For older adults living on fixed or limited incomes, The Eliza, an affordable senior housing development opening in the fall of 2027 in Uptown Oakland, will offer something that can feel out of reach in today’s housing market: a way to remain in the Oakland community where they’ve put down roots.
Finding an affordable place to live continues to be a challenge for many as widespread housing shortages persist across the U.S. Rising home prices and high interest rates have made homeownership inaccessible for a large portion of the population. Meanwhile, as rental demand increases, the number of renters facing affordability challenges is also on the rise.
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…