2660 Bancroft Way | Rare Entitled Student Housing Development Across the Street from UC Berkeley | Approved for 79 units

Highlights:

• Entitled Student Housing Development Site in Core Southside Berkeley - Approved for 79 units, 2660 Bancroft Way provides a rare opportunity to acquire an entitled development site with a near-term path to construction in one of Berkeley’s most desirable student housing locations.
• Highly Efficient, Student-Oriented Unit Mix - Comprised entirely of studio units, a new developer will benefit from some of the highest per foot rents in the market while being able to provide both single and double occupancy bedroom types to support a diverse renter base.
• Limited Future Supply Enhances 2660 Bancroft’s Competitive Position - Only one market-rate development is currently under construction and scheduled to deliver in 2027, with a limited pipeline of new privately developed student housing expected thereafter. At under 50,000 square feet, 2660 Bancroft Way falls below Berkeley’s Hard Hats Ordinance threshold, providing a meaningful development advantage relative to larger-scale projects in the market.
• UC Berkeley Has the 2nd Largest Population & the Lowest Percentage of Beds Per Student of any UC Campus - With nearly 46,151 students currently enrolled and ~11,330 available beds, UC Berkeley has a significant shortage of housing options leaving more than 75% of the student population to seek off-campus housing inventory, creating substantial recurring demand for privately owned housing.
• Across the Street From the #1 Public University in the World & Steps From Greek Row - Bancroft Way is located directly across the street from the UC Berkeley campus and steps from the Bancroft Way & College Avenue intersection, a major gateway to campus. The Property’s exceptional location places future residents at the doorstep of campus, Greek Row and the heart of Berkeley’s student community.
• Limited & outdated existing UC Berkeley housing stock drives renter demand to privately owned housing - A significant portion of UC Berkeley’s existing housing inventory dates to the 1960s and earlier, creating a meaningful quality gap between legacy university housing and newly constructed private accommodations. Modern finishes, in-unit amenities and purpose-built student features position new construction to capture demand from students seeking a higher-quality living experience.

Description:

Cushman & Wakefield is pleased to present the opportunity to acquire 2660 Bancroft Way, a fully entitled student housing development opportunity in Berkeley, California. Situated in the heart of Berkeley’s highly desirable Southside neighborhood, directly across the street from the University of California, Berkeley campus and steps from Fraternity & Sorority Row, the Property offers investors and developers a rare opportunity to acquire a nearly shovel-ready project in one of the nation’s most supply-constrained university housing markets.

The Property is fully entitled for the development of 79 residential units, providing a clear path toward construction and eliminating much of the entitlement and approval risk typically associated with development in Berkeley. The approved project also falls below Berkeley’s 50,000-square-foot Hard Hats Ordinance threshold, further enhancing the opportunity from a development and execution standpoint.

2660 Bancroft Way benefits from an irreplaceable Southside location at the doorstep of UC Berkeley. Located directly across Bancroft Way from campus and just steps from the Bancroft & College intersection, the Property sits along one of the university’s primary pedestrian gateways and within immediate walking distance of academic buildings, Fraternity & Sorority Row, Telegraph Avenue, dining, retail, nightlife and other student-oriented amenities. Once completed, the project will provide residents with exceptional access to virtually every aspect of the UC Berkeley student experience.

UC Berkeley remains one of the nation’s largest and most prestigious universities, with more than 46,000 students enrolled. Despite continued investment in university-owned housing, UC Berkeley has historically been unable to accommodate the majority of its student population on campus, leaving a substantial share of students reliant on Berkeley’s private rental market. At the same time, significant barriers to new development continue to constrain the pipeline of privately developed student housing near campus.

With 79 units fully entitled, an exceptional location directly across the street from UC Berkeley, immediate proximity to Fraternity & Sorority Row and Telegraph Avenue, and limited competition from future private development, 2660 Bancroft Way represents a rare opportunity to deliver new purpose-built student housing in one of Berkeley’s most desirable and supply-constrained locations.