The Housing Authority of the City of Alameda (AHA) is pleased to announce that over 100 new affordable homes are coming to the City of Alameda via two new housing developments (The Estuary I and Linnet Corner).
The developments of Block A (The Estuary I, The Estuary II, and Linnet Corner) represent the first phase of AHA’s North Housing Master Plan. The North Housing Master Plan is a multi-year commitment for AHA, along with Island City Development, to create 586 homes to serve low-income Alamedans in need of affordable housing. The twelve acres allocated for North Housing is situated at the former naval base and was granted to the Housing Authority (in 2019) via the Surplus Land Act by the U.S. Department of Navy. AHA has committed nearly $15 million dollars of its own funds in loans to its affiliate Island City Development and has allocated 120 Project Based Vouchers towards The Estuary I, The Estuary II, and Linnet Corner.
Island City Development, an affiliate of AHA, is the developer of this project and the Housing Authority of the City of Alameda owns the land. The architect for Linnet Corner, The Estuary I, and The Estuary II is HKIT Architects. The General Contractor is J.H. Fitzmaurice. Once both properties open in summer of 2025, all leasing and property management services will be provided by FPI Management. Building Futures, along with the Alameda Point Collaborative, will lead comprehensive case management and supportive services for residents at The Estuary I. LifeSTEPS will provide case management and resident services at Linnet Corner. “New affordable housing and supportive services have never been more desperately needed. Projects, like North Housing, make a real difference for people experiencing homelessness and housing insecurity, giving them a place to call home and helping them onto a path of stability and prosperity.”, said Tomiquia Moss, Secretary of California’s Business, Consumer Services, and Housing Agency.
Funders to the project include the City of Alameda (HOME, Community Block Development Grant, Permanent Local Housing Allocation, and Inclusionary Housing funds), US. Department of Housing and Urban Development (HUD), the California Department of Housing and Community Development (HCD), the Federal Home Loan Bank of San Francisco’s (FHLBSF) Affordable Housing Program (AHP), the Bank of Marin, California Debt Limit Allocation Committee (CDLAC), California Tax Credit Allocation Committee (TCAC) and the California Municipal Finance Authority (CMFA), the California Department of Veteran Affairs (Cal Vet), the Veterans and Affordable Housing Bond Act of 2018, the Infill Infrastructure Grant Program (IIG), the Multifamily Housing Program (MHP), and the Veterans Housing and Homelessness Prevention program (VHHP) through the California Department of Housing and Community Development, and the Local Alameda Affordable Housing Trust Fund.
“The North Housing Master Plan in Alameda County is a tremendously important public-private effort that will transform the former Naval Air Station into much needed affordable housing for our most vulnerable community members, including seniors, those at-risk of becoming homeless, and homeless veterans, and families with children. Bank of America is proud to provide construction financing and serve as the tax credit investor for these initial two projects breaking ground today.” said Gioia McCarthy, San Francisco-East Bay president, Bank of America. “These new service-rich communities will provide critical onsite support that can have a transformational impact on both residents and the neighborhood”. Bank of America, N.A will provide construction financing.
The California Community Reinvestment Corporation will provide Linnet Corner’s permanent financing and Enterprise Housing Credit Investment will provide the tax credit investments. “Home should be a place of pride, power, and belonging for everyone, regardless of income, and the Low-Income Housing Tax Credit is one of our most powerful tools in that charge,” said Kari Downes, president of Enterprise’s housing tax credit business. “We’re proud to partner with AHA in bringing more than 100 good homes to Alameda’s most vulnerable residents.”
Homes at The Estuary I and Linnet Corner will be assigned from the Alameda County Coordinated Entry System and the Housing Authority of the City of Alameda’s existing housing wait lists. Any additional housing units not requiring referrals from an AHA wait list, or the Alameda County Coordinated Entry System will be managed through interest lists run by AHA’s property management company, FPI Management.
