Financing helps launch development of apartment complex in East Oakland

OAKLAND A development of more than 100 affordable apartments has gotten underway in East Oakland after a series of real estate deals were completed to enable the financing of the residential project. The 119-unit Residences at Liberation Park apartment complex is being built near the corner of 73rd Avenue and Foothill Boulevard in Oakland, public records show. The project, located at 2751 73rd Ave., has received multiple stacks of financing, according to documents filed on Oct. 15 with the Alameda County Recorder s Office. The city of Oakland leased the land for the apartments to the project s developers. The total cost of the affordable housing development is $126.6 million, a post by a unit of the state treasurer s office shows. Officials and dignitaries held a ceremonial groundbreaking for the project on Oct. 28. The Black Cultural Zone Community Development Corporation and Eden Housing have teamed up to develop the apartment complex, whose units are restricted to tenants who make