Thursday, January 15, 2009

Downtown Oakland Condo Project in Default

By Chris Thompson
Thu, Jan 15, 2009 at 9:30 AM

Here's some grim news for ya: 901 Jefferson, the upscale condo building that was a not-insubstantial piece of Jerry Brown's 10K Plan, has defaulted on a $26 million construction loan. According to the Trib, the company's lender may foreclose on the property, which consists of 75 condominiums. This is the most convincing evidence yet that Oakland's attempt to revitalize downtown while the economy still had some juice in it has well and truly stalled.

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