Renovated Low-Income Senior Apartments in Bay Area
Acq/rehab renews Oakland 62+ affordable housing, services
A joint effort by Jamboree and Preservation Partners Development, Lake Merritt was acquired and rehabilitated in 2002 to provide high quality affordable housing to seniors age 62+ in Oakland, CA, a city with both high-density and real estate prices that are out of reach for many seniors.
Located overlooking the lake in a fully walkable neighborhood, Lake Merritt provides convenient access to shopping, dining and medical centers, as well as to public transportation in Alameda County. The gated entry provides a safe environment and peace of mind, while laundry facilities and elevators provide convenience. The community room is a gathering place for residents, as well as a location for services provided by Jamboree’s Community Impact Group.
Lake Merritt had been at risk of losing local restrictions necessary to keep the community affordable for residents. With only three years remaining on these restrictions, Jamboree’s acquisition of the property ensured its ongoing affordability for residents and the community. Jamboree’s partnerships with property management, the City of Oakland, and investors allow for a quality, secure environment for seniors.