Oakland awards $80.5 million to five affordable housing projects

0
958

California Construction News staff writer

The City of Oakland’s housing and community development department has awarded $80.5 million in funding to five new affordable housing projects, which will create 583 affordable rental homes across the city, including units for homeless and special-needs populations.

This year’s New Construction NOFA also includes a partnership with the Oakland Housing Authority (OHA), which set aside up to $15 million for developments involving substantial OHA investment or ownership. Mandela Station Affordable is among the projects benefiting from this collaboration.

Five developments were selected from 24 applications for funding ranging from $7 million to $28 million:

Mandela Station Affordable – 1451 7th St.

  • 238 units, including 60 for homeless or special needs
  • $15 million (plus previously awarded $18 million)
  • Developer: Mandela Station LP (Pacific West Communities, Inc. and Strategic Urban Development Alliance, LLC)

Liberation Park Residences – 7101 Foothill Blvd.

    • 118 units, including 30 for homeless or special needs
    • $28 million
    • Developer: Eden Housing and Black Cultural Zone

34th & San Pablo – 3419-3431 San Pablo Ave.

      • 59 units, including 30 for homeless or special needs
      • $7 million
      • Developer: 34SP Development LP (EBALDC)

The Eliza – 2125 Telegraph Ave.

  • 96 units, including 20 for homeless or special needs
  • $20 million
  • Developer: Mercy Housing California

3135 San Pablo – 3515 San Pablo Ave.

  • 72 units, including 36 for homeless or special needs
  • $10.5 million
  • Developer: SAHA and St. Mary’s Center

The funding comes primarily from Measure U, a 2022 housing and infrastructure bond approved by Oakland voters. The $80.5 million will be used to attract additional state and private funding.

“We are making critical investments in housing that will directly combat homelessness and support the most vulnerable members of our community,” said Mayor Kevin Jenkins. “This funding will help us break ground on hundreds of affordable homes, especially in East Oakland, where developments like Liberation Park Residences will bring significant benefits to the community.”

A total of $420 million was requested from the 24 applicants, underscoring the high demand for affordable housing in Oakland.

The awarded projects will soon apply for additional state funding, including Tax Exempt Bonds and Low-Income Housing Tax Credits, with some also seeking Homekey+ funding as early as February 2025.

Since 2019, Oakland HCD has awarded more than $237 million to affordable housing projects. The city currently has 1,542 affordable units under construction.

As part of its efforts to address homelessness and housing affordability, Oakland continues to prioritize new, deeply affordable housing developments. The funding awarded through this round will play a crucial role in creating more equitable housing opportunities across the city.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I accept the Privacy Policy