The AvéVista site is located in the Grand Lake district, a vibrant neighborhood in central Oakland near Lake Merritt. Plans to develop the site include the construction of a mid-rise building with four floors of residential over parking and retail to newly create 68 affordable rental homes for families and larger households.
Views of Lake Merritt, the Oakland Hills and the surrounding neighborhood will be visible from most of the completed units. The site is ideally located near ample public transit, shopping, restaurants and cafes, movie theaters, a farmers market, schools, and excellent outdoor recreational opportunities at Lakeside Park. While the new development will include ample parking, with a Walk Score of 89, its location will provide residents with the easy option to comfortably live without a car.
| Site Address |
|
460 Grand Avenue |
| Land Owner |
|
Oakland Housing Authority |
| Project Partner(s) |
|
BRIDGE Housing Corporation |
| Architect(s) |
|
TWM Architects |
| Total # of Units |
|
68 one-, two-, and three- bedroom apartments, including one manager’s unit |
| Target Clientele |
|
Households with maximum incomes up to 60% of AMI |
| Development Cost |
|
Approximately $30 Million |
Completion Date |
|
Winter 2015 |
| Sources of Funding |
|
Oakland Housing Authority (OHA)
OHA Long-term Ground Lease
JP Morgan Chase & Co.
Wells Fargo Bank
Federal Home Bank of San Francisco - AHP Grant
Section 8 Project-Based Voucher loan |
AvéVista Fact Sheet-Printable Version