Oakland, CA – This week, the City of Oakland took another step to increase the supply of affordable housing and alleviate homelessness by approving $13.5 million in new funds toward housing.
On Monday, the City Council approved tapping into 2016’s Measure KK, a $600 million infrastructure and affordable housing bond, that will help fulfill Mayor Libby Schaaf’s “17K/17K” goal to protect 17,000 housing units and produce 17,000 new housing units in Oakland by 2024.
“The only solution to homelessness is housing,” Mayor Schaaf said. “Every unit helps fight our cost of living crisis – and that’s why I’m thankful to Oakland voters who passed Measure KK. The measure protects vulnerable Oaklanders across the city from being forced out of affordable housing and helps keeps long-term residents rooted in our community.”
In the 2018, the city anticipates completing a record 3,477 new units of housing.
Monday’s action will convert 66 market rate units into affordable housing, as well as help fund an additional 538 affordable housing units in Oakland.
Eighty-two percent of voters approved Measure KK in 2016.
To read more about Monday’s passage, and see where the housing projects are located, click here.
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