Oakland Waterfront Hotel to Become Affordable Housing
Z Hotel, located in Oakland’s Jack London Square, is slated to be converted into affordable housing.
Thanks to Mercury News and The Registry SF for sharing the news that Riaz Capital will be transforming the hotel into micro studios designed for workplace professionals who earn between $50,000 and $120,000 a year such as our teachers, police officers, and firefighters.
Riaz Taplin, a principal executive with Riaz Capital, noted “This property will offer a true California lifestyle, similar to what many of us remember from television’s ‘Melrose Place’, but at a monthly rent that is roughly three-quarters of studios elsewhere in the neighborhood.”
Currently, Z Hotel has 102 rooms and will undergo a yearlong renovation of the property which features onsite amenities such as a pool, fitness areas, a lounge, and coworking spaces. Upgrades to the property include brand new finishes and full seismic and structural upgrades.
Z Hotel makes an attractive location for working professionals, just two blocks from the waterfront, in the heart of Jack London Square, close to nightlife, art galleries and museums, restaurants, and outdoor recreation.
“Riaz Capital is investing in affordable solutions for those who are considered essential workers but have difficulty finding housing that fits their budget,” Taplin said.