Parkway Estates was completed in the spring of 2001 and is located at the intersection of Gertrude Avenue and the Richmond Parkway. The 87 single-family homes, landscaped park with tot lot, and streets named in honor of illustrious African-Americans have improved the character of the neighborhood and significantly contributed to the community. The project was developed in partnership with Oakland Community Housing, Inc., another non-profit affordable housing developer.
The homes in Parkway Estates are generously proportioned and family-oriented. They have from three to five bedrooms. The 10 acres of tree-lined streets and attractive homes could not be more different from the garbage-filled vacant lot that was there before.
Parkway Estates homes were sold to families earning a range of incomes, from below 80 percent of the Area Median Income to being able to afford the full market price. CHDC helped lower-income families secure silent second mortgages for down payment assistance through Contra Costa County and the City of Richmond, and linked them to the Mortgage Credit Certificate program. These layers of subsidies ensured that lower-income families could successfully purchase and maintain their homes.
Funding for Parkway Estates totaled over $16 million, and included a Contra Costa County Community Development Block Grant, funding from HOME and the Redevelopment Agency of Contra Costa County, City of Richmond Redevelopment Agency, an Affordable Housing Program award from the Federal Home Loan Bank of San Francisco, and a pre-development loan from the Local Initiatives Support Corporation.