Economy

City Council approves plan to prevent displacement of residents, increase affordable housing

Oakland’s City Council took steps Wednesday night to address the city’s current housing problem by unanimously approving the “Housing Action Plan and Policy Framework” set out in the “Oakland Housing Equity Roadmap.” The policy seeks to prevent the displacement of long-time residents, build new affordable housing, and improve housing habitability and tenant health while maintaining affordability.

Health tech companies leaving Mission Bay for downtown Oakland, citing lower rent

Biotech companies, the California Institute for Regenerative Medicine and physicians’ group Brown & Toland to downtown Oakland, are moving to downtown Oakland. The city, already home to health giants like Kaiser Permanente and household products maker Clorox Co., offers a more attractive price points with easy access to transit, according to biotech companies making the move to Oakland.