As published in the San Franciso Business Times, a recent poll the reveals many Oakland Residents favor encouraging bringing more of the Tech Sector businesses to Oakland to help simulate the local economy and to promote more development.
The poll was completed by the Oakland Metropolitan Chamber of Commerce. They polled 600 likely voters to gather their opinion on development in Oakland. Granted this is a pretty small sub-set of Oakland residents (it’s a pretty big city!), but is helps to give at least an overall feel of how some residents feel in Oakland.
Oakland is definitely having some growing pains as well. Developers have indicated that constructions costs are too high and rent too low. Despite this there have been several New Projects in Oakland approved in the last couple of years. There are some hurdles to further development as well. Four of the proposed housing projects have been appealed by local community group and labor unions. A tower at MacArthur BART stations is being opposed by neighbors who say it is too tall.
Not only is there a lack of housing, there is a lack of available office space. The office rental occupancy rate is less than 5% in Oakland.
A lot of give and take will be needed by developers, the City and its residents as Oakland becomes more popular. More housing is definitely needed to meet the growing demand, and having businesses establish themselves here helps to provide a larger economic engine for the city. Time will tell how this all works out.