Oakland real estate investors and businesses pour money into Uptown project

Standing in an empty lot near 22nd and Broadway, Oakland elected officials and economic boosters planted the proverbial flag for a new business district on Monday. 

The Northlake Project is a public-private partnership between the city and businesses and property owners in the Uptown part of Oakland, roughly the blocks between 19th and 27th Streets and Broadway to Lake Merritt. Businesses will put up money to pay for enhanced neighborhood security, street ambassadors, beautification projects, better street lighting and finding new uses for underutilized properties.

Real estate investor Isaac Abid, who announced the project last year, said part of the goal of Northlake is to change the narrative about Oakland for the better so people will feel comfortable coming to the heart of the city. The last few years have been “challenging” for Oakland, he said, especially in terms of “real and perceived issues around crime.” 

“We understand the city of Oakland has budget constraints, we understand the resource constraints, and we understand coming out of that is going to take time,” Abid said. “What we can do here over the next several years is make these private investments 100% from local corporations, property owners, nonprofits, and other charitable organizations, to bring capital, necessary capital, to get this project off the ground.” 

Unlike a traditional business improvement district, Northlake will get its money from private funders. It’s not immediately clear how much money Northlake plans to raise. Last year, Abid told the San Francisco Chronicle that the first step was to raise about $4 million from property owners in the neighborhood. 

According to a press release, Northlake has some wealthy partners, including the real estate company Holland Partners, and PG&E, which moved its headquarters to the old Kaiser Center building in 2022. Abid also credited his wife Puja Abid, and Warren Logan, who works for the lobbying firm Progress Public Affairs and ran for District 3 City Council last year. Abid said they served as “quarterbacks of this project for the last year.” 

Interim Mayor Kevin Jenkins and Councilmember Carroll Fife, whose district includes Northlake, both praised the public-private partnership as a model for increasing foot traffic downtown and making the city more appealing to businesses and visitors. 

“I am encouraging everyone who thinks that somehow there’s this doom loop we should be buying into, no, you are the energy, you are the battery, and you are the essence that makes Oakland what it is,” Fife said. 

Northlake will essentially enhance the services already being provided to the uptown area by the Uptown Downtown Business Improvement District. Steve Snider, who works for the BID, told attendees at the press conference on Monday that he can’t wait to partner with Abid and his team to use Northlake “as a model for how we incubate smaller neighborhoods throughout the greater downtown area.” 

Abid has become a powerful force in Oakland politics

Abid became a well-known figure in Oakland politics after he helped launch a committee to support the recall of Alameda County District Attorney Pamela Price. A different committee he created called Revitalize East Bay also funded the Price recall, but shifted its focus last year and spent heavily on several local races.  

Revitalize has played a big role in this year’s special election. The committee has given $267,000 to a different PAC that supports Loren Taylor for mayor. Revitalize also gave $22,500 to an organization called Black Action Alliance that initially billed itself as an advocacy organization for Black Oaklanders, and which recently paid for voter outreach to support Taylor. 

Unlike other political committees that have spent money on Oakland’s special election, Revitalize hasn’t disclosed who is giving it money. Some of Taylor’s opponents have speculated that Revitalize is being funded by Philip Dreyfuss, a Piedmont hedge fund executive who gave the committee about half of its money last year. 

Revitalize also gave $25,000 to Empower Oakland, an organization founded by Taylor in 2023 that interviews and endorses candidates in local races. Abid is on Empower’s endorsement committee, which is supporting Taylor for mayor.