Back View

CP&DR News Briefs May 28, 2024: Oakland Coliseum; San Mateo Housing Suit; Carbon Emissions; and More

May 28, 2024

Oakland to Sell its Share of Coliseum Site to Developers
The City of Oakland has reached a tentative deal to sell its share of the Coliseum site to the African American Sports & Entertainment Group for at least $105 million. The sale marks the end of an era following the departures of the Warriors, Raiders and Athletics from the Oakland Coliseum and Oakland Arena. Plans for redevelopment include retail, hotels, housing and potential attractions for sports teams. A complication is that, even though the A’s are leaving the site for Las Vegas, they are in the process, pending a court decision, of purchasing the other 50% of the site from Alameda County; that transaction has been underway since 2019. The team previously rejected an offer from AASEG for $115 million. Oakland’s sale of its Coliseum share aims to revitalize the underutilized site, potentially accommodating various developments to rejuvenate the area and attract new businesses and activities. (See related CP&DR coverage.)

READ MORE