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PG&E announced this Summer that the company will relocate its headquarters to Oakland, just two blocks from our own headquarters at 1904 Franklin. After 115 years in San Francisco, the company will relocation will begin in 2022. This announcement is a major sign of confidence in Oakland, and also an indicator that commercial real estate activity may be slowly resuming in the wake of the coronavirus pandemic.

Read the full story at SF Chronicle

At Paramount Property Company, we reject racism, inequality, hatred, and cruelty in all its forms.

As an organization, we are committed to supporting the success of this important racial justice movement. We are listening and we will continue to be accountable in managing office properties in ways that reflect our nation and the best of its ideals — diversity, equity, inclusion, and cultural competence.

We are committed to doing our part to realize these overdue demands for change — by listening to our teams, our partners, those who are the most vulnerable and disenfranchised, and those struggling with the most grief. We will listen not only for ourselves and in pursuit of progress, but most importantly, out of respect for those whose voices have been silenced.

The opportunity zone market continues to draw national attention. With Paramount’s headquarters in an opportunity zone itself (West Oakland), we look forward to what’s to come in the latter half of 2019.

Bisnow writes that investors are claiming a lack of clarity is stalling any kind of large-scale benefits in opportunity zones (OZs), which proponents promised would come to distressed communities.

The story notes recent data from research company Reonomy shows a dwindling share of investments going to the country’s 8,700 OZs, but those numbers go up to March just before the Treasury Department’s second round of guidelines were released.

OZ fundraisers say they have seen enough of a boost in investment activity since April to suggest the program could start working after all. A sense of urgency also makes it more likely that opportunity zone funding could markedly increase by the end of 2019. There has been more capital drawn to opportunity zones since April, and many cities may start seeing increased investment in their designated zones.

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