(AP) Oakland plans to add more than 1,000 new apartments, stores and office space downtown and a park on a new waterfront park, as part of a larger redevelopment project for the city’s waterfront, according to city officials.
The project, called “The Alameda, Alameda: Downtown,” was announced in a letter Friday from Oakland Mayor Libby Schaaf.
Schaaf says the project will create more than 7,000 jobs and $500 million in new economic activity.
The plan includes the creation of six new residential units in the city, as well as about 4,000 residential and office spaces and more than 400 new retail stores.
The new development will be located on the city-owned Alameda River and on the former site of the former Alameda Municipal Building.
The Alameda is Oakland’s largest urban riverfront park, and the city is now building a new $1.8 billion park and waterfront complex on the river.
Oakland plans an annual tourism tax, similar to those in San Francisco, to support the development of the waterfront park and the park.
Schaak said in a statement that the project’s goal is to create more affordable housing and provide new opportunities for families to live and work in the downtown area.
“We are creating a more vibrant and vibrant Alameda by creating more retail and more residential opportunities for Alameda residents,” Schaaf said.
Oakland Mayor Jean Quan has said she supports the project, but it remains unclear how much support the city will receive from the city council.
“This is a bold and exciting announcement, and I look forward to the process of community engagement and a discussion on how this could happen,” Quan said.