Fifth Ave. curbs in Oakland begin today
Two years of traffic restrictions begin Monday on a small section of Fifth Avenue in Oakland, where developer Walnut Capital is beginning construction of the 280,000square-foot Innovation Research Tower.
The one-block tower will be built between Halket Street and Euler Way, across Fifth Avenue from
Carlow University. Construction will reduce inbound traffic on Fifth Avenue from three lanes to two between Chesterfield Avenue and Robinson Street, closing the curb lane in front of the project and moving Port Authority’s contraflow bus lane one lane in for about three blocks, from Craft Avenue to Chesterfield.
As a result, Port Authority will continue a temporary outbound stop at Fifth and Chesterfield that has been in place for some time due to another project.
In addition, traffic from Fifth Avenue will not be able to turn left onto Halket Street, which will become one way toward Fifth Avenue between Euler and Fifth. The detour will have motorists continue on Fifth and turn left at Craft and left on Forbes to Halket.
Crews are expected to work throughout the week to post signs, place barriers and paint restrictions on the roadway. Flaggers will be on duty at Halket and Craft to help keep traffic moving.
Traffic on Euler is inbound only and can turn either direction at Halket.
The 10-story building is the first major project in the area designated as an innovation district. It will offer laboratory and research facilities expected to appeal to
private companies, universities and hospitals. It also will have 6,200 square feet of retail space, a 4,900-squarefoot public square, a 100space parking garage and racks for 125 bikes.
The project, expected to cost $50 million to $60 million, also has a community benefits agreement that will provide Oakland Planning and Development Corp. a $250,000 no-interest loan for its affordable housing trust fund plus a $40,000 grant to administer it.
Additionally, the building will make 4,500 square feet of retail space available to the Oakland group for $1 a year that can be leased to locally owned businesses.
The project is scheduled to be completed by July 2022.