NX Ventures Wins Approval for 242-Unit Berkeley Apartment Tower Near Ashby BART

• 242 apartments approved: NX Ventures is advancing an 11-story mixed-use development at 2900-2920 Shattuck Avenue in South Berkeley.
• 30 affordable units: The project includes 22 very-low-income apartments and eight moderate-income homes.
• Retail and amenities: Plans include 3,720 square feet of ground-floor retail, rooftop decks, a garden, and parking for 13 vehicles and 68 bicycles.
• Project address: 2900-2920 Shattuck Avenue, Berkeley, California.

What Is NX Ventures Building in South Berkeley?

NX Ventures has secured approval for a new 11-story apartment building across from Berkeley Bowl, bringing 242 planned homes closer to construction. Designed by Stackhouse De la Peña Trachtenberg Architects, the development will replace existing low-rise commercial buildings and a surface parking lot on a 0.45-acre site. The proposed 125-foot-tall building will contain approximately 131,600 square feet, including residential space and ground-floor retail. Its exterior will feature wood-look siding, insulated panels, a checkerboard pattern, and Juliet balconies. Construction is expected to begin in early 2027, with an estimated 16-month buildout. The location, two blocks from Ashby BART Station, offers access to regional transit and established neighborhood retail.

 

 

What Does the Approval Mean for the Development?

The approval moves the project beyond a major entitlement hurdle, allowing NX Ventures to advance toward construction planning. The proposal uses California's State Density Bonus Law to increase housing capacity beyond what the site's base zoning would otherwise allow in exchange for providing affordable housing. The development's 242 apartments exceed the site's base density of 142 units. The application also sought flexibility involving building height, setbacks, floor area, lot coverage, open space, and bicycle parking. For developers and investors, the project illustrates how state housing incentives can unlock additional residential capacity on small urban parcels. Higher density can create more potential rental income, although the economics still depend on construction costs, financing, achievable rents, and lease-up performance.

 

 

How Will the Affordable Housing and Retail Components Work?

The project will include 30 below-market-rate apartments, comprising 22 homes for very-low-income households and eight for moderate-income households. The city documents also indicate that the applicant will pay an in-lieu fee toward Berkeley's Affordable Housing Trust Fund for the remaining portion of the applicable inclusionary housing requirement. The ground floor will contain 3,720 square feet of retail space, while residents will have access to a backyard garden and two rooftop decks. Plans call for 13 vehicle parking spaces and 68 bicycle spaces. This mix prioritizes housing and neighborhood-serving retail while limiting vehicle parking. The transit-oriented location may appeal to renters who value access to BART, nearby grocery shopping, and Berkeley's employment and education centers.

 

 

What Happens Next for Berkeley's Housing Pipeline?

With approval secured, the next major milestone is construction, currently expected to start in early 2027. The estimated 16-month schedule would put completion roughly in mid-2028 if work begins on time. The project also reflects a broader Bay Area development strategy: using state density incentives to add apartments near transit and commercial corridors. For landlords and multifamily investors, the key issue will be whether additional permitted density can translate into financially viable housing delivery amid high development costs. NX Ventures' Berkeley project is positioned to add 242 homes to a supply-constrained market, while combining market-rate housing, affordable units, and neighborhood retail on a compact site.