ADDRESS:
225 – 41st Street
Oakland, CA 94611
(510) 428-2255
COUNTY: Alameda County
PROJECT DESCRIPTION:
Las Palmas and Bentall Residential purchased a 77 unit senior project-based Section 8 rental community in Oakland, California, in October 2003. The complex is affordable to seniors earning up to 50% of the area median income.
The partnership completed an extensive remodel of the complex including new roof, elevators, interior offices for management, and community center with computer lab. In addition, all residential units were updated with new kitchens, flooring, light fixtures and fire alarm systems.
Baywood Apartments is near the Oakland suburb of Piedmont. It is within walking distance to grocery stores, banks, library and post office.
PROPERTY MGMT: TerraCorp Property Mgmt & RE Services
FINANCING:
Tax Credit Equity Partner: Related Capital Company
Construction & Permanent Lender: California Housing Finance Agency
HUD Subsidy: Project-Based Section 8 Contract
UNIT MIX:
5 Studios (593 Sq. Ft.)
68 1-bedrooms (604 Sq. Ft.)
4 1-bedroom/Handicap (753 Sq. Ft.)
100% AFFORDABLE: All units are project based Section 8.
RESIDENT SERVICES: More Information
