About The Property

The AvéVista site is located in the Grand Lake district, a vibrant neighborhood in central Oakland near Lake Merritt. Plans to develop the site include the construction of a mid-rise building with four floors of residential over parking and retail to newly create 68 affordable rental homes for families and larger households.

Views of Lake Merritt, the Oakland Hills and the surrounding neighborhood will be visible from most of the completed units. The site is ideally located near ample public transit, shopping, restaurants and cafes, movie theaters, a farmers’ market, schools, and excellent outdoor recreational opportunities at Lakeside Park. While the new development will include ample parking, with a Walk Score of 89, its location will provide residents with the easy option to comfortably live without a car.

  • The Building

Site Address: 460 Grand Avenue​
Units: ​68 one-, two-, and three- bedroom apartments, including one manager’s unit
Green Building: GreenPoint Rating​ 132 Points
Completion Date: Winter 2015
Awards: NAHRO Award of Excellence

  • The People

Architect(s): TWM Architects
Landowner: Oakland Housing Authority
Project Partner(s): ​BRIDGE Housing Corporation
Population(s) Served: Households with maximum incomes up to 60% of AMI
Section 3: The development was subject to Section 3 requirements – and there were 28 Section 3 hires

  • The Funding

Development Cost: $31,474,410
Sources of Funding:

  • Oakland Housing Authority (OHA)
  • OHA Long-term Ground Lease
  • JP Morgan Chase & Co.
  • Wells Fargo Bank
  • Federal Home Bank of San Francisco – AHP Grant
  • Section 8 Project-Based Voucher loan