Construction financing of $30 million has been secured to advance an affordable housing project at 820 West MacArthur Boulevard in the Longfellow neighborhood of Oakland, Alameda County. The project proposal includes the construction of a five-story building offering residential units at affordable rates.
Riaz Capital and Alameda County Partner are the project developers. Levy Design Partners is the project architect.
820 West MacArthur Boulevard corner view with new design, rendering by Levy Design Partners via Riaz Capital
The project site is a parcel spanning an area of 0.5 acres, where demolition work had previously begun. The scope of work will bring 166 affordable studio apartments at affordable rates. All units will be equipped with premium amenities to enhance the living experience for residents. The building will yield a total built-up area spanning 74,410 square feet, with 59,900 square feet for housing and 15,310 square feet for circulation and mechanical needs.
Onsite residential amenities will include co-working areas, a media lounge, bike storage, a rooftop deck, and a fitness center. The location boasts an 87 walk score with nearby shopping and is a commuter’s paradise located steps away from the MacArthur BART station.
Renderings reveal a facade designed in dark grey and blue panels with large-scale murals overlooking the MacArthur Boulevard and West Street intersection. Facade materials will include cement plaster, laminate accents, and large tiles.
820 West MacArthur Boulevard residential courtyard, rendering by Levy Design Partners via Riaz Capital
Riaz Capital has partnered with Bridge Bank (headquartered in San Jose) to facilitate the financing. In email correspondence with YIMBY, Riaz Taplin, Founder & CEO said, “we are grateful for their support and collaboration throughout this process. Additionally, we would like to extend our appreciation to the County of Alameda for their pivotal role in securing this financing. Leveraging some of its cash reserves, the County has invested in our local community banks, furthering the development of essential affordable housing initiatives.”
Adjacent to Emeryville, this development marks a significant step forward in providing affordable housing options in the East Bay. Taplin also said, “we believe that this project will not only address the critical need for affordable housing in our community but also contribute to the revitalization and enrichment of the local area.”
820 West MacArthur Boulevard lobby, rendering by Levy Design Partners via Riaz Capital
The project utilizes the California State Density Bonus law and Oakland’s efficiency unit ordinance to increase the project’s unit count from 76 to 166 apartments. Construction is expected to start by spring of 2024 and last around 30 months.
The project site is located at the corner of West MacArthur and West Street in the Longfellow neighborhood.
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A lil’ extra height for the cross streets volume would really hold the corner.