Oakland Gets $50M In Affordable Housing Funds From State
The city of Oakland received $50M from the state for affordable housing development and will partner with East Bay Asian Local Development Corp., Allied Housing, Community Housing Development Corp. and Friendship Community Development Corp. to deploy the funds.
Oakland received the funding through the California Housing Accelerator and the Local Housing Trust, The Real Deal reported.
The funding will go toward two planned developments, including a 101-unit multifamily project with 52 affordable units at 801 Pine St. That development will cost $26M.
The second project, a $19M, 50-unit building at 1904 Adeline St., will include 10 affordable senior housing units.
"The state's accelerator program, leveraged by our city dollars, has unlocked our pipeline to meet Oakland's most urgent housing needs," Oakland interim Director of Housing and Community Development Christina Mun said in a press release.
Oakland Mayor-elect Sheng Thao has been vocal about supporting more affordable housing development in Oakland, telling KQED the city needs to commit to building “affordable housing, deeply affordable housing, social housing, workforce housing and moderate-rate housing.”
Oakland was recently designated as “pro-housing” in the eyes of the state of California, joining six other cities including Roseville, San Diego and Sacramento.
Cities with the designation are eligible for additional state funding and resources through the state’s Pro-Housing Incentive Pilot Program.
Oakland was lauded for its streamlined planning and permitting process, investments in bicycle and pedestrian infrastructure and a pre-approved accessory dwelling unit program, according to a press release.