D
eveloper Isaac Abid is all-in on Oakland, despite the city's ongoing struggles with office vacancies, a lost sports team, and crime concerns. He believes Oakland has a unique culture that will drive its comeback. "It's hard to put into variables and spreadsheets," he said, but his confidence in the city's potential is unwavering.
Abid thinks the business community can help accelerate the city's recovery. He co-founded NorthLake, a neighborhood improvement group backed by commercial owners in Uptown Oakland, where his company Lakeside Group recently acquired 180 Grand Avenue. Abid is also leading an effort to recall Alameda County District Attorney Pamela Price, citing concerns about crime and its impact on the retail sector.
The Revitalize East Bay Committee, which includes NorthLake, has donated over $250,000 to the recall campaign. The committee has also supported Oakland City Council candidates Warren Logan and LeRonne Armstrong, as well as Emeryville's John Bauters, who is running for county Board of Supervisors. Abid sees this coalition lasting beyond the election, with a mix of real estate, tech, and business owners working together on a long-term strategy.
Abid has also started the Downtown Oakland Partnership with the Oakland Chamber of Commerce, bringing stakeholders together to revitalize the area. He believes that organizations committed to staying in the city during tough times will drive its recovery. "The organizations and stakeholders that stay when times are tough are committed," he said.
As a developer who invests in and lives in Oakland, Abid's efforts straddle his work and personal life. His company, Lakeside Group, recently acquired 180 Grand Avenue at a discounted price of $30 million, or about $100 per square foot. The building will be repositioned with concierge services, a redesigned lobby, and plans to reactivate the ground floor.
Abid believes Oakland's future is not tied to San Francisco's, despite their regional economic linkages. He thinks investors should consider Oakland as an independent entity, with its own strengths and opportunities for growth. "Oakland doesn't need San Francisco to be successful or not," he said.
