SHADETREE / Oakland, CA - Cultural Impact Fund
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SHADETREE / Oakland, CA

For more than forty years, Shadetree has been a unique cultural landmark in Oakland–a place where people can live affordably and work where they live in a culturally rich, communal environment.  From artists to carpenters, costume designers to social workers, activists and musicians, this property has grown and evolved over generations thanks to this community’s spirit of collective ingenuity and perseverance.

Press:  Read the KQED story here

Property website:  shadetreeartisans.org

  • OFFERING HIGHLIGHTS

    • TOTAL PROJECT COSTS: APPROXIMATELY $9 MILLION
    • RAISED TO DATE:
      $4,800,000 CITY OF OAKLAND LOAN, 55 YEAR TERM, DEFERRED PAYMENTS
      $2,300,000 OAKLAND BASED CDFI
      $7,100,000 TOTAL
    • CONSTRUCTION COSTS: $4 MILLION
    • OPPORTUNITY ZONE INVESTORS TARGET: $2 MILLION
    • ESTIMATED RETURN ON INVESTMENT: RANGE OF 7% TO 12% TARGETED WIITH COMBINED TAX BENEFITS AND CASHFLOW

  • CULTURAL HIGHLIGHTS

    • AFFORDABLE HOUSING
    • RESIDENT CONTROLLED
    • INTERGENERATIONAL COMMUNITY
    • ARTS + TRADES
    • POTENTIAL CULTURAL HERITAGE SITE

The Shadetree Story   /  A Cultural Jewel and a Resilient Spirit

For more than forty years, Shadetree has been a unique cultural landmark in Oakland–a place where people can live affordably and work where they live in a culturally rich, communal environment.  From artists to carpenters, costume designers to social workers, activists and musicians, this property has grown and evolved over generations thanks to this community’s spirit of collective ingenuity and perseverance.

When faced with eviction in the summer of 2016, housing rights advocate Donna Smithey helped the residents of Shadetree raise $2.8M in loans after the community was turned down by 22 local lending institutions.  The residents formed a nonprofit, SHADE, and the loans enabled them to purchase their home which would have otherwise been purchased and demolished to make room for a massive new condominium project next door.

Over the next couple of years after acquiring the property, friends and family loaned SHADE an additional $300,000 to do all the work required to become a legal live/work building and prepare for new funding to refinance the current loans and pay for the construction needed to be legal.