Ground breaking ceremony at 1226 Kinau St.

·October 14, 2023·Bill 7·2 min·

Celebrating a milestone with the groundbreaking ceremony for our Bill 7 project at 1226 Kinau St. Joined by Mayor Blangiardi and Council Members, symbolizing our commitment to community-driven development.

It was October 14, 2023, a mere 10 months after the groundbreaking of our first project, when we launched our second Bill 7 development endeavor. It was a moment of pride as we welcomed esteemed guests to the groundbreaking ceremony, including Mayor Blangiardi and Council Members Calvin Say. Together, we launched this transformative challenge, emphasizing our joint dedication to community-driven development. Their presence served as a powerful reminder of the collaborative spirit driving our mission forward.

This time, the site is even more centrally located, nestled near bustling shops and restaurants like Safeway and Times. Acquired in 2022 as a vacant lot, we initially toyed with a new design concept different from our previous venture at 1427 Ernest. However, as time unfolded, we realized the wisdom in sticking to the same building design for cost efficiency while refining our 25-unit model.

Polishing the building design

It proved to be a valuable exercise, allowing us to implement several improvements. One notable enhancement was changing rooftop access, enhancing the building’s security, and adjusting window sizes and types. We maintained our construction style of precast concrete, leveraging lessons learned from our prior project to streamline processes and enhance efficiency. By incorporating feedback from our first project, we were able to expedite the permitting process and eliminate non-essential features.

Learning as we go

In essence, each project serves as a learning experience,  we grow more proficient and efficient with each project as we go. However, amidst our progress, financing emerged as a significant hurdle. With interest rates peaking in the latter half of 2023, creative financing solutions became imperative. Gratefully, with the support of our lender, we navigated these challenges and secured the necessary funding.

Looking Ahead

Our sights are set on completing the project as early as May 2024. With each milestone achieved, we are reminded of the collective effort and unwavering dedication that propels us forward. As we continue to expand our portfolio and make meaningful contributions to our community, we remain steadfast in our commitment to excellence and innovation in Bill 7 development.

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About Evan Amakata

Evan Amakata (R) is the principal broker at Oceans Real Estate and CEO of Oceans Capital LLC. As a developer himself, Evan's mission is to help people through all aspect of Real Estate, whether investing, buying/selling, renting, property managing or building more affordable housing.

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