BART and its project partners reassess development team near Lake Merritt Station


BART and its project partners reassess development team near Lake Merritt Station

BART and its project partners, the City of Oakland and the Peralta Community College District, are reassessing development team options near Lake Merritt Station now that TRG Pacific Development, a subsidiary of The Richman Group (TRG), has elected to end its involvement in the process of exploring a new vision for the area. TRG Pacific and the Richman Group have decided to focus equity on their other projects already in construction and projects which are further along in the development process.

“I look forward to engaging our partners, stakeholders, and the community on the next best steps to revitalize this promising area of Oakland,” said BART Director Robert Raburn, whose 4th District includes Lake Merritt Station. “Let’s take this opportunity to strengthen our exciting vision so that the Lake Merritt Station area can realize its full potential.”

Vision for Lake Merritt Station
The vision for the area surrounding Lake Merritt Station includes creating development oriented towards and support of public transit. Transit-Oriented Development (TOD) combines a mix of uses within short walking distances of public transportation, with Fruitvale Transit Village being a successful example in Oakland. TODs offer residents an environmentally-friendly community that helps the region as a whole by maximizing existing land near BART while minimizing urban sprawl.

Background on the Process
The BART Board of Directors authorized staff on August 9, 2012 to enter into an exclusive negotiating agreement with TRG Pacific Development, LLC. The firm was chosen by an evaluation committee consisting of BART staff, representatives from the City of Oakland, Peralta Community College District and Laney College, and three members of the community. The Evaluation Committee examined factors such as experience in developing TODs, experience in engaging communities in the predevelopment process and experience in integrating community benefits.

Learn More About BART Transit-Oriented Developments
To learn more about BART Transit-Oriented Developments, visit www.bart.gov/development