$50 million awarded to build affordable housing units in Oakland
OAKLAND – The city of Oakland and its developer partners are receiving approximately $50 million to support the development of affordable rental housing units.
The awards came from the California Department of Housing and Community Development and California Strategic Growth Council through the California Housing Accelerator and the Local Housing Trust Fund programs.
The developments funded by these new awards will serve Oakland residents who earn between 20 to 60 percent of Area Median Income and will include 60-plus units of Permanent Supportive Housing and financial literacy, employment counseling, educational and cultural programs provided by Abode Services, Inc.
The following projects will begin construction within the next six months:
Friendship Senior Housing (1904 Adeline Street): 10 affordable units, one unrestricted manager unit (50 total) - $19 million. Developers: Community Housing Development Corporation & Friendship Community Development Corporation
The Phoenix (801 Pine Street): 52 affordable units, 1 unrestricted manager unit (101 total) - $26 million. Developers: East Bay Asian Local Development Corporation & Allied Housing Inc.
"The State's Accelerator program, leveraged by our City dollars, has unlocked our pipeline to meet Oakland's most urgent housing needs," said Christina Mun, Oakland's Interim Director of Housing & Community Development. "We are elated to see our experienced community-oriented housing developers, East Bay Asian Local Development Corporation and Community Housing Development Corporation, moving these important projects forward to provide affordable housing for Oaklanders."