East Bay Permanent Real Estate Cooperative Secures 4799 Shattuck to Preserve Community Space

When Omni Commons faced foreclosure, CAST stepped in to help explore options for saving the beloved community space. What followed was a fast-paced effort that brought together partners and resources swiftly to secure the building’s future.

In January 2024, CAST was invited by Omni Commons to tour 4799 Shattuck, a unique 20,000-square-foot facility in Oakland’s Temescal neighborhood. Developers had been eyeing the property, and with foreclosure looming, it became clear that urgent action was needed to keep the site in the hands of the community.

Omni Commons had initially secured the property with the help of a generous trust that provided both a grant and a loan. However, the challenge of repaying the loan put them at risk of losing the building. CAST saw an opportunity to step in and explore ways to help preserve this vital community space. Our goal was simple: keep 4799 Shattuck in service of the community.

We moved quickly, engaging Omni Commons and proposing a non-binding letter of intent. However, this was not a hasty process—CAST held a series of meetings over the course of a few months to better understand the Omni Commons structure, its leadership dynamics, and the challenges they were facing. This level of transparency and candid discussion was key. Our approach was deliberate, acknowledging the gravity of the situation while ensuring that all voices were heard and decisions were made collectively. We recommended that the Collective assign a single intermediary to CAST and asked those with voting rights to take responsibility for informing their peers to ensure alignment.

The plan involved transferring equity in the property to CAST, reworking the governance structure, and revisiting operational agreements to ensure the building could be sustainably managed. Time was tight, and while CAST wasn’t able to raise the $1 million needed to pay back the trust directly, we worked to identify potential investors and partners who could help.

It was through these efforts that we connected with the East Bay Permanent Real Estate Cooperative (EB PREC). After we updated them on Omni Commons’ situation, EB PREC recognized that the building’s future hinged on a shift in governance and quickly re-engaged with Omni. Their commitment and ability to move fast were key, and they ultimately stepped in to close on the property.

“The biggest benefit to working with CAST was that they had already done some of the hard negotiating, bringing some hearts and minds to the fact that there would have to be structural changes at Omni for this project to move forward… The fact that CAST was able to rally and both of our teams had enough familiarity and trust in each other was super beneficial in helping us move forward in a timely way.”

— Ojan Mobedshahi, Finance Director at EB PREC

While CAST didn’t secure the property ourselves, this outcome is a testament to the power of collaboration and aligned missions. We were able to bring together the right people at the right time, and though the result doesn’t show up directly on our scorecard, it reflects our commitment to preserving spaces like 4799 Shattuck for the long-term benefit of the community.

We congratulate EB PREC and the Omni Commons community and look forward to seeing this space thrive under their leadership. It’s a reminder that we are stronger when we work together to keep our communities rooted and resilient.