A promissory note was purchased from a lender in 12/2019 in partnership with Hilco Redevelopment and Square Mile. The note is secured by 87.5 acres of waterfront property located directly on San Francisco Bay in the City of Richmond, CA.
A prime location in greater San Francisco’s East Bay, the property benefits from its close proximity to San Francisco’s employment centers. The property is within walking distance of a new San Francisco Bay Ferry terminal on Richmond Bay, and just west of the I-580 corridor, with direct access to I-580 and I-80.
Development has strong city support with the property situated within the Richmond Bay Specific Plan (“RBSP”), a 500- acre Specific Plan that calls for a series of distinct, walkable, mixed-use neighborhoods.
The project includes an approved Specific Plan & certified EIR supporting +/- 2,530 for-sale and for-rent multifamily residential units, with the potential to increase to 3,500 residential units.
Shopoff has initiated site design as well as negotiating with the City on a Development Agreement.
This property is one of the number of properties that are managed by Shopoff Realty Investments, and owned by closed investment funds. For the remainder of the properties "click here"
This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.