The City of Oakland has awarded loans of over $7 million to five affordable housing development projects that will serve families and people with special needs, formerly homeless, and those living with HIV or AIDS.
The funds were awarded to project developers after an evaluation process run by the city for affordable rental and ownership housing and rehabilitation of existing affordable housing.
Developers chosen to receive the funds include the East Bay Asian Local Development Corporation (EBALDC), Habitat for Humanity, Meta Housing Corporation, and Acts Community Development Corporation (CDC).
The funds will “develop 170 new affordable rental apartments in three projects, rehabilitate five sites of affordable ownership housing, and rehabilitate 22 units of existing affordable rental housing,” according to a city report.
The projects include: Marcus Garvey Commons at 1769 Goss St. and 1766 7th St.; the Oakland Home Renovation Program with Habitat for Humanity; and new developments at the Civic Center 14 Transit Oriented Development at 632 14th St.; 11th and Jackson Apartments at 1110 Jackson St.; and 94th and International Apartments.
Recommended funds of up to $210,000 will also be used to pay real estate transfer taxes on the California Hotel at 3501 San Pablo Ave. A total of $7,635,000 was awarded from the city’s federal grant from the Department of Housing and Urban Development and other city funds.
Promising jobs for local residents, city staffers say developers will have to comply with Oakland’s local hire guidelines, including contracting with small and minority local businesses. Developers will also be required to submit payroll records to the city’s contract compliance department to prove that local workers are hired.
Most of the projects are anticipated to be completed by 2015.