Even as City Council struggles to find $10 million per year to finance its Affordable Housing Trust Fund, the Urban Redevelopment Authority Board has voted to approve a $1.36 million loan as part of a $15.6 million project that will yield 49 affordable housing units on Allequippa Street and along Wadsworth Street in West Oakland.
The project involves the rehabilitation of 24 existing rental units at what is now called Allequippa Place, and the construction of 25 new units on vacant lots already purchased from the URA on Wadsworth St.
“The existing configuration of Allequippa Place is 24, two-bedroom units,” said Housing Director Tom Cummings, reading from Executive Director Robert Rubinstein’s report. “The new configuration will convert 12 of those to three-bedroom units. The units are in need of substantial repair—including mechanical system replacements and other updates including kitchens and baths.”
Except for one three-bedroom unit, he said, the new construction would all be one-bedroom units. All would be restricted to low-income renters.
“Five of the units will be targeted to households with incomes at or below 20 percent of the (Area Median Income), 20 of the units will be reserved for households at or below 50 percent of the AMI, and 24 units will be reserved for households at or below 60 percent of the AMI,” Cummings said.