CMFA Completed the issuance of $17,866,991 in Bonds for the Camino 23 Apartments
The CMFA Completed the issuance of $17,866,991 in bonds for Satellite Affordable Housing Association. The proceeds of the Bonds will be used to finance the construction of Camino 23 Apartments. Camino 23 is a 37-unit new construction project serving seniors located in the San Antonio District of Oakland at 1233-1253 23rd Avenue. Units will be rented to households earning less than or equal to 50% AMI. Satellite Affordable Housing Associates (SAHA) proposes to demolish the vacant warehouse and construct a new, 37-unit affordable housing development on the site. The five-story L-shaped building will feature space for property management and supportive services offices and indoor community spaces for residents to enjoy. Laundry and parking will also be provided on-site. The ground floor parking garage allows drive-thru access to an additional rear surface parking lot accommodating up to 15 parked vehicles. This financing will create 36 units of affordable housing for households in the City Oakland for 55 years.