OAKLAND — A residential development in downtown Oakland that could produce hundreds of low-cost apartments is moving ahead with the purchase of the project site by a group led by an affordable housing builder from Southern California.
Acting through an affiliate, Community HousingWorks paid $10.2 million for three parcels at 1523 Harrison St. where a 284-unit affordable housing development is in the works, according to documents filed on March 27 with the Alameda County Recorder’s Office.
11-story, 284-unit housing tower at 1523 Harrison Street in downtown Oakland, concept. (oWOW Design)
284-unit, 11-story housing tower at 1523 Harrison Street in downtown Oakland, concept. (oWOW Design)
The 11-story apartment tower near 15th Street is expected to have a total project cost of $86.1 million, according to a staff report that was prepared for an April 2025 meeting of the California Debt Allocation Committee, a government-created entity that allocates tax-exempt bonds for endeavors such as affordable housing projects.
The project would include 63 studios, 203 one-bedroom units, and 18 two-bedroom units, plans on file at Oakland City Hall show. An estimated 281 units would be affordable, while three would be manager’s units.
Rents could range from $876 a month to as much as $2,453 a month, depending on the size of the units and the targeted income limits for the apartments. The wage limits are expected to range from 30% up to 70% of the area median income.
The project has been in the development for about four years, with initial and more recent proposals for the site being floated by Bay Area real estate firm oWOW, which designed the latest version of the tower.
It now appears that the principal developer will be the Community HousingWorks affiliate, which landed $39.6 million in financing from the California Municipal Finance Authority, Alameda County documents show.
“Building futures” through “life-changing, affordable apartment communities with onsite, resident-centered services” is Community HousingWorks’ primary mission statement, according to a post on the firm’s website.