Project Overview
Noble Tower is a 195-unit affordable housing community located in Oakland, California. The building serves a senior population in an area with a decreasing supply of affordable housing. All units in the building receive rental subsidy from HUD through a project-based Section 8 Housing Assistance Payments Contract. In order to preserve the project as affordable housing for the long-term, Related completed a rehabilitation of the project of approximately $85,000 per unit in construction costs which included numerous repairs to the building exterior, improved units, common area upgrades, and the addition of accessible units and energy efficiency features.
Applicable HUD Programs
- Project-Based Section 8
- HAP Renewal
- Chapter 15/MUTM Rent Increase
Project Details
Securing Regulatory Approvals
HAO helped Related obtain the appropriate HUD approvals for its rehabilitation plan and guided the project through the HUD approval process. To support the renovations, HAO obtained approvals to renew the HAP contract for a 20-year term with pre-approval of a post-rehabilitation rent increase under Chapter 15 of HUD’s Section 8 Renewal Policy Guide. This pre-approval was necessary to secure the financing needed to accomplish the large-scale rehabilitation. Moreover, the 20-year contract renewal ensured the long-term affordability of the project. In addition, HAO helped Related get other approvals needed in connection with the new transaction related to the ownership transfer and new LIHTC financing.
Project Outcomes
Rehabilitation Leads to Preservation of Much Needed Elderly Housing
Related’s rehabilitation of Noble Tower will preserve the project as affordable housing for the long-term and provide the Oakland community with an important affordable housing asset. Through its work with HUD, HAO helped Related make this rehabilitation possible and provide for long-term subsidy for 195 senior households.
View Examples of Our Other Work
Our partnership with Redwood Housing shows how HAO guides clients through complex, multi-phase projects. See other examples of our work by viewing our project portfolio.
