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OAKLAND — Downtown Oakland’s tallest building is now topped out at 400 feet.

The new Atlas building at the site of the former Merchants parking garage at 1314 Franklin St. will be completed by next summer. Real estate developer Carmel Partners replaced the garage with a 40-story building atop a seven-floor podium that will include 634 residential units and about 17,000 square-feet of retail space, according to city records. There will be 600 off-street parking spaces.

Also nearly complete is a 27-story apartment tower with 250 units, 5,000 square feet of office space, and 2,500 square feet of retail space at 1721 Webster St. and the Zo apartments at 330 17th St. with its rooftop pool.

Cranes seem to be everywhere as Oakland is experiencing its first major building boom in decades.