Residences at Liberation Park will deliver 119 permanently affordable homes as part of a broader community-rooted investment in housing, economic opportunity and cultural preservation
OAKLAND, Calif., November 3, 2026 /3BL/ - Black Cultural Zone Community Development Corporation (BCZ) and Eden Housing broke ground on the Residences at Liberation Park, a fully funded, $135 million affordable housing development that will bring 119 permanently affordable homes to East Oakland while advancing a broader community-led vision for housing, economic opportunity and cultural preservation.
Located at 2751 73rd Avenue, adjacent to Eastmont Mall and the Eastmont Transit Center, the six-story development will provide studio, one-, two- and three-bedroom apartment homes for extremely low-, low- and very low-income households earning between 20% and 60% of Alameda County Area Median Income. Twenty-five percent of the homes will be reserved for special-needs populations identified through an extensive community engagement process, reinforcing the project’s focus on addressing housing needs identified directly by East Oakland residents.
BCZ’s CEO Carolyn Johnson said, “Liberation Park is about more than constructing buildings. It is about creating the conditions for our community to remain, grow and thrive in East Oakland. The Residences represent what becomes possible when community vision is paired with strong development partners and meaningful investment. We are building housing, but we are also building stability, opportunity and a future rooted in the people and culture that has shaped East Oakland for generations.”
Linda Mandolini, President & CEO, Eden Housing said, "Eden Housing is proud to partner with Black Cultural Zone to bring 119 high-quality affordable homes to East Oakland. Projects of this scale require strong partnerships, collaboration and a shared commitment to the communities we serve. The Residences at Liberation Park demonstrate what can happen when affordable housing is connected to a broader vision for neighborhood investment and opportunity. We are grateful to the City of Oakland, Alameda County, the State, BCZ and all of our partners whose support and commitment are helping this project come to fruition.
The $135 million Residences at Liberation Park is supported by a broad mix of public, philanthropic and private-sector partners, including the California Department of Housing and Community Development, California Strategic Growth Council, Alameda County, City of Oakland, Oakland Housing Authority, Wells Fargo and the California Municipal Finance Authority. Additional support has come from partners including the William & Flora Hewlett Foundation, RISE East Campaign, Blue Meridian Partners, Oakland Thrives, Kaiser Permanente Foundation, Hellman Foundation, The Akonadi Foundation, Google, Housing Trust Silicon Valley and Community Arts Stabilization Trust.
“Every East Oaklander deserves a safe, affordable place to call home,” said Mayor Barbara Lee. “The affordability crisis we are experiencing demands an all-hands-on-deck response, and I am very proud of the Black Cultural Zone Community Development Corporation for their visionary leadership. I look forward to soon welcoming East Oaklanders into their new, permanently affordable homes at Liberation Park.”
“The Residences at Liberation Park represent an investment in the future of East Oakland. I was honored to meet with Black Cultural Zone and Wells Fargo earlier this year to discuss this project and my work in Congress to support affordable housing development. I’m incredibly excited for the groundbreaking and next steps to ensure that longtime communities are not driven out” said Congresswoman Lateefah Simon, CA12. “We need more safe and affordable homes in the Bay Area – that’s why in Congress, I have fought for federal funding for affordable housing projects in the East Bay and supported legislation to expand housing supply and reduce housing costs for working families. I commend Black Cultural Zone CDC, Eden Housing, Wells Fargo, and all partners who made this housing project possible.”
Wells Fargo provided an $82 million construction loan and invested $57 million in low-income housing tax credit equity to finance for the development of the project. In addition, Wells Fargo contributed nearly $2 million for pre-development costs and neighborhood revitalization surrounding Liberation Park.
“Wells Fargo is committed to supporting the mission of our clients and the communities where we live, work and play,” said Pete Cannava, Head of Multifamily Capital and Community Lending & Investment, Wells Fargo. “We supported Black Cultural Zone’s vision in its early stages, and today we’re proud to provide the necessary capital to help deliver 119 affordable homes for East Oakland families.”
The groundbreaking represents a major milestone for the broader Liberation Park vision — a community-rooted development initiative designed to create lasting economic and cultural infrastructure in East Oakland while helping ensure longtime residents, artists, entrepreneurs and families can remain connected to the community.
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BACKGROUND
The Residences at Liberation Park are one component of BCZ’s larger vision for Liberation Park, which seeks to establish a long term cultural and economic anchor in East Oakland. The broader development plan includes a proposed 31,000-square-foot Market Hall & Cultural Hub designed to create permanent space for local businesses, artists, cultural organizations and community programming.
Plans for the hub include:
- Local food and retail vendor space
- An outdoor courtyard
- Performance and community gathering areas
- Coworking and office space
- Space supporting entrepreneurship and small businesses
- An outdoor roller-skating rink
- Arts, cultural and community programming
ABOUT BLACK CULTURAL ZONE COMMUNITY DEVELOPMENT CORPORATION
Black Cultural Zone Community Development Corporation works to preserve and strengthen Black arts, culture and community in East Oakland through economic development, cultural programming, community engagement and neighborhood investment. Its work is focused on creating opportunities for residents, artists, entrepreneurs and community-based organizations while advancing equitable development strategies that preserve East Oakland’s cultural identity. Learn more at www.blackculturalzone.org
ABOUT EDEN HOUSING
Eden Housing is a nonprofit organization with over 55 years of experience providing safe and affordable housing that helps families stay secure, allows communities to thrive, and solves many of the most pressing housing challenges facing California cities. Since its inception, the Bay Area-based organization has developed more than 10,000 affordable homes and is a leader in making its residential communities environmentally sustainable and efficient through integrating energy conservation. Eden is also known as a champion of housing policy advocacy at the local, state, and national level, supporting practices that both create and preserve affordable housing for diverse communities. Learn more at www.edenhousing.org.
MEDIA CONTACT: Tasion Kwamilele The Kwamilele Group 510.480.9341 | [email protected]
