The Pacific Companies Create Affordable Housing by Using Tax-Exempt Financing Issued by the CMFA
The CMFA issued $98,000,000 in tax-exempt financing for the Oakland International Station Apartments. Oakland International Station Apartments is a new construction project located in the City of Oakland on a 2.89-acre site. The project is the first phase of a proposed two-phase development that will eventually include a total of 484 units. The proposed project consists of 321 restricted rental units and three unrestricted manager units. The project will have 261 one-bedroom units and 63 two-bedroom units. The project will consist of one six-story elevator-serviced residential building. The type of construction will be a five-story modular constructed residential structure supported by a ground level podium concrete slab parking structure. Common amenities include a courtyard, laundry room and areas for reading, fitness and lounging. The construction is expected to begin September 2018 and be completed in August 2020. This project will provide the City of Oakland with 321 much needed units of affordable housing for the next 55 years.