Black Cultural Zone CDC and Eden Housing Break Ground on $135 Million Affordable Housing Development in East Oakland
Wells Fargo provided an $82 million construction loan and invested $57 million in low-income housing tax credit equity to finance the Residences at Liberation Park, a fully funded $135 million affordable housing development in East Oakland that will deliver 119 permanently affordable homes. Wells Fargo also contributed nearly $2 million for pre-development costs and neighborhood revitalization around Liberation Park.
Key figures
- Project cost
- $135 million
- Affordable units
- 119
- Construction loan
- $82 million
- Predevelopment grants
- nearly $2 million
- Lihtc equity investment
- $57 million
AI analysis
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