Oakland pilot program to buy up vacant lots and properties, whose owners have defaulted on their property taxes, to transform them into low- and medium-income housing.
The city of Oakland is partnering with non-profit, Hello Housing, to undertake an affordable housing program that would "transform 26 vacant properties into permanently affordable housing for low- and moderate-income residents," reports CBS SF Bay Area.
The city's mayor and treasurer see the opportunity for the process to tackle two issues at once. "Schaaf and Levy said the new “Oakland Tax-Defaulted Properties” pilot program has multiple goals, including creating new affordable housing units in the face of an escalating county-wide housing crisis and returning abandoned properties to the tax rolls," according to CBS SF Bay Area.
The project aims to build both single-family homes and rental properties on the currently vacant properties.
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