Black Cultural Zone CDC and Eden Housing Break Ground on $135 Million Affordable Housing Development in East Oakland
Key Highlights
- ➤$135 million development will deliver 119 permanently affordable East Oakland homes
- ➤Wells Fargo provided $82 million construction loan for the project
- ➤Wells Fargo invested $57 million in low-income housing tax credit equity
- ➤Wells Fargo contributed nearly $2 million for pre-development and neighborhood revitalization
- ➤25% of homes reserved for special-needs populations identified through community engagement
Expert Statements
Carolyn Johnson, CEO of Black Cultural Zone Community Development Corporation
“Liberation Park is about more than constructing buildings. It is about creating the conditions for our community to remain, grow and thrive in East Oakland. The Residences represent what becomes possible when community vision is paired with strong development partners and meaningful investment. We are building housing, but we are also building stability, opportunity and a future rooted in the people and culture that has shaped East Oakland for generations.”
Linda Mandolini, President & CEO of Eden Housing
“Eden Housing is proud to partner with Black Cultural Zone to bring 119 high-quality affordable homes to East Oakland. Projects of this scale require strong partnerships, collaboration and a shared commitment to the communities we serve. The Residences at Liberation Park demonstrate what can happen when affordable housing is connected to a broader vision for neighborhood investment and opportunity. We are grateful to the City of Oakland, Alameda County, the State, BCZ and all of our partners whose support and commitment are helping this project come to fruition.”
Barbara Lee, Mayor of Oakland
“Every East Oaklander deserves a safe, affordable place to call home. The affordability crisis we are experiencing demands an all-hands-on-deck response, and I am very proud of the Black Cultural Zone Community Development Corporation for their visionary leadership. I look forward to soon welcoming East Oaklanders into their new, permanently affordable homes at Liberation Park.”
Lateefah Simon, Congresswoman, CA12
“The Residences at Liberation Park represent an investment in the future of East Oakland. I was honored to meet with Black Cultural Zone and Wells Fargo earlier this year to discuss this project and my work in Congress to support affordable housing development. I'm incredibly excited for the groundbreaking and next steps to ensure that longtime communities are not driven out”
Lateefah Simon, Congresswoman, CA12
“We need more safe and affordable homes in the Bay Area - that's why in Congress, I have fought for federal funding for affordable housing projects in the East Bay and supported legislation to expand housing supply and reduce housing costs for working families. I commend Black Cultural Zone CDC, Eden Housing, Wells Fargo, and all partners who made this housing project possible.”
Pete Cannava, Head of Multifamily Capital and Community Lending & Investment, Wells Fargo
“Wells Fargo is committed to supporting the mission of our clients and the communities where we live, work and play. We supported Black Cultural Zone's vision in its early stages, and today we're proud to provide the necessary capital to help deliver 119 affordable homes for East Oakland families.”
OAKLAND, CA / ACCESS Newswire / November 3, 2026 / Black Cultural Zone Community Development Corporation (BCZ) and Eden Housing broke ground on the Residences at Liberation Park, a fully funded, $135 million affordable housing development that will bring 119 permanently affordable homes to East Oakland while advancing a broader community-led vision for housing, economic opportunity and cultural preservation.
Located at 2751 73rd Avenue, adjacent to Eastmont Mall and the Eastmont Transit Center, the six-story development will provide studio, one-, two- and three-bedroom apartment homes for extremely low-, low- and very low-income households earning between 20% and 60% of Alameda County Area Median Income. Twenty-five percent of the homes will be reserved for special-needs populations identified through an extensive community engagement process, reinforcing the project's focus on addressing housing needs identified directly by East Oakland residents.
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