Property Profile: Estrella Vista, Emeryville

Estrella Vista is an affordable mixed-use apartment community in Emeryville, CA, providing studios and one- through four-bedroom apartments for families. The project was supported by a collaboration between EAH Housing, the primary non-profit affordable housing provider, and the cities of Emeryville, Oakland, Alameda County, Oakland Housing Authority, and the Housing Authority of the County of Alameda to provide much-needed housing for East Bay families. Non-Profit Housing Provider: EAH Housing.

Estrella Vista is an affordable mixed-use apartment community in Emeryville, CA, providing studios and one- through four-bedroom apartments for families in a 6-story mid-rise building. Located by the “star” intersection of San Pablo Avenue, W. MacArthur Boulevard, and Adeline Street, and to symbolize the impressive location, a public art structure was integrated in the area that connects the two buildings called “Polaris” (the star). Estrella Vista provides ground level retail on an infill site and is close to transit, shopping and local job centers. The community has several indoor and outdoor common spaces for residents.

EAH Housing is committed to sustainability, and Estrella Vista implements environmentally friendly features such as photovoltaic solar panels, a solar water heating system, low-flow plumbing fixtures, energy-efficient appliances and lighting, water-efficient landscaping, and an emphasis on recycled materials. Additionally, Estrella Vista includes electric vehicle charging stations and a bicycle storage area.

Estrella Vista offers comprehensive resident services focused on wellness and community-building, such as youth programming, digital literacy classes, financial assistance referrals, and food security resources as well as a full-time Resource Coordinator.

Funding Source:
Estrella Vista’s senior debt financing consists of a tax–exempt private activity bond financed loan which was privately placed with Wells Fargo Bank, National Association, pursuant to as Master Pledge and Agency Agreement with the California Municipal Finance Authority, the issuer of the bonds. Wells Fargo Affordable Housing Community Development Corporation is the investor/limited partner in this “4%” tax credit equity syndication. The project improvements are on land leased from the City of Emeryville over a 75-year term. Other financing participants are from the City of Emeryville, City of Oakland, Vouchers from Oakland Housing Authority, Vouchers from Housing Authority of Alameda County, HCD, CCRC.