: efficiency apartments, often studios or one bedrooms, designed with smaller floor plates to enable the developer to charge comparably affordable rents for new-construction product. The developer, which could not be reached for comment Friday, has previously told me studio units in its portfolio rent for between the high $1,000 and low $2,000 monthly.Property records show Riaz Capital purchased the 3030 Telegraph Ave. site from Sutter Bay Hospitals for $4.6 million in July.
The combined 301 units that the two projects would bring online could be a welcome addition to Berkeley’s housing supply. The project at 2300-2310 Ellsworth, specifically, sits across the street from the south side of UC Berkeley’s campus and could cater to the growing student population there, which is facing its own insular housing shortage.
UC students in Berkeley might pay as much as $2,500 per bed in a double room; you can read more about those dynamics
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