For the past few years, Berkeley High School students have been walking past the abandoned 2200 block of Shattuck Avenue, formerly inhabited by many businesses, including Shattuck Cinemas, Yogurtland, and Starbucks. The block's 11 empty storefronts were recently bought by Flying Horse Investments (FHI), a Los Angeles-based real estate firm looking to reinvent them.
FHI is a real estate investment firm that specializes in retail shopping centers. Its goal is to acquire “suburban necessity-based retail” assets and enhance their value through “leasing, repositioning, and/or redevelopment.”
Ananya Subbaroyan, a BHS junior, has been walking past the abandoned block for three years. “I really liked John’s Ice Cream, and it was sad to see that store and many other stores leave it,” Subbaroyan said. As for the future of the block, she said, “I really, really want there to be a good ice cream spot or gelato or something like that. I feel like that would be really nice if there was a place like that.”
The storefronts and the 30,000-square-foot property have been abandoned for many years. The block’s most predominant business, Shattuck Cinemas, first closed in May of 2022 because the theater’s landlord decided to move forward with the redevelopment of the property due to a project proposed right behind it that required the destruction of the theaters. The cinema had been fighting against this proposed development for around 10 years before it shut down. After it finally closed, there was a domino effect on companies surrounding it, with Yogurtland, Papa Johns, and John’s Ice Cream also shutting down.
Under FHI, new businesses are expected to open on the block by the fall of 2026. Many are hopeful that this will lead to a more active block in Downtown Berkeley. “I’m thrilled that Flying Horse Investments is bringing new life to these central storefronts,” Berkeley City Mayor Adena Ishii wrote in a statement, “This deal, along with the dedicated work of our Office of Economic Development and the Downtown Berkeley Business District, will help revitalize our downtown and draw people back to the heart of Berkeley.”
Most of FHI’s projects focus on retail development; however, the exact renovations planned for the site are currently unconfirmed. Leena Heck, a BHS freshman, hopes the renovations will benefit people. She thinks more apartments would be good “because housing is a crisis in Berkeley, and it would help to make it more affordable to live here.”
Statements by employees of FHI indicated that the renovations will likely be retail- centered, as they believe this will support the community and city. FHI has been working on painting, cleaning, and remodeling the insides of some of the buildings. The company is working toward getting demolition permits to fully begin rebuilding the block.