Bay Area/ Oakland/ Real Estate & Development
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Published on May 21, 2024
Oakland Breaks Ground on East 12th Street, 91 Affordable Homes for Those in Need Near Lake MerrittSource: California Department of Housing & Community Development

Oakland is moving forward with its efforts to fight the housing crisis. In a recent development, the city commenced construction on a new affordable housing complex, East 12th Street, which promises to provide 91 affordable homes to those in need. According to an announcement by the California Department of Housing and Community Development, these homes will cater to low- and very low-income households, ensuring a roof over the heads of the most vulnerable populations.

The project, nestling at the corner of East 12th and 2nd Streets near the scenic Lake Merritt, stands as a beacon of hope, particularly for the homeless and those teetering on the brink of homelessness. A significant portion, specifically one in four homes, is earmarked for permanent supportive housing. With the support of the voters who gave the green light to Proposition 1, such initiatives are set to see a substantial uptick throughout the state.

East Bay Asian Local Development Corporation, The Unity Council, and Jordan Real Estate Investments, all Oakland-based entities, are the driving forces behind the project. Falling into place with funds including $10.9 million from the state's Affordable Housing and Sustainable Communities Program, the development represents a concerted effort among public and private sectors. "We are proud of this public-private partnership," HCD Director Gustavo Velasquez said in a statement via the California Department of Housing & Community Development. "The level of teamwork across all the agencies—and the resiliency of East Bay Asian Local Development Corporation and its affordable development partners to navigate COVID setbacks—has been a testimony to our shared commitment to housing and infrastructure investment."

However, the new housing project is not just about providing shelter. Revitalization of the surrounding public spaces is also on the cards. Oakland has bagged a $40.7 million grant from HCD’s Infill Infrastructure Grant Catalytic Qualifying Infill Area program. This injection of funds will transform the area, paving the way for street and sidewalk upgrades, enhanced transit access, and even a shiny new bikeshare station, all targeted to enhance sustainable transportation and the quality of life for the community.