Partnership Invests $23M for Affordable Homes in Alameda Co.

In partnership with UrbanCore Preservation LLC and Pacific Housing, Enterprise Community Partners will invest $23 million provided through Housing for Health Fund. The fund is an $85 million collaboration among Enterprise, Kaiser Permanente and JPMorgan Chase.

“As the cost of living in the Bay Area continues to rise, it is absolutely critical to preserve and protect unsubsidized rental homes so families in our communities can afford to stay in our neighborhoods and stay healthy,” said Heather Hood, vice president and Northern California market leader, Enterprise.

These investments will allow the purchase of three market-rate apartment buildings in Alameda County and preserve them as long-term affordable housing. All told, Redwood Crest (Oakland), 482 40th St. (Oakland) and The Grove (Hayward) contain 105 affordable apartments for local families.

“Coming out of the pandemic, the Bay Area faces a greater need for affordable housing,” adds Stephanie Ledesma, Kaiser Permanente’s interim senior vice president of community health programs. “Partnerships like this between the health and housing sector help further our goals of strengthening neighborhoods, improving health and helping communities thrive.”