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Historic Oakland Church Transformed into MF with Investment from Chase
The former 1930s-era Melrose Baptist Church in Oakland, CA has been transformed by Riaz Capital into a 60-unit apartment project. The painstaking restoration of the Rose on Bond, which is listed on the National Register, delivers much-needed workforce housing with units ranging from studios to two bedrooms.
The developer re-zoned the property at 1638 47th Ave., and raised private financing with investment from Chase in Historic Tax Credit equity and construction debt from First Republic Bank secured by Fannie Mae, the first for an investment of this scale in East Oakland in a generation.
The project preserves the character of the historic Spanish Colonial Revival Style architecture, while offering residents the modern amenities expected in a new construction building. In-unit features include quartz countertops, stainless steel appliances, dishwashers, tile bathrooms, private outdoor space and designer finishes. Secure parking for vehicles and bicycles is available on-site, along with an outdoor barbeque, package concierge, and laundry facilities.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development




