Completed in 2016, Prosperity Place offers 70 affordable multifamily units and ground floor commercial space in the Chinatown/Lake Merritt neighborhood of Oakland. The building includes an outdoor central court yard, play structure and community room. Prosperity Place residents enjoy a central location near the Chinatown commercial district, Lake Merritt, the Oakland Public Library, the Oakland Museum of California and numerous restaurants and public transportation options.
|One Bedroom (1/1)||-||Call for Price|
|Two Bedroom (2/1)||-||Call for Price|
|Three Bedroom (3/1)||-||Call for Price|
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Oakland but actual income limits may differ for units at Prosperity Place.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$50,000||$57,150||$64,300||$71,400||$77,150||$82,850||$88,550||$94,250|
|Low Income (60%)||$60,000||$68,580||$77,160||$85,680||$92,580||$99,420||$106,260||$113,100|
Prosperity Place is managed by East Bay Asian Local Development Corporation.