Acquired, Branded, Renovated and Managed
84-unit · mixed-use apartments
Prior to its acquisition, 1122U was per bed student housing. Located in the heart of Berkeley on University Avenue and offering full Bay views from the rooftop deck, the property offered tremendous potential for repositioning to conventional market rate housing. 1122U features studios to five bedrooms, with a percentage allocated to affordable units. Amenities include a rooftop study lounge, full gym and landscaped interior courtyard. The 3,900 sq. ft. of ground floor retail houses a Berkeley staple, Algorithm Cafe.
Upon takeover the property underwent a renovation, the entire property was painted with low VOC paint. Landscaping was transitioned to native and drought tolerant plantings to reduce the irrigation expenditure. Bicycle racks were added to the garage to encourage alternative transit, and complimentary shuttle service provided to BART and UC Davis. In unit appliances were upgraded in phases to energy-star rated appliances and new flooring was installed. 1122U also features on-site composting and a green cleaning supply program for residents.
When GEM acquired the property on behalf of private investment, it was apparent that the property needed significant attention. A full cosmetic upgrade was needed. Capital improvements were prioritized for the common spaces and units, allowing for reconfiguration of many of the per bed suites into market rate units. All common area furnishings were replaced, and the property received an interior and exterior paint. The property was renamed and rebranded as 1122U.