Oak Center Apartments
1601 Market Street • Oakland, CA
Due to its unrelenting increase in rents, the San Francisco Bay Area has been one of the most vulnerable low-income populations in the nation. For years, Community Preservation Partners (CPP) has been targeting this area for affordable housing rehabilitation and preservation for years. In 2016, CPP acquired Oak Center, a 77-unit multi-family community in Oakland, Calif.
PARTNERSHIPS
This rehabilitation was a joint venture with Related Affordable. Together, the two companies transformed Oak Center into a modern apartment complex, with high-end amenities to be enjoyed by the families. Each unit received a substantial make-over, including new flooring, counter tops and energy-efficient appliances. CPP partnered with the Foundation for Affordable Housing to provide needed services including computer and homework assistance for the residents.
CPP invested about $6 million into the project, and as a result, the residents will not face a rent increase for an additional 55 years.
Public Support
- Department of Housing and Community Development
- California Tax Credit Allocation Committee
- California Debt Limit Allocation Committee
Private Investors
- WNC & Associates, Inc.
Financial and Other Partners
- Citi Bank
- Freddie Mac
Renovation Influencers
- Icon Builders
- Residents
- Related Management
- City of Oakland Planning
- Irwin Partners Architects
- Partner Energy
Development Team
- Irwin Partners Architects
- Icon Builders
- Related Affordable
- Related Management
- Cox Castle & Nicholson (HUD Counsel)
- Partner Energy
COMMUNITY
Following CPP’s extensive renovation, Oak Center Apartments now has:
- Wifi
- New Office Space
- Enhanced Community Service Room
- Computer Room
- Enhanced roofing
- Accessibility Improvements
- Gating and security systems
- New floors
- Improved windows
- Microwaves
- New kitchens and bathrooms with solid surface countertops
- Façade improvements
- Energy-efficient dishwashers
- Drought-resistant landscaping
- LED Lighting
- Carpeting
SOCIAL PROGRAMS
The Foundation for Affordable Housing is providing the following free classes for residents:
- Computer training, including access to the Internet, classes, computer interactive learning, keyboarding skills
- GED qualification classes
- Tax preparation guidance
- English classes for non-English speakers
- Reading and writing classes
- Literacy programs
- Parenting classes
- Citizenship classes
- Health and Wellness
- Financial Literacy
SUSTAINABILITY
- Solar Thermal PV
- Windows & sliding doors
- Roofing
- Energy efficient appliance
- Energy efficient HVAC
