California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
‘Deeply Affordable Housing’ Projects Funded for Oakland
Affordable housing continues to be at near-crisis level across the country. In Oakland, Calif., some relief is on the way in the form of approximately $215 million to support the development of 547 deeply affordable housing rental units, according to a news release from the city:
These developments will serve Oakland households earning between 20-60% of Area Median Income (AMI) throughout the City, including 224 units of Permanent Supportive Housing/ Homeless units that would house about 280 currently unsheltered people to address the City’s homeless crisis.
The state of California is providing the money for the developments, which include:
These projects will all start construction within the next six months:
- 7th & Campbell – 78 affordable units, $42.98M (Oakland & the World, Inc. and McCormack Baron Salazar)
- Ancora Place – 66 affordable units, $38.62M (Satellite Affordable Housing Associates)
- Foon Lok East – 123 affordable units, $57.43M (MidPen Housing Corporation)
- West Grand & Brush – 58 affordable units, $25.68M (East Bay Asian Local Development Corporation)
- ◦Policy/Gov't




