In November 2016, Alameda County voters approved the “A-1 Housing Bond” also known as “Measure A-1.” This general obligation bond provided $460 Million in funding to create and renovate affordable rental housing and $120 Million for home ownership programs. As of February 2019, the County has leveraged about $80 Million in A-1 funds to generate nearly $700 Million toward thirty-one approved affordable housing projects throughout Alameda County, with additional projects slated for review.
The A-1 Housing Bond: Building & Renovating Affordable Housing
Coliseum Connection, Oakland, CA. A recently completed, mixed use development funded in part through the A-1 Housing Bond.
The County’s A-1 Implementation policies include a requirement that no less than 20% of the construction work on A-1 funded projects be completed by small local businesses, which has created a bounty of opportunities for contractors in all trades. Currently, thirty-one housing renovation and construction projects have been allocated A-1 funding.
Shaune Gbana, owner of All Bay Area Glass (featured in a separate article in this newsletter) was awarded work through Cahill Construction and UrbanCore LLC’s Michael Johnson on one such project, Coliseum Connections, located across from the Oakland Coliseum BART station.