Dear Editor, Thank you for your article on how the credit crisis is affecting affordable housing development in the Bay Area and California.
Despite the problems mentioned in the article, EAH Housing and many nonprofit housing providers are weathering the current economy well. While some new development opportunities may be stalled, EAH Housing has a diverse business model with an expanding management portfolio. This and our long range planning are keeping the company healthy throughout these challenging times.
We can fill properties as fast as we can build them – and affordable housing should be the bright spot in this dismal economy! With proposed changes to Federal funding programs, we could be creating thousands of jobs – just when construction jobs in housing have hit an all-time low. Housing need is growing fast, and this opportunity should not be missed by Congress, or the State.
President & CEO, EAH Housing