JPMorganChase and Mercy Housing Bring Affordable Homes to Oakland Seniors

The affordable housing crisis persists across the United States, and Oakland is no exception. According to The State of the Nation's Housing 2025 report by Harvard University's Joint Center for Housing Studies, cost burdens for renters reached a record high in 2023.

Mercy Housing California has been working to address this issue with support from JPMorganChase. Their project, The Eliza, brings 97 new homes to seniors aged 62 and older, with 20 of those homes set aside for seniors who were formerly homeless.

The project is part of a broader commitment by JPMorganChase to Oakland's future. Over the last five years, they have invested $35 million in local nonprofit organizations, supported 61,600 small business clients, and delivered financial health education to thousands of residents.