

Posted On Thursday, 06 January 2022 21:06

Leading multifamily developer nationwide, Carmel Partners, builds a reputation for impressive, competitive investments that continue to garner attention. Among these investments is ‘Atlas,’ a new Oakland premium high-rise project recently recognized as a Real Estate Deal of the Year from the San Francisco Business Times, winning the J Turner 1% Service Award and gaining recognition from the American Society of Civil Engineers. These awards, paired with glowing reviews from past and present residents, point to the property’s continuous prominence within the Bay Area.

With an existing presence in Northern California, Carmel Partners took notice of Oakland’s quickly growing population, unmatched by other markets in the Bay Area. Attracting a diverse collection of individuals and businesses, Oakland is becoming a social, cultural and professional hotspot, well-known for its welcoming and energetic atmosphere. Within a vibrant downtown, modern high-rise buildings mingle with historic landmarks reminiscent of the art deco era. Inspired by the dynamic relationship between the past and present, art galleries, bars and restaurants attract locals and visitors from day to night. 

Building upon Oakland’s architectural scene, the area also houses several top employers including Kaiser Permanente, Pandora, The Clorox Company and Square–not to mention the numerous other companies located across the bay in San Francisco. Bridging the gap between the two employment centers, the Bay Area Rapid Transit (BART) Station offers a convenient commute, just one block from Atlas’ front steps. Taking notice of Oakland’s growing appeal, from its role as an entertainment to employment destination, Carmel Partners identified the area as an opportune market with demand for high-end development.

In developing the 40-story high-rise, the tallest residential building downtown, Carmel Partners’ construction team partnered with SKB Architects for design expertise, and Wells Fargo, Otera and HSBC for project financing. After demolishing a previously existing parking structure, Carmel Construction occupied an entire city block, building upward to construct the luxury apartments. Understanding the necessary components for value creation, Carmel Partners identified the building’s wide-spanning site as an opportunity for a cleaner and more appealing property that would outcompete other luxury apartments in the nearby area. 

Throughout Atlas’ 17,800-square-feet of common interior spaces, Carmel Partners incorporated timeless materials and art deco-inspired details for a refined and edgy atmosphere, starting in the grand-entry lobby. Above the lobby, residents enjoy a 4,000-square-foot fitness center, indoor to outdoor lounge, coworking space, terrace with pool and daybeds and a scenic rooftop deck. To enhance the resident experience, Carmel Partners also offers complimentary services, from curated resident events to a package management system, as well as services available for a fee. Recognized in particular by the J Turner 1% Service Award, Atlas’ curated amenities and services create a premium resident experience unmatched by nearby multifamily complexes.

Uniquely defining each of Atlas’ 633 apartment units, Carmel Partners implemented distinctive collections, ranging in finish, color palette and price, and including a diverse range of residences from studios to two-bedrooms to penthouse suites. Many units fall into the ‘gallery’ and ‘elevation’ collections, comprising the first 29 floors, with the ‘collection’ and ‘penthouse’ units towering above with stunning views of the East Bay. Consistent throughout all units are floor-to-ceiling windows, stainless steel appliances, in-unit washers and dryers and nest thermostats, meeting a standard of excellence set by Carmel Partners in past properties, such as ‘Linea’ in Los Angeles. With the vast majority of units including expansive windows, balconies and designer kitchens, the property establishes a presence of luxury, extending from the first floor to 18 penthouse units on the top floor. In a similar fashion as Atlas, Linea finds a balance between indulgence and comfort. 

Brought to life by over 3,000 workers logging 1.6 million hours, Atlas is a property redefining luxury living in the Bay Area. The award-winning apartments reveal Carmel Partners’ skilled investment and development approach, producing a property also known for outstanding service within the flourishing city of Oakland. 

About Carmel Partners

Carmel Partners is one of the leading specialists in real estate investment management with a focus on U.S. multifamily acquisition and renovation, and development and construction. The company also specializes in debt and lending opportunities. Carmel Partners, LLC was founded in 1996 and has offices across the country, including San Francisco, Los Angeles, Irvine, New York City, Seattle, Washington D.C., and Denver. For more information, please visit www.carmelpartners.com.

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