{"id":425530,"date":"2026-08-06T16:08:21","date_gmt":"2026-08-06T16:08:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/425530\/"},"modified":"2026-08-06T16:08:21","modified_gmt":"2026-08-06T16:08:21","slug":"oakland-deal-aims-to-preserve-affordable-status-for-three-housing-hubs-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/425530\/","title":{"rendered":"Oakland deal aims to preserve affordable status for three housing hubs"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" lazyautosizes lazyload\" alt=\"Residential tower at 725 Market St., one of three highrises that are part of the City Towers housing complex in West Oakland, seen in February 2025.(Google Maps)\" width=\"905\" data- src=\"https:\/\/www.newsbeep.com\/us-ca\/wp-content\/uploads\/2026\/08\/1786032501_243_SJM-L-OAKWHOUSING-03.jpg\" \/>Residential tower at 725 Market St., one of three highrises that are part of the City Towers housing complex in West Oakland, seen in February 2025.\u00a0(Google Maps)<\/p>\n<p>OAKLAND \u2014 The affordability status of hundreds of low-income units at <a href=\"https:\/\/www.kdfcommunities.com\/ar-city-towers\" rel=\"nofollow noopener\" target=\"_blank\">City Towers<\/a> in West Oakland will most likely remain after a deal was completed recently to acquire the properties.<\/p>\n<p>Through an affiliate, <a href=\"https:\/\/rainbowhousing.org\/about-us\" rel=\"nofollow noopener\" target=\"_blank\">Rainbow Housing Assistance Corp.<\/a> bought the complex for $35.2 million, documents filed on Aug. 4 with the Alameda County Recorder\u2019s Office show.<\/p>\n<p>The Arizona-based real estate firm is a nonprofit that buys, revamps, and preserves affordable housing nationwide. In the Bay Area, the firm owns a combined 953 units in San Jose, Hayward, Antioch, Pittsburg, Hercules, Rohnert Park and Napa.<\/p>\n<p>City Towers, at 1055 and 1065 Eighth St. and 725 Market St., consists of 231 apartments contained within three 12-story high-rises. Each tower has 77 units.<\/p>\n<p>The seller in the deal was an affiliate of Irvine-based Affordable Housing Access, which bought the complex in 2004 and later spent $4.5 million on renovations.<\/p>\n","protected":false},"excerpt":{"rendered":"Residential tower at 725 Market St., one of three highrises that are part of the City Towers housing&hellip;\n","protected":false},"author":2,"featured_media":425531,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[380,389,184,387,7,8,332,383,1337,1533,181,100,143,145,144,33494,388,94685,14442],"class_list":["post-425530","post","type-post","status-publish","format-standard","has-post-thumbnail","category-oakland","tag-affordable-housing","tag-alameda-county","tag-bay-area","tag-business","tag-california","tag-california-news","tag-east-bay","tag-economy","tag-housing-development","tag-keywee","tag-latest-headlines","tag-news","tag-oakland","tag-oakland-headlines","tag-oakland-news","tag-oakland-real-estate","tag-real-estate","tag-social-alert","tag-west-oakland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/425530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=425530"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/425530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/425531"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=425530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=425530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=425530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}