A long-stalled Oakland housing project is seeking its sixth extension in seven years.
UrbanCore Development hasn’t made any progress on the 360-unit housing project near Lake Merritt since it was approved in 2016, the San Francisco Chronicle reported. The developer blamed the delays on rising construction costs and the pandemic.
The project is meant to be two buildings, one with 252 market-rate units and 18 affordable units and another with 90 affordable units. According to city staff, the developer has sought a nine-month extension to secure financing by Nov. 15.
If the City Council rejects the request, Oakland could lose more than $600,000 of annual tax revenue and $4.7 million in land sale proceeds. Some 729 union construction jobs would also be lost.
The site is currently being used as a temporary tiny house village for the homeless. Last summer, Council President Nikki Fortunato Bas opened up the village with pallet shelters and electricity for about 60 people, after the site had become an unofficial homeless encampment.
“It shouldn’t just sit there, it should actually be used for the public good, for an interim homelessness solution,” Bas said last summer.
Oakland is falling behind on its affordable housing goals set by the state. The city was asked to issue permits for almost 7,000 units of low- and moderate-income housing by 2023. The city has only approved permits for 1,506 affordable units so far, 22 percent of the goal. Oakland has met and exceeded the goal for 7,816 above moderate income housing permits.
“Clearly, Oakland needs to prioritize producing affordable housing, especially at very low income levels,” Bas said.
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[SFC] — Victoria Pruitt