Oakland Approves Affordable Housing Development with Long-Term Ground Lease
Town of OaklandCity · OK- Disclosed value
- $3,760,000
- From meeting minutes
- Document date
- Feb 4, 2025
- Term
- 99 years
The 30-second brief
The City of Oakland is authorizing a Lease Disposition and Development Agreement with Satellite Affordable Housing Associates for the development of 94 affordable housing units on a portion of the 12th Street Remainder. The agreement includes a 99-year ground lease with $1 per year base rent plus rent based on the appraised $3,760,000 fair market value of the parcel.
Satellite Affordable Housing holds this ground lease contract with Town of Oakland. Its other public contracts on record include work for City of Berkeley and Oakland Housing Authority.
Term as filed: 99 years.
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Contract details
- Contract type
- Ground Lease
- Amount
- $3,760,000
- Document date
- February 4, 2025
- Term
- 99 years
- Agency
- Town of Oakland
- Source document
- town-of-oaklandmeeting-minutes2025-02-04_1df.pdf (Meeting Minutes)
Satellite Affordable Housing's other public contracts
More Town of Oakland contracts
Questions about this contract
Who was awarded the ground lease contract by Town of Oakland?
Satellite Affordable Housing was awarded this ground lease contract by Town of Oakland, as recorded on February 4, 2025. The contract value is $3,760,000.
How much is the Satellite Affordable Housing contract with Town of Oakland worth?
The Satellite Affordable Housing contract with Town of Oakland is valued at $3,760,000, covering ground lease work.
What type of contract is this?
This is a Ground Lease contract, documented as a meeting minutes record.
Where was this contract approved?
This contract appears in town-of-oaklandmeeting-minutes2025-02-04_1df.pdf (Meeting Minutes), dated February 4, 2025 from Town of Oakland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Satellite Affordable Housing hold?
Satellite Affordable Housing may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Oakland currently buying?
Explore Town of Oakland's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.