By Sponsored by JPMorganChase

Mercy Housing California and JPMorganChase help neighborhoods—and residents—thrive.

Finding an affordable place to live remains a challenge for many as widespread housing shortages persist across the U.S. Rising home prices and high interest rates have made homeownership inaccessible to a large portion of the population. Meanwhile, as rental demand increases, the number of renters facing affordability challenges is rising.

The State of the Nation’s Housing 2025 by Harvard University’s Joint Center for Housing Studies reveals that cost burdens for renters reached another record high in 2023. Similarly, the JPMorganChase Institute reports that renter affordability is declining, forcing people to devote more of their take-home pay to housing costs. There is a growing need for affordable housing across the U.S., and that rings true here in Oakland.

To close that gap, it’s essential that all Oakland residents share in its growth, with housing options that accommodate a range of needs and budgets. For Mercy Housing California, this meant delivering a concrete solution to the local community, resulting in housing for individuals and families who otherwise might not have been able to live in the area.

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For older adults living on fixed or limited incomes—including seniors who had been without a stable place to call home—The Eliza offers something that can feel out of reach in today’s housing market: a place to belong in the Oakland community where they’ve put down roots. Developed by Mercy Housing California with support from J.P. Morgan, The Eliza brings 97 new homes to seniors aged 62 and older, with 20 of those homes set aside for seniors who were formerly homeless. Here, “affordable” means rents are tied to what residents can actually pay so that a home stays within reach rather than consuming a household’s entire budget.

“As housing costs continue to rise across California, far too many older adults living on fixed incomes face the heartbreaking risk of displacement or homelessness, often for the first time later in life,” said Tiffany Bohee, President of Mercy Housing California. “Here, seniors can age in place independently, access onsite services tailored to their needs, and find a community where they can truly feel at home. Thanks to the commitment of partners like JPMorganChase, we’re helping ensure Oakland remains a place where seniors of all incomes can age with dignity, stability, and belonging.”

“We’re proud of the far-reaching impact this project will have. It reflects Mercy Housing California’s mission to uplift our communities and expands the supply of high-quality, affordable homes,” said James Vossoughi, Community Development Banking, J.P. Morgan. “Every additional housing unit matters—and increasing the number that are affordable is critical.”

A broader commitment to Oakland’s future

While The Eliza is foundational, the vibrancy of a community depends on much more. In Oakland, the firm provides banking services to more than 675,000 customers and works across sectors to expand economic opportunity. Over the last five years, JPMorganChase has invested $35 million in local nonprofit organizations, supported 61,600 small business clients and delivered financial health education to thousands of residents to broaden access to banking, financial health resources, homeownership and other wealth building tools.

“As we work with local stakeholders to expand housing options, JPMorganChase’s goal is to create inclusive economic opportunity for all,” said Dan Schrauth, Managing Director, J.P. Morgan Private Bank and Chair, Bay Area Market Leadership Team, JPMorganChase. “When our communities thrive, we all thrive.”

The journey to close the affordable housing gap continues, with industry leaders like Mercy Housing, Inc. finding a path forward to bring real solutions to the Oakland community.

Locally and nationally, this project reflects JPMorganChase’s American Dream Initiative, a commitment to scaling local housing solutions across the country—learn more at www.jpmorganchase.com/America.

You can also read more about what’s happening in the Bay Area at https://www.jpmorganchase.com/communities/sf-bay-area.

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By Bo Tefu, California Black Media

Last week, Gov. Gavin Newsom announced $109.6 million in Proposition 1 funding to create 278 permanent supportive homes in Bakersfield, Contra Costa County, Sacramento and Fresno, including 103 homes reserved for veterans experiencing or at risk of homelessness.

The funding, awarded through California’s Homekey+ program, is intended to expand permanent supportive housing and behavioral health services for veterans and other Californians experiencing or at risk of homelessness. State officials said the investment advances Proposition 1, the voter-approved measure aimed at increasing housing, treatment and support services for people with behavioral health needs.

“Every Californian deserves a safe place to call home, particularly the veterans who bravely served our country,” said Newsom in a statement on July 23. “California voters approved Proposition 1 because they know we must do more to address homelessness and behavioral health challenges.”

