Oakland Affordable Housing Eyes Parking Lot for 126 Homes

Oakland Affordable Housing Group wants to build 126 affordable homes in the center of the East Bay city.

The Modesto-based nonprofit has filed preliminary plans to construct an eight-story complex at 315 15th Street in Downtown, the San Jose Mercury News reported. It would replace a parking lot.

Oakland Affordable Housing bought the lot in 2016 for $8 million, according to the newspaper. The entitled lot has recently listed for $6 million, according to a marketing brochure by Corcoran Icon Properties, as reported by The Real Deal.

Plans for 126 apartments would use state law SB 330 to streamline the city approval process for the affordable housing proposal.

The project near 15th and Harrison Street would include ground-floor space for shops and restaurants.

Next door, a six-story, 118-unit apartment building on the corner at 1445 Harrison Street has listed for $23.8 million, according to Loopnet. The mixed-use, 55,800-square-foot building, built in 1925, started life as the Coit Hotel.

A connected parking lot approved for 127 units is listed for $6 million, according to a marketing brochure.

The parking lot on 15th Street, now leased to Kaiser Permanente for its trucks with some tenant parking, appears to be the same lot where Oakland Affordable Housing wants to build the affordable homes.

Oakland Affordable Housing Group, led by Frederick Lewis III, is affiliated with the Merced-based Central Valley Coalition for Affordable Housing, according to state business records. Lewis has posted a listing of the historic Coit property and parking lot on his LinkedIn page.