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View the Key Steps in applying for the Below Market Rate townhomes available at Alameda Marina
Rise Housing Solutions is pleased to be managing the application and buyer selection process for the Below Market Rate (BMR) homes on behalf of the developer, Landsea Homes, and the City of Alameda.
We are excited to announce the availability of 25 brand-new BMR townhomes at Island View and Waterside, located at Alameda Marina. These homes are affordably priced to households earning Very Low income (50% AMI), Low-income (80% AMI), and Moderate-income (120% AMI). Income limits below.
The first four homes will be offered for sale in the fall of 2023, with the remaining units to be made available at a later date. We invite you to check our website regularly for the latest updates on the availability of these homes. There will be three (3) separate lotteries for the fall 2023 offering, one lottery for each of the income limits.
Please read through all of the information. Throughout the pre-application period, there will be three application buttons available, which will direct you to the application page.
Update: The Pre-Application is now closed. A lottery was held on September 26, 2023 and ranking positions were emailed to all eligible applicants on September 27th. Lottery results for each income category can also be found here: Moderate (120% AMI), Low (80% AMI), Very Low (50% AMI).
Update: The first four homes available during the fall of 2023 have been sold. We anticipate additional BMR homes will be available in the fall of 2024. To find out more about what’s happening at Alameda Marina sign up for our Rise Updates.
HOA dues pay for: Common area landscaping, paved areas, outdoor lightings, cluster mailboxes, building exteriors, storm water & vapor intrusive management and sewer repairs. HOA also includes a AC Transit Easy Pass (APT yearly pass) per unit.
APPLICATION DETAILS
On September 26, 2023, a lottery will be held for all eligible applications submitted during the application period, the results will be sent to all eligible households. Applicants will be invited, in ranking order, to an application workshop and to submit full applications with supporting documents. Households who are invited to submit full applications will be required to demonstrate they have at least a 3% down payment and be able to qualify for mortgage financing for the purchase price of the home.
There are three lottery applications for these residences. If you believe that your family qualifies for all three income brackets, please submit a separate application for each income bracket.
Applicants can receive up to a maximum of 2 points based on the criteria below:
To qualify for one preference point, a member of the household must currently: 1) maintain a primary residence at an address located within the City of Alameda, 2) work for wages or salary within the boundaries of the City of Alameda, or 3) own or operate a business in the City of Alameda.
To qualify for one additional preference point, at least one member of the household must work for wages or salary for the Alameda Unified School District.
Minimum Household Size: One person per bedroom. For example, a 2-bedroom home requires at least 2 people on the application.
Learn More about these homes
View the Alameda Marina Marketing Flyer
Learn more about what’s happening at Alameda Marina.
Rise Housing Solutions, Landsea Homes, and the City of Alameda do not discriminate against any persons on the grounds of race, color, religion, national origin, ancestry, sex, gender, gender identity, gender expression, sexual orientation, marital status, familial status, source of income, genetic information, medical condition, physical disability or mental disability, or any other category protected by law.