OAKLAND — The city and an East Oakland church are well on their way to providing 59 new, affordably priced apartments for people at risk of being pushed aside in the red-hot real estate market.

The apartments will be rented to “low-income people who have been in a predicament where they can’t afford to live here and can’t afford to move,” said Bishop Bob Jackson of Acts Full Gospel Church of God in Christ. The apartments should be ready in August.

“We’re going to accept Section 8 so they can enjoy Oakland just like people who have a lot of money,” he said.

The complex will include 18 one-bedroom, 23 two-bedroom and 18 three-bedroom apartments. Of those, 24 will be rented to people earning less than 30 percent of the area’s median income of $96,400 for a family of four, which would be $28,920 for a family of four. The other apartments would be available to those making no more than $48,200.

It is part of a larger strategy the minister envisions to develop East Oakland.

“Most people in Oakland don’t go past High Street. I’m hoping that we can become a catalyst for other developers to come in,” Jackson said.

“It’s a great project, we have a need for that,” said Martin White, chairman of the board of Allen Temple’s economic development corporation.

But White cautioned against too much emphasis on low-income housing. “We have a need for much more than that,” he said. Allen Temple is working on a 72-unit condominium project at 88th Avenue and International targeting renters at 100 percent of area median income.

“We can’t increase the population density with just low-income housing. It’s essential for market-rate projects to come in,” he said, citing a dearth of grocery stores, banks and other essential services, and how that impacts populations such as seniors.

“I think it’s essential that these communities be integrated in a way that have both market-rate and low-income housing,” he said.

He cited apartment buildings across Grand Avenue from Lake Merritt as an example of where low-income housing worked well within a more affluent neighborhood.

Jackson warned of housing costs simply accelerating the flight of African-Americans to less expensive areas.

“At the rate we’re going, we’ll be down to about five percent,” he said. “We want to continue the diversity of Oakland that we’re always talking about.”

In addition to the 59 apartments at 9400 International Blvd., there will be a 3,000-square-foot community center “for meetings, events and whatnot, right there on the property,” Jackson said. The development also will have 3,500 square feet of retail space.

The church donated the land where the project is being built, valued at $1.3 million, and working with city Councilman Larry Reid, secured $7.7 million in city financing, $2.6 million in Oakland Housing Authority funds and a $1.9 million loan through Union Bank.

The largest share of the project’s funding, $16.6 million, came from Tax Credit Equity funds, where investors in low-income housing developments get a dollar-for-dollar reduction in their tax bills over 10 years.

The 94th and International project was one of two construction projects in Oakland approved by the California Tax Credit Allocation Committee for the tax credit program in 2015. The other is a transit-oriented 40-apartment complex at 632 14th St.

“We haven’t taken on projects before,” Jackson said, but the pastor of the 66th Avenue church said he is full of ideas for the future.

When the 59-unit project is complete, he is hoping to start another, directly across International Boulevard, currently a parking lot.

“We’re hoping to acquire that property, and as soon as we get the finishing nail on the project we’re working on, we want to swing our equipment around” and start building more affordable housing and a senior citizen complex, Jackson said.

But that’s not all. “We own a couple of other sites that we’re talking about,” he said, including on MacArthur Boulevard, where 78th Avenue becomes Parker Avenue. The church has property on both sides of the street that Jackson would like to see developed.

Oakland has “over 3,000 vacant lots and boarded-up houses,” he said. If the city or county would forgive liens and create some kind of amnesty for delinquent property taxes, a nonprofit or a developer could acquire the site and “begin to really build a nice East Oakland community,” Jackson said.