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Emeryville Lofts

Located in the City of Emeryville in Alameda County, California, this innovative one-block residential neighborhood covers a wide range of incomes and has become a community of homeowners and businesses. 

Twenty-six of the 141 units are affordable for first-time homebuyers of low- and moderate incomes. The Emeryville Lofts is Northbay Family Homes's first project in Alameda County.

Northbay Family Homes became involved in Emeryville Lofts at the request of the property owner, who faced a huge tax penalty on another transaction if the Emeryville project stalled beyond a certain date.

The City of Emeryville wanted this building, which was a run-down warehouse, to be creatively adapted for use as a retail and residential building. Despite its location near a former paints manufacturer and the resultant environmental concerns, Northbay Family Homes worked with the builder and the City of Emeryville to mitigate the environmental concerns, add another floor to the building to create one million-dollar condominium, and design functional live-work loft spaces and an enclosed, controlled parking facility.

Northbay Family Homes' position as a nonprofit organization was critical to the success of this project. The property owner saved more than $3 million in taxes, and 26 affordable condominiums were created in the heart of the San Francisco Bay Area, because of Northbay Family Homes.

Our involvement in Emeryville Lofts included the following services from our Seven Points of Entry in real estate development:

• Entitlement Approval (facilitating the project approval process)
• Securing the Construction Financing
• Occupancy Activities (getting buyers into ownership units)
• Post-Occupancy Asset Holding (managing the investments following completion and occupancy)