I live in Alameda, about three miles from where the shooting took place. Honestly, I'd feel OK in most parts of Oakland during the day. It's unfortunate this is fairly common here, but Oakland still doesn't have the Third World slum feel of cities like Detroit. As someone else mentioned, there are a number of nice parts of the city, and the gentrification of San Francisco has spilled over into Oakland (much like Brooklyn with NYC) with areas like Uptown and Temescal becoming yuppie/hipster havens, and the trend will only continue to increase with the uptick in the economy.
Edit: If anyone wants a pic of the intersection, I'd be happy to go take one.