Cap-and-trade dollars for San Francisco, Los Angeles, El Cerrito, Lancaster
SAN FRANCISCO, CA, February 1, 2022—BRIDGE Housing developments in San Francisco, Los Angeles, El Cerrito and Lancaster were awarded $95,057,931 by the California Strategic Growth Council under the latest round of the Affordable Housing and Sustainable Communities (AHSC) program, which aims to promote dense, transit-oriented development and lower housing-related carbon emissions. BRIDGE is a leading nonprofit developer, owner and manager of affordable housing in California, Oregon and Washington.
The awards will support affordable housing and sustainable transportation infrastructure and programs at:
- Balboa Reservoir, San Francisco ($29.6M): A joint partnership of BRIDGE and AvalonBay Communities, 1,100 new homes, 50% affordable/workforce including educator housing, more than four acres of open space with a new park and greenways.
- Jordan Downs Area H2B, Los Angeles ($13.9M): Part of a comprehensive plan to rebuild the Jordan Downs community into a mixed-use development with 1,400 new homes, jobs, parks and community amenities.
- Mayfair El Cerrito ($26.9M): 69 affordable homes, part of a mixed-income development adjacent to the El Cerrito del Norte BART Station.
- Lancaster ($24.6M): 114 affordable apartments that will incorporate one of the first large-scale, state-of-the-art electrical microgrids designed to provide all needed energy for the property.
“We are thrilled to award the 37 high-impact projects to broaden much-needed access to affordable housing and vital opportunities while protecting California from the impacts of climate change,” said Strategic Growth Council Executive Director Lynn von Koch-Liebert. “The Strategic Growth Council is committed to partnering with communities and partners like BRIDGE Housing, to bring their housing and climate goals to life, and this round of Affordable Housing and Sustainable Communities shows exactly how integrated solutions can make a transformative impact across the state.”
“The AHSC Program fosters healthier, sustainable communities through the combination of affordable homes and transportation innovation,” said Ken Lombard, BRIDGE President & CEO. “We and our partners are grateful for these important investments that will be a win-win for communities across California.”
“This funding provides crucial momentum as we work with BRIDGE and AvalonBay to build 1,100 new homes—half of them affordable—in a part of our city where we haven’t seen real growth in decades,” said San Francisco Mayor London N. Breed. “We need this state support to create the homes for our nurses, teachers, hospitality workers and all those who struggle to afford housing in this City, and who should be able to live here.”
Lancaster Mayor R. Rex Parris said, “This will add much needed housing and infrastructure to downtown and create one of the first residential developments that will provide renewable backup power to the residents in the event of a power outage.”
“This AHSC funding will support the El Cerrito community and Contra Costa County in many ways by advancing much needed affordable housing,” said El Cerrito Mayor Gabe Quinto. “This project will provide 69 units for very low-income households along San Pablo Avenue corridor adjacent to del Norte BART station and other mass transit options and amenities. The funding demonstrates how the integration of land-use, housing and transportation is fundamental to improving infrastructure while reducing GHG emissions and providing improved mobility for households at all income levels.”
AHSC is part of California Climate Investments, a statewide initiative that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving public health and the environment—particularly in disadvantaged communities. The program is administered in partnership with the California Department of Housing and Community Development.
ABOUT BRIDGE HOUSINGBRIDGE
Housing Corporation, a leading nonprofit developer and owner of affordable housing, creates and manages a range of high-quality, affordable homes for families and seniors in California, Oregon and Washington. Since it was founded in 1983, BRIDGE has participated in the development of more than 18,000 homes.