Ninety-nine new apartment homes coming to Central Station neighborhood in West Oakland OAKLAND, CA, March 13, 2008--West Oakland today will celebrate the groundbreaking of Ironhorse at Central Station, a development by BRIDGE Housing Corporation. The groundbreaking ceremony commences at 9 a.m. at 1801 14th Street, between Wood Street and Frontage Road.
When Ironhorse opens in late 2009, it will offer 99 one-, two- and three-bedroom family apartments that will be affordable to families with annual incomes ranging from $18,000 to $50,000. Twenty of the apartments will be made affordable to those with the lowest incomes, through rent subsidies administered by the Oakland Housing Authority. Ironhorse will be BRIDGEs first GreenPoint Rated development, as well as its first to participate in the Bay-Friendly landscaping program. As a result, the design includes numerous sustainable or "green" building and landscaping measures. "This is an exemplary sustainable development project providing housing at a variety of affordable income levels, a commitment to union labor which means high quality workmanship and decent wages, and green building standards," said Nancy Nadel, Councilmember, District 3, City of Oakland. "I am excited to see our policy directions shaping our new developments to better meet the needs and standards of Oaklanders." Ironhorse stands at the center of an exciting reintegration of approximately 29 acres of abandoned former industrial land into the surrounding residential neighborhood. Ironhorse forms part of Central Station, a new master-planned undertaking by several developers including BUILD, an affiliate company of BRIDGE funded primarily by CalPERS. Altogether more than 1,200 new homes will be constructed, along with new neighborhood-serving retail and the anticipated restoration of the historic 16th Street Station. "Ironhorse represents BRIDGEs continued commitment to the development of high quality and innovative design," said Carol Galante, President of BRIDGE Housing. "We hope that these apartments, along with the other residential components and pedestrian and community amenities of Central Station, will contribute to the ongoing revitalization of West Oakland." Financing for Ironhorse is being provided by the Redevelopment Agency of the City of Oakland, California Department of Housing & Community Development, Oakland Housing Authority, Federal Home Loan Bank of San Francisco, Union Bank of California NA, US Bancorp Community Development Corporation and Wachovia Mortgage, FSB. The architect is David Baker + Partners and the general contractor is J.H. Fitzmaurice, Inc. Confirmed groundbreaking ceremony speakers include: Nancy J. Nadel, Councilmember, District 3, City of Oakland; Sean Rogan, Deputy Director of Housing and Community Development, Community and Economic Development Agency, City of Oakland; Jim Mather, Vice President, Union Bank of California, NA; Marilyn Reynolds, Community Member & Neighbor; and BRIDGE Housing President Carol Galante. For more information about Ironhorse at Central Station and BRIDGE Housing, visit www.bridgehousing.com. # # #
NOTE TO EDITORS: Renderings of Ironhorse at Central Station are available; please contact Lyn Hikida at 415-321-3552 or lhikida@bridgehousing.com to request.
ABOUT BRIDGE HOUSING
BRIDGE Housing Corporation, the leading nonprofit developer of affordable housing in California, creates and manages a range of high-quality, affordable homes for working families and seniors. Since it was founded in 1983, BRIDGE has participated in the development of over 13,000 homes serving more than 35,000 Californians. For more information, visit www.bridgehousing.com. |
