Oak Hill Apartments Project in Marin County, California, Secures $41 Million in Bonds

en.Wedoany.com Reported - The Oak Hill Apartments project in Marin County, California, has received half of its financing approval. The Marin County Board of Supervisors authorized the issuance of up to $41 million in bonds to support Eden Housing's proposed 115-unit housing plan within a 250-unit master plan.

Located in San Quentin, Marin County, the Oak Hill Apartments master plan includes two approximately six-story apartment buildings, landscaping, surface parking, and an 8.5-acre conservation area. Eden Housing's proposal is a 115-unit housing complex for extremely low-income and very low-income households. Another portion of the project, provided by Education Housing Partners, will build 135 units of workforce housing primarily for local educators and Marin County employees. It has been less than a year since Education Housing Partners secured funding for the second part of this hillside project.

SVA Architects is responsible for the project design, collaborating with landscape architecture firm RHAA. Renderings show two similar podium-style buildings with a collage-like facade expression and balconies, featuring multiple setbacks adapted to the sloping terrain, aiming to visually reduce the overall scale.

The project site is currently occupied by a shooting range of the California State Prison, San Quentin, located along Sir Francis Drake Boulevard, directly across from the waterfront prison.

The estimated cost for the fully built project is nearly $250 million, funded from multiple sources, including the County Affordable Housing Trust Fund, the State of California, federal Community Development Block Grants, HOME Investment Partnerships Program funds, and philanthropic donations.

The county's recently secured $41 million in bonds will be used to fund property acquisition and construction. The project's expected start date has not yet been announced.