A joint effort by Jamboree and FPI Management, Lake Merritt was acquired and rehabilitated in 2002 and renovated in 2018 to maintain the high quality affordable housing to seniors age 62+ in Oakland, CA. The Bay Area is known for both high-density and real estate prices that are out of reach for many seniors.
All units received new kitchen and bathroom cabinets and countertops, ENERGY STAR appliances, new windows, new flooring and paint, and a new sprinkler and nurse call system. The exterior renovations include modernizing the stucco with new paint and installing a new TPO roof.
Located overlooking Lake Merritt in a fully walkable neighborhood, the community provides convenient access to shopping, dining and medical centers, as well as public transportation in Alameda County. The gated entry provides a safe environment and peace of mind, while laundry facilities and elevators provide convenience. The newly enlarged community room with storefront windows is a gathering place for residents and a location for services provided by Jamboree’s Community Impact Group.
Lake Merritt had been at risk of losing local restrictions necessary to keep the community affordable for residents. With only three years remaining on these restrictions, Jamboree’s acquisition of the property ensured its ongoing affordability for residents and the community. Jamboree’s partnerships with property management, the City of Oakland, and investors allow for a quality, secure environment for seniors.