New apartment complex, The Caroline, coming fall 2027

The construction on Central Oakland’s new Caroline Apartments is “growin’ strong.”

In the fall of 2027, Walnut Capital Management will expand their University Commons housing hub with the brand new Caroline Apartments. The building — located on McKee and Louisa — is expected to open in September 2027 with 160 units and 480 beds, as each unit houses two to three people. 

Walnut Capital remodeled the property, named after Pitt football’s “Sweet Caroline” gameday anthem, from an office building and “old, small apartment[s],” according to a statement from Todd Reidbord, president of Walnut Capital and a Pitt alumnus.

“Most of the units are three-bedroom apartments [where] each bedroom has its own bathroom,” Reidbord said. “All the furniture is included, so it’s a different type of product than we currently have at University Commons.”

The Caroline will include amenities such as a fitness center, yoga studio, study lounges, an arcade, a courtyard with grilling areas and a grab-and-go market.

Although Walnut Capital has not released specific pricing, these apartments will cost more compared to other University Commons apartments because the units are fully furnished, according to Reidbord.

“They’ll be very competitive with what other Pitt students are paying in the other similar buildings throughout the market, as well as the dorms,” Reidbord said. “Our view is you’ll get more value out of our buildings.”

The Caroline will be competing with nearby high-end complexes like The Bridge on Forbes, SkyVue and One on Centre.

Rachel Lau, marketing and engagement coordinator of Walnut Capital, described the complex as “the newest and most vibrant student-friendly apartment community.”

The Caroline Apartments intend to be the next “evolution” of Walnut Capital’s apartment complexes, according to Reidbord. 

“We understand more than anybody what Pitt students want [and] what Oakland is all about,” Reidbord said. “[Caroline Apartments] will be our best building ever.”

Reidbord guaranteed the apartments would be ready for students to move in by September 2027.

“This team has been together for close to 25 years, so we’re really good at what we do. And so the bottom line is, we’ll deliver,” Reidbord said.

Reidbord said he is closely involved with the project, and he and his team are available to contact regarding complaints from nearby residents. 

“I come down to look at the project almost every day,” Reidbord said. “We’re really on top of it, and if there’s any problems or any complaints, people know exactly how to get a hold of us, and we’re gonna take care of it right away.”

Students interested in following construction and leasing updates can sign up for Walnut Capital’s mailing list.