By Magaly Muñoz, Post Staff

Developers and business owners in the Bay Area came together for the “Oakland Structures” event hosted by San Francisco Business Times to discuss economic development projects in Oakland last Thursday.

Mayor Sheng Thao opened up the event as the keynote speaker, sharing her experiences from her first year in office and the measures her administration has taken to address the key issues plaguing the city.

Thao inherited the largest deficit Oakland has ever seen- $360 million- and came into her position as the effects of the COVID-19 pandemic were hitting the city hard. The once bustling city has faced difficulties as people transitioned to hybrid or work-from-home jobs, which has caused foot traffic to slow down and businesses to lose clientele.

“I refuse to stop until we get our businesses back up and running at full capacity, and make sure that people feel safe, not just safe in the commercial corridors, but safe everywhere,” Thao said.

Thao shared that the economic development in Oakland is slowly, but surely, growing as new companies bring their business to downtown. PG&E has recently been among the bigger corporations that’s settled in Oakland, bringing 7,000 jobs with them, which will not only open up potential opportunities for Oaklanders, but also increase foot traffic for businesses in town.

Trending

Residents Demand Right to Vote on Use of Public Funds for A’s Stadium Project

Thao acknowledged several initiatives that have already been implemented to give the city a boost, including Five After Five, a cost-effective parking program; Activate Oakland grants, which gives businesses up to $15,000 to host events that will bring the community to downtown; and the film initiative to encourage filmmakers and TV shows to shoot their projects in Oakland.

The city of Oakland is taking steps to streamline permits for businesses to entice them to stay and bring new projects to the city. Additionally, the city is committing $200 million for affordable housing, which is “unprecedented in the city of Oakland” says Councilmember Nikki Fortunato-Bas, who was also at the event.

“We have committed to supporting our community, supporting our local businesses and really showing that we can work together for safer communities,” Fortunato-Bas emphasized in an interview with the Post.

As the holiday season approaches, Fortunato-Bas urges the community to shop and dine locally, all the way from the Fruitvale to Grand Lake, areas she represents, as this will help boost and support these businesses.

During a panel with investors and business owners who have new projects breaking ground as early as 2024, a pressing question emerged among the attendees and panelists was “Is Oakland the right city to maintain and bring in businesses?”

Real estate developer Riaz Taplin, CEO and founder of Riaz Capital, said that people need to want to come back to the office and revitalize the commercial corridors of the city, but also that businesses need the support of the government sector to thrive.

He feels as though new entrepreneurs who are starting out in Oakland today do not have the advantage that many, like himself, did pre-COVID, where they could just walk into a city office and be helped on how to get the right permits because everything and everyone was so accessible.

More people would feel enticed to come back downtown if they felt that they were safe, so public safety needs to be high on the list of priorities for the city, Taplin said, emphasizing issues such as litter, vandalized business fronts and homeless encampments.

“Something needs to happen to make Broadway a place people want to go,” Taplin said after sharing a story about downtown Alameda being the busiest area with the most foot traffic out of Oakland and San Francisco.

Another panelist, Oakland Roots president Lindsay Barenz, shared that although Oakland is struggling to keep sports teams, the time is now to invest in those projects to keep the sports culture in the city.

“A sports team can be a critical component to that [a place where people enjoy living],” Barenz said.

She emphasized that the Oakland Roots see themselves as significant to the culture of Oakland as institutions like the zoo, museum, and Fairyland. She believes that the morale boost that a sports team can provide is what Oakland needs.

When asked to give a headline of what is to come in Oakland in the next five to 20 years, Taplin said, “Clean it and they will come.”

Magaly Muñoz

A graduate of Sacramento State University, Magaly Muñoz’s journalism experience includes working for the State Hornet, the university’s student-run newspaper and conducting research and producing projects for “All Things Considered” at National Public Radio. She also was a community reporter for El Timpano, serving Latino and Mayan communities, and contributed to the Sacramento Observer, the area’s African American newspaper.

Muñoz is one of 40 early career journalists who are part of the California Local News Fellowship program, a state-funded initiative designed to strengthen local news reporting in California, with a focus on underserved communities.

The fellowship program places journalism fellows throughout the state in two-year, full-time reporting positions.

Posts by Magaly Muñoz