Addressing the stringent need for affordable housing in the Bay Area, Hybridge Capital Management has embarked on a transformative project by converting what was once student housing in Oakland into a 144-unit complex dedicated to providing shelter for some of the community's most vulnerable populations. As reported by ConnectCRE, the property located at 4400 Martin Luther King Jr. Way, aptly named The Refuge Apartments, will soon serve veterans, domestic violence survivors, and extremely low-income people.
The construction process for The Refuge is unusually swift for affordable housing projects, now 80% complete. Hybridge anticipates the remaining work, which includes interior conversion for affordable living, will be wrapped in the next eight to 10 months, and they are aiming for a certificate of occupancy within a year. Hybridge Capital joined forces with Five Keys, a notable local nonprofit, to lease and manage the property, which will ultimately be master leased to a nonprofit organization, ensuring the sustainability and integrity of its mission to support underserved communities.
More than just a haven for individuals in need, The Refuge boasts state-of-the-art modular construction brought to life by Volumeric Construction and offers views of the San Francisco skyline, the Bay Bridge, or the idyllic Oakland Hills as highlighted by Hybridge Capital's website. Residents will find themselves conveniently located next to BART, providing exceptional commute options across the Bay Area and quick access to downtown San Francisco within 15 minutes.
