102 Apartments Remain Affordable for Families and Seniors
SAN RAFAEL, CA (April 3, 2019) – Today, EAH Housing announced the acquisition of The Hilarita Apartments in Tiburon. The property has 102 units, including one-, two-, three- and four-bedroom apartments. More than 200 people live at The Hilarita, including many working families, middle and high school-aged students, and low income senior citizens.
“Acquiring The Hilarita is part of our ongoing commitment to sustainability and the preservation of affordable housing,” said Welton Jordan, vice president of real estate development for EAH Housing. “Through the EAH Housing Stewardship Initiative, we are ensuring that affordable rents are kept available in communities with high housing costs, and committing that EAH is ready to assist when the status of affordable properties are threatened or a board is in need of external support from a likeminded non-profit.”
The purchase of the property from the Hilarita-Tiburon Ecumenical Association (HTEA) will enable EAH Housing to renovate and preserve the property. The rehabilitation work is set to begin in 2020.
“EAH Housing is taking ownership of an affordable housing development it built more than 40 years ago for a local church group,” said Leelee Thomas, Planning Manager with the Marin County Community Development Agency. “This is a prime example of how the County of Marin works with non-profit organizations to provide housing stability to the most vulnerable populations and encourage socio-economic diversity in our communities.”
The property was built in 1975 by EAH Housing, as part of the former Section 236 program of the U.S. Department of Housing and Urban Development (HUD), which encouraged the development of multifamily affordable housing.
“We’re excited that EAH Housing was able to purchase The Hilarita,” said Carolyn Grey, board president of HTEA. “For the last two years, EAH has been managing the property, and knows the needs of the community. They have the resources and the expertise to provide quality affordable housing to our residents – people who have lived in Tiburon for years.”
The Hilarita is located in Marin County, which has the highest median adjusted gross income by county in California.
For more than 50 years, it has been the mission of EAH Housing to develop, manage and promote quality affordable housing and sustainable, diverse communities. The organization serves 20,000 people every day – working families, seniors, veterans and people with disabilities in California and Hawaii, and it is proud to continue serving all of the residents who call the Hilarita home.
About EAH Housing
Established in 1968, EAH Housing is one of the largest and most respected nonprofit housing development and management organizations in the western United States. EAH develops low-income multifamily housing, manages more than 110 properties in 55 municipalities in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts.