Bank of America Merrill Lynch Low-Income Housing Challenge 2016
Authors: UC Berkeley, CalBUILD Team: Genise Choy (MCP, 2016), Alexandra Stein (MCP, 2016), Ashley Weinstein-Carnes (JD, 2016), Daniel Rodriguez (MBA, 2017), Orintheo Swanigan (EWMBA, 2016), Joseph Magsaysay (BArch, 2016)
Team Advisors: Professors Carol Galante and Michael Smith-Heimer
Development Partner: Resources for Community Development
In response to rampantly escalating home prices and rental rates that are sweeping the Bay Area, CalBUILD has partnered with Resources for Community Development (RCD), a well-established affordable housing developer, to bring HEARTWOOD COMMONS, a 145-unit development including 120 new affordable rental and 25 for-sale units, to West Oakland. The project is designed to serve large-family households while also meeting the needs of Oakland’s creative class, which has struggled to retain affordable housing and workspace in the current market, by providing 15 dedicated artist live/work lofts and over 11,000 sq. ft. of programed community art space.