OAKLAND, CA, September 15, 2009---Affordable Housing Finance magazine has named Mandela Gateway Townhomes as the 2009 Readers’ Choice Awards winner in the homeownership category. The awards, which recognize the nation’s top affordable housing developments, will be presented next month in Chicago.

Mandela Gateway Townhomes is a newly constructed, transit-oriented homeownership community located in West Oakland, adjacent to the iconic Mandela Gateway Apartments and retail services, including a new organic grocery. Each of the 14 homes features a washer/dryer hook-up, one-car garage, patio and a shared landscaped area. The below-market-rate homes are priced to be affordable for families earning no more than $89,300 for a household of four (100% of Area Median Income).

Only one brand-new, three-bedroom, two-bath condominium is still available at this award-winning property. Interested first-time homebuyers may contact 415.495.HOME (4663), option 150 or mandela@homebricks.com for more information or to schedule a showing.

“I love everything about it,” said first-time homebuyer Adelaide Nzeusseu. “I love the color, the big space, having my own garage.”

The community was developed by Mandela Gateway Townhomes LLC, an affiliate of BRIDGE Housing Corporation. “This award is truly an honor,” said Lydia Tan, Interim President and CEO of BRIDGE Housing. “Mandela Gateway Townhomes marks the final phase of our work along the Seventh Street corridor, and it’s exciting to be part of the revitalization taking place across from the West Oakland BART Station.”

Financing for the $5.9 million Mandela Gateway Townhomes was provided by The Oakland Housing Authority, the City of Oakland, the Redevelopment Agency of the City of Oakland, Mechanics Bank, Federal Home Loan Bank, Bank of America and BRIDGE Housing Corporation. Michael Willis Architects designed the development, and the general contractor was the James E. Roberts-Obayashi Corp.

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NOTE TO EDITORS: Photographs of Mandela Gateway Townhomes are available; please contact Lyn Hikida at 415.321.3552 or lhikida@bridgehousing.com to request.