The CMFA Works with MidPen Housing Corp. to Finance Affordable Housing with Tax-Exempt Financing of $42,823,442
Vista Estero Apartments is a new construction project located in Oakland on a .78-acre site. It consists of 109 restricted rental units and 1 unrestricted managers’ unit. The project will have 106 one-bedroom units and 4 two-bedroom units. The building will be a four-story frame structured building over a two -story podium base. Common amenities include a large community room, lounge, fitness room, management offices, conference space, craft room, computer room and laundry room. Each unit will have a kitchen, bathrooms and closets. There are 82 parking spaces provided. The project will be pursuing LEED certification. Green features include energy and water efficient appliances and fixtures, solar thermal and photovoltaic panels to offset the hot water heating costs and drought-tolerant landscaping. The construction is expected to begin December 2018 and be completed in December 2020. The financing of this project will result in creating affordable housing for 109 low-income households in the City of Oakland for 55 years.