Major Funders: Union Bank; California Housing Finance Agency; California Department of Housing and Community Development; California Tax Credit Allocation Committee; city of Oakland; Northern California Community Loan Fund; Alameda County; Annie E. Casey Foundation
Nonprofit developer Resources for Community Development (RCD) is helping to revitalize the Lower San Antonio neighborhood in Oakland, Calif., with its 55-unit Clinton Commons.
The neighborhood was blighted, and there had been a lack of affordable and family-size units. The Annie E. Casey Foundation’s Making Connections Oakland initiative in early 2000 began to assess the needs of this community.
The place-based initiative, which focuses on strengthening families, created its own closed fund. RCD used the fund to acquire the site and hold it until full financing was achieved.
The development, which was completed in September, serves families earning between 30 percent and 60 percent of the area median income. It is home to 11 individuals and families with special needs. To serve larger families, Clinton Commons features 17 three-bedroom and three four-bedroom units. At press time, 74 children resided at the development and are served by RCD’s after-school program.
“Clinton Commons is stunning. It transforms you and takes you into a different place when you enter the property. A lot of the residents are saying that they feel like they are finally home,” says Linda Mackey, RCD deputy director.
Union Bank provided $14.2 million in tax credit equity and permanent debt of the $24.3 million development cost. State and local financial assistance included city of Oakland redevelopment and HOME funds; Alameda County HOPWA funds; California Housing Finance Agency Mental Health Services Act funds; Prop. 1C Infill Infrastructure funds; and a Northern California Community Loan Fund grant.