Savoy

1424 Jefferson St, Oakland, California 94612

The Oakland Housing Authority and Satellite Affordable Housing Associates (SAHA) partnered to substantially rehabilitate hotels in the heart of Downtown Oakland that were constructed nearly 100 years ago. The Oaks Hotel was a 7-story, 84-room single room occupancy hotel with shared bathrooms and kitchens. The 6-story Jefferson Inn Hotel was a 65-room hotel with three commercial spaces on the ground floor. The two properties were combined at the ground floor to create a single entrance and lobby on Jefferson Street with 24-hour front desk service.

 

The newly rehabilitated property, renamed The Savoy, provides 101 full studio apartments for very low-income residents, including formerly homeless residents and those with special needs. The ground floor commercial spaces were also rehabilitated and include the Café 15 bistro, Annie’s Café, and On a Roll delicatessen

Units

Unit (Bd/Ba) Ft2 Rent
Studio (Studio/1) 204 Call for Price

Savoy Details

  • 102 studio bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • HOME Investment Partnerships Program
  • Section 8 Project-Based Voucher (PBV)

Property Amenities

  • Elevator
  • Laundry Facilities
  • Smoke Free
  • High Speed Internet Access
  • Wheel Chair Accessible

Unit Amenities

  • Air Conditioning
  • Refrigerator
  • Trash Included
  • Water Included

Low-Income Housing Tax Credit (LIHTC)

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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Oakland Low-Income Housing Tax Credit Income Limits

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 Savoy.

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

Savoy is managed by The John Stewart Company.

Image of Savoy

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