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The Refuge Apartments, located at 4400 Martin Luther King Jr. Way in Oakland, California, will be a newly built 144-unit affordable housing complex.
The project will consist of a mix of SRO+, Studios and 2-bedroom units designed with enhanced amenities and supportive services to foster a sense of community. The property will provide supportive services like case management and counseling. This model fosters shared responsibility, diversity of perspectives, and a sense of community, contributing to the overall stability and mental health of the residents.
The Refuge Apartments will deliver urgently needed affordable housing to Oakland, addressing the city’s growing homelessness crisis and to Oakland, addressing the city’s growing homeless crisis and supporting vulnerable populations with essential services. The project has received strong community support, including a letter from City Council member Dan Kalb and ongoing collaboration with the City of Oakland’s Department of Housing and Community Development.
With 80% of the construction already completed, The Refuge is poised for rapid completion compared to traditional affordable housing projects. The remaining construction, including finalizing the conversion into affordable units, is projected to be completed in 8-10 months, with the full project expected to secure a Certificate of Occupancy (CofO) within 12 months.
Hybridge Capital Management is finishing the ground-up construction of the property as an affordable housing project. In collaboration with a local affordable housing developer, Hybridge Capital Management plans to lease the property to a nonprofit organization through a master lease agreement. This arrangement will provide much needed affordable housing for vulnerable community members. With the anticipated award of low-income housing tax credits and local grants, construction completion will be possible within 12 months. Hybridge Capital Management has partnered with Five Keys, a local nonprofit service provider, to lease up the project.
Once completed, Five Keys will manage the operations of The Refuge Apartments. With a proven track record in providing supportive housing services across the Bay Area, Five Keys will oversee day-to-day property management and resident support. Their model includes case management, mental health services, and workforce development, ensuring that residents not only have stable housing but also the tools they need for personal growth and long-term success.