Source: The Housing Authority of The City of Alameda
ALAMEDA, CA - The Housing Authority of the City of Alameda (AHA) is breaking ground on a re-development project at Rosefield Village. AHA has owned Rosefield Village since 1956 and will oversee all aspects of the re-development. When construction is completed in mid-2022, the site density will have increased from 53 units to 92 units.
Located at 727 Buena Vista Ave., with convenient access to services and public transportation, Rosefield Village, is a mixed income family housing development that offers affordable housing options for Alameda's low-income residents. In addition, Alameda Unified School District (AUSD) employees who earn 20% to 80% of the area's median income will be eligible to apply to live in the apartments.
"By increasing site density at Rosefield Village, the Housing Authority can continue its mission of providing affordable housing options for Alameda's low-income residents and the synergy with AUSD makes this project even more impactful for Alamedans." stated Vanessa Cooper AHA Executive Director.
City of Alameda Mayor Marilyn Ezzy Ashcraft and Alameda County Supervisor Wilma Chan celebrated (virtually) the groundbreaking of Rosefield Village.
Funding sources for Rosefield Village include the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee, the City of Alameda HOME and CDBG Program, the County of Alameda A1 Bond Funds, a Bank of America construction loan, a Freddie Mac permanent mortgage services by Greystone Servicing Company, former redevelopment funds through the Alameda Unified School District, Housing Authority of the City of Alamedaloan funds, general partner equity investment from Island City Development, and limited partner equity investment from Enterprise Housing Credit Investments LLC. The General Contractor is JH Fitzmaurice Inc.