Villa Oakland
About the project
OakBrook Partners was founded in 2014 with a vision to work towards solving the housing crisis in the Bay Area by creating new, high-quality affordable housing.
OakBrook Partners is headquartered in Oakland, CA.
LISC provided $5.71 million in acquisition financing to aid in the new construction of a 105-unit multi-family affordable housing project. At completion, the project will create 34 units dedicated to permanent supportive housing for individuals at 20% of area median income (AMI) and set aside 61 units for individuals below 80% AMI. A total of 50% or 53 units will be set aside for unhoused youth, resulting in an estimated 85 youth housed by the project. Villa Oakland will offer resident services and case management through Covenant House California, the project's Managing General Partner, whose mission is to lift the lives of homeless and trafficked youth.
The investment is part of the Bay's Future Fund, a $500 million loan fund designed to address funding gaps in order to accelerate the preservation and production of affordable housing in five counties of the Bay Area: Alameda, Contra Costa, San Francisco, San Mateo, and Santa Clara.
Partner:
OakBrook Partners
Location:
Oakland, CA
Total Investment:
$5.71 million
Results:
105 units
Project Category:
Affordable Housing
Product:
Acquisition loan
Website:
UN SDGs:
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