A New $40,000,000 in-fill project in Berkeley

There is a new real estate development project gearing up in the city of Berkeley California. A less then 1 acre parcel of land has the potential to be a $40,000,000 project. The project will include 100 condominium units that will be developed atop 12,000 square feet of retail space.

The proposed project is located at the corner of Ashby and San Pablo Avenue. Escrow recently closed on the lot, which is now owned by Rawson, Blum & Leon a San Francisco based development firm. A partner in the project is Memar Properties of Oakland. The project will be designed by KAVA Massih Architects located in Berkeley. This will be an exiting new development to watch, with a proposed ground breaking in the Fall of 2008.

News of the story was noted in the East Bay Business Times, globest.com, and free-press-release-center.info.