The City’s Housing and Community Development Department’s Rent Adjustment Program recently sent out a notice of a hearing for tenants at Uptown Apartments, commonly known as Forest City, located in downtown Oakland at 600-601-500 William St., Tuesday, Aug. 28, 10 a.m., at 250 Frank Ogawa Plaza, Suite #5313 in Oakland.
The hearing, “Uptown Housing Workforce, LLC v. Tenants,” will deal with the landlord’s request that the apartments be declared exempt from the city’s rent law and eviction protections, although significant city funding was used to build the project, according to tenant activist James Vann.
A least one tenant has reported to the Post that her rent has been raised four times in the past year.
The Uptown Apartments complex, owned by Forest City, was a key part of former Mayor Jerry Brown’s plan to bring wealthier residents to Oakland. The Uptown development includes 665 apartments in a four-city-block site built in partnership with the city.
Recently, Forest City, an Ohio-based real estate investment firm, sold Uptown and the rest of its assets nationwide to Brookfield Asset Management for $11.4 billion including debt.
Brookfield, based in Toronto, is global alternative asset manager with about $285 billion of assets under management, focusing on real estate, renewable power, infrastructure and private equity.