Oakland launches 1st-of-its-kind affordable housing project for teachers thanks to nonprofit

OAKLAND, Calif. (KGO) -- Oakland is launching a first-of-its-kind teacher housing project that many say could become a model for the rest of the country. It's an attempt to allow teachers to live in the communities where they work.

From the outside, it may look like a typical apartment complex in Oakland, but the tenants set it apart from other places.

"I am a special education teacher at Emerson Elementary. Go Cheetahs! I have been here now for my third year, and I don't plan on going anywhere anytime soon," Oakland teacher Melanie Turner told the crowd gathered for a ribbon-cutting Thursday at the Idora Building on Claremont Avenue.

Turner is the first teacher to move in. The building was bought to serve as teacher housing. This may be the first time ever in the U.S. that a nonprofit bought a building specifically for teacher housing, says Kya Mungia, CEO of The Oakland Fund, which works on creating public-private partnerships.

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"Historically, this is a time when outside investors have swooped in, tried to take advantage of the market, and leave when it gets hard again," Mungia said.

The Oakland Fund purchased the building through its Rooted educator housing program. Mungia says Oakland's multi-family residential market is currently depressed. The nonprofit bought the building for $12.6 million, which it explains is half the price it sold for in 2017.

"And this, I think, is an example of Oakland, once again, leading the way. This is a national model," said California State Senator Jesse Arreguin (D-Berkeley), who is chair of the Senate Housing Committee.

He says affordable housing is also about creating stable communities. The Oakland Unified School District (OUSD) estimates that 70% of its teachers can't afford to live in Oakland. Finding teachers housing, therefore, will also help with retention.

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"It makes a difference. It is really central to holding a community together," said OUSD Superintendent Denise Saddler.

"To make it a priority to have our teachers physically live in the city of Oakland just increases the city's commitment to our young people, our families," says East Bay Congresswoman Lateefah Simon (D-Oakland).

The building in the city's Temescal District. A total of 33 units will be available on a first-come, first-served basis -- and at a below-market rent rate. The Oakland Fund hopes to get to 150 units across the city. The group says what makes this project profitable is funding from philanthropy and city. The city of Oakland invested $7.5 million.

"It is also an example of how we can repurpose and rebuild and renovate and use existing housing preservation," said Oakland Mayor Barbara Lee. "This is a win-win-win on so many fronts."