The largest award, nearly $32.6 million, will help the City of Fresno and Parkway Prime LLC convert an interim housing project into 84 permanent supportive homes at Parkway Terrace, including nine units reserved for veterans. The City of Sacramento and Urban Capital LLC will receive nearly $31.9 million to develop the Rio Linda Senior Housing Project, which will include 100 homes, 49 of them reserved for veterans.

Contra Costa County and Satellite Affordable Housing Associates will receive $28.8 million to develop an 82-unit senior housing community, with 62 units designated for people experiencing or at risk of homelessness who have behavioral health challenges, including 30 units for veterans. In Bakersfield, Community Action Partnership of Kern will receive nearly $14.1 million to convert a 38-room motel into 30 permanent supportive homes, with 15 units reserved for veterans.

State officials also announced an additional $2.3 million for three previously awarded Homekey+ projects in Olivehurst, Sanger and Stockton, primarily to support operating costs and increase veteran housing.

Since its launch, Homekey+ has awarded $968.4 million to 54 permanent supportive housing projects expected to create 2,749 affordable homes statewide, including 723 homes reserved for veterans. Officials said Proposition 1 is expected to expand California’s behavioral health system by funding additional supportive housing, treatment facilities and services for people experiencing homelessness and behavioral health challenges.

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OAKLAND — Newly appointed Oakland Police Chief James Beere joined faith leaders, nonprofit representatives and community advocates on July 22 for a wide-ranging discussion on public safety, affordable housing, homelessness and civic engagement.

Hosted by the Interfaith Council of Alameda County (ICAC), the meeting brought together clergy, businesses and residents to identify practical resources, strengthen community partnerships and coordinate action on issues affecting Oakland and surrounding Alameda County communities. Participants also discussed opposition to a proposed coal terminal in West Oakland.

Beere, the meeting’s keynote speaker, discussed strategies for collaborating on public safety, community policing, Oakland’s Ceasefire program and ICAC’s overnight safe-parking sites for unhoused people living in vehicles in East and West Oakland.

Dr. Jim Hopkins, pastor emeritus of Lakeshore Avenue Baptist Church, offered a prayer for Beere following his remarks.

The conversation then turned to affordable housing. Evita Chavez, a senior program officer with the Local Initiatives Support Corporation, discussed resources available to affordable housing developers and advocates, including predevelopment assistance, development coaching and partnership opportunities.

Representatives of No Coal in Oakland — Ann Harvey, Margaret Rossoff and Ted Franklin — joined Care 4 Community lead organizer Nicole Dean to discuss the proposed development of a coal terminal in West Oakland near the Bay Bridge.

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The advocates said transporting thousands of tons of coal from Utah through Contra Costa and Alameda counties to Oakland for overseas shipment would increase daily traffic and pollution in West Oakland, a historically underserved community with high rates of asthma and other health problems.

Meeting participants also viewed the Oakland FAITH art gallery, which features photography and maps documenting 450 clergy members and congregations across the city. The project was created by photographer Nicolo Sertorio.

During the meeting, ICAC founding president Dr. Ken Chambers also raised concerns about funding for the organization’s safe-parking programs. Chambers said ICAC has not yet received a $450,000 grant approved by the Oakland City Council on Dec. 19, 2023, to support overnight parking sites for individuals and families living in their vehicles.

West Side Baptist Church and Williams Chapel Baptist Church have served more than 1,000 clients through the program since it opened in 2017, according to Chambers.

Chambers said he is working with Oakland Mayor Barbara Lee and the interim city administrator to secure the grant funding. He said the money would allow the program to accommodate up to 50 clients each night and provide a safe environment, wraparound services, minor automobile repairs, smog checks, Department of Motor Vehicles registration assistance, insurance support, job development and help securing permanent affordable housing.

Joe Davis, an ICAC client, described how the program helped him transition from living in his vehicle to temporary housing and employment.

“If it hadn’t been for a safe place to park overnight, and now I’ve moved into a tiny home temporary shelter, I started a new job working at the post office, walking distance from the program. I’m so thankful,” Davis said.

ICAC’s next community meeting is scheduled for Sept. 10 from 1 to 2:30 p.m. at the Oakland FAITH Gallery, 1500 Broadway in downtown Oakland. The meeting will focus on job development at the Port of Oakland.

For more information or to donate, visit interfaithac.org or call Chambers at 510-239-6969.

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