CMFA Assists East Bay Asian Local Development Corp. on an $45,154,423 Tax-Exempt Bond Financing
The Fruitvale Transit Village II-A Apartments is a new construction project of a 94-unit multifamily affordable housing facility. This will be the first phase of two being constructed at this site, located at the intersection of 37th Avenue and E. 12th Street in the Fruitvale neighborhood of Oakland, California. The project will be restricted to households making 50% and 60% or less of AMI. A shared paseo will sit between the phase II-A site and the future II-B site. Services will include a resident services coordinator to provide one-on-one service support including various community building and educational activities; a workforce development specialist to provide one-on-one workforce development support including individual and group sessions on job search and readiness techniques; and a long-term 3rd party case management for homeless US Veterans with mobility, medical and mental health challenges. The financing of this project will result in providing affordable housing for 92 low-income households in the City of Oakland for 55 years.