Oak Center Apartments
1601 Market Street • Oakland, CA
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.
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
Private Investors
Financial and Other Partners
Renovation Influencers
Development Team
Following CPP’s extensive renovation, Oak Center Apartments now has:
The Foundation for Affordable Housing is providing the following free classes for residents: