Lennar Doubles Down on Oakland, Plans a Second Large Project.

One of the country's largest homebuilders plans to break ground before the end of the year on Oakland's tallest residential tower and is also pursuing another project nearby, for a total pipeline of nearly 500 units.

Lennar Multifamily Communities, a division of Lennar Corp. (NYSE: LEN), received approvals last month to build a 254-unit tower on a parking lot at 1640 Broadway. At 380 feet and 33 stories, it would be Oakland's tallest new residential building and its third-tallest building overall, although a nearby highrise planned at 1900 Broadway could also compete for the title if it seeks a height extension.

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