Downtown Oakland tower project site tumbles into real estate loan default

OAKLAND — The site for a residential tower that could have become an eye-catching addition to the skyline of downtown Oakland has toppled into a loan default, raising questions about the project’s future.

The current proposal for the property envisions a 39-story housing highrise at 2044 Franklin Street in Oakland, a short distance from the 19th and Broadway BART station and the shores of Lake Merritt.

The project would have produced 425 residential units, according to plans filed by R2 Development...