Before it’s finished with its first apartment project along Melwood Avenue in Oakland, the Hudson Cos. is already teeing up a companion project next door.
With the framing for The Julian, a ten-story apartment building at 419 Melwood Ave., all but topped off, Hermitage-based Hudson presented its plan for a new 12-story project called The Parker, located right next door to The Julian, during a community meeting of Oakland Planning and Development Corp. on Monday, May 13.
Presentation materials provided by the developer note that The Parker is expected to reach two stories taller than The Julian and total 166 units. It’s expected to be built at 435 and 445 Melwood, now comprising two small warehouse properties, one of which is used by the clothing retailer Steel City.
It’s a proposal Hudson is starting to move forward on as it works to near the completion on The Julian, a 148-unit project for which the company offered a “sneak peak” on its website in late March, featuring photos that show the framing of the structure all but completed with a crane operating out of an
interior courtyard flanked by two wings of the new building. Officials for Hudson were not immediately available for comment.
Presentation materials show Hudson’s design for The Parker will call for a full mix of apartment sizes, including studios, one-, two- and three-bedroom units, as well as offering 10% of the units, or 17, at rents that meet standards of affordability.
According to presentation materials, Hudson plans to include 117 parking spaces in the project along with 56 bike parking spaces.
Hudson has been aggressively expanding its apartment holdings in the region, both in buying established properties — Brix at 26 on the South Side and Hyland Hills are among its holdings — as well as building others.
The company started construction recently on another project of companion apartment buildings in the Strip District, with construction crews working on demolition and site work at 2929 Smallman St. and 6 30th St., on which Hudson is approved to build a 105-unit project and a 129-unit project on sites that are partially adjacent to one another.
In February, Hudson closed on $121 million in financing for the two Strip District projects, including two $50 million loans from Dollar Bank along with two $10.5 million loans from the ERECT Funds.
