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Oakland Celebrates St. Joseph's Senior Apartments Grand Opening and Terraza Palmera Groundbreaking

OAKLAND, CA, March 13, 2012---Oakland today will celebrate the grand opening of St. Joseph’s Senior Apartments at 2647 International Boulevard and the groundbreaking of the adjacent Terraza Palmera family apartments. The program begins at 12 noon, followed by a ribbon cutting ceremony and lunch. Both are developments of BRIDGE Housing, a leading affordable housing nonprofit.

St. Joseph’s Senior Apartments provides 84 affordable senior rental apartments and approximately 3,200 square feet of commercial space within what was the main building of the Oakland historic landmark, “St. Joseph’s Home for the Aged.” BRIDGE leveraged this underutilized asset to create affordable infill housing while preventing the loss of a significant historic landmark. The rehabilitation and adaptive reuse of the Main Building included seismic upgrades and complies with the Secretary of the Interior’s Standards for Rehabilitation of Historic Properties.

Adjacent to St. Joseph’s Senior Apartments, BRIDGE is developing Terraza Palmera, 62 affordable apartments for families that will be complete in June 2013. Together, the senior property and Terraza Palmera form a unique multigenerational, mixed-use campus in the heart of the Fruitvale neighborhood.

“I want to thank BRIDGE Housing, the Federal Home Loan Bank of San Francisco and the other stakeholders for their commitment to improving housing access for residents of Oakland,” said Congresswoman Barbara Lee. “This ground-breaking development is expected to trigger redevelopment in the community while also providing affordable housing for seniors and the families who will reside in this transformative, multi-generational housing campus.” 

“We are thrilled to be preserving this significant historic landmark while creating much-needed affordable housing on an infill site,” said Cynthia A. Parker, President and CEO of BRIDGE Housing.

Financing for both projects provided by: City of Oakland, Redevelopment Agency of the City of Oakland, Oakland Housing Authority, Union Bank, U.S. Bank, Federal Home Loan Bank of San Francisco, Northern California Community Loan Fund/Lower San Antonio Community Development Fund and the Evelyn and Walter Haas, Jr. Fun. Additional funding for St. Joseph’s Senior Apartments provided by the California Pollution Control Financing Authority and the California Tax Credit Allocation Committee (funds from the American Reinvestment and Recovery Act). Additional funding for Terraza Palmera provided by the voter-approved Proposition 1C Infill Infrastructure Grant Program through the California Department of Housing and Community Development.

The architect for both properties is Van Meter Williams Pollack, and James E. Roberts-Obayashi Corporation is the general contractor.

Confirmed speakers include: Oakland Vice Mayor Ignacio De La Fuente; William J. Pavao, Executive Director, California Tax Credit Allocation Committee; Kevin Blackburn, Federal Home Loan Bank of San Francisco; Cynthia A. Parker, President & CEO, BRIDGE Housing Corporation.
 

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NOTE TO EDITORS: Photographs of St. Joseph’s Senior Apartments and renderings of Terraza Palmera are available; please contact Lyn Hikida at 415.321.3552 or lhikida@bridgehousing.com to request.