With more than 10 financing sources, Satellite Affordable Housing Associates transformed two century-old buildings in Oakland, Calif., into The Savoy, which serves some of the city's neediest residents.
The construction joined the two buildings at the ground level to preserve three commercial spaces and create a central lobby, a community room, services office, and a computer room. Partial and gut renovations created 101 studio apartments, each with a kitchenette and a bathroom, as well as commercial space.
The Savoy serves formerly homeless and very low-income residents. At least half of the units are occupied by people who were street or shelter homeless prior to moving in. There are more than 1,600 people on the waiting list for units.