Happy New Year! January is a month of new beginnings as it provides us with an opportunity for a fresh start and to build upon the progress we achieved in the previous year.
Despite the challenges of the last several years, there are many reasons for us to be hopeful as we pursue our mission to provide quality, affordable housing to those who need it the most. In the last 18 months, we have been awarded more than $278 million in federal, state, and local funding for new construction developments for multiple planned developments in California and Hawaii. An example of our growth is in Santa Monica, California. Just a few days ago, the Santa Monica City Council unanimously voted on naming EAH as developer of a 120-unit affordable housing community in downtown Santa Monica, we also received a 9% TCAC award for The Laurel, a 44-unit supportive housing community, and we are currently moving residents into the newly built Magnolia Villas, a 40-unit senior housing community.
The new developments we have planned are innovative, exciting, and are literally breaking new ground. In Monterey County, we will be building modular apartment homes for agricultural workers. In Hawai‘i, we will be building housing with a preference towards senior veterans and the partners of deceased veterans. And in Emeryville, we will be building one of the first intergenerational affordable housing developments in California, where seniors and youths transitioning out of foster care will live side by side.
Our real estate management portfolio continues to grow as we have more than 13,000 units in 222 properties throughout California and Hawai‘i.
This is a culmination of the hard work of our staff and the strong relationships we have forged between our partners, city government leaders, elected officials, and advocates. Thank you for being a part of our growth and for the support you have shown us over the years.
On behalf of EAH Housing, I wish you peace and prosperity in 2022.
President and Chief Executive Officer
As we head into October and the last quarter of the year, I like to take stock of what we have achieved throughout the year and what we still need to accomplish. Affordable housing was once only thought of as a critical issue in New York, San Francisco, Los Angeles, and Honolulu, but now it is a key concern for people throughout the country. Soon, Congress will vote on a reconciliation bill to help construct 1.38 million new affordable housing units nationally over the next nine years. It would help millions of people have a home and a foundation on which to build. I urge you to contact your congressional representatives and senators and ask them to expand and strengthen the Housing Credit programs to provide more affordable homes.
2021 has been a whirlwind! Right now, we are on track to add more than 4,500 affordable housing apartments in the next five years. Our current development pipeline has more projects than the total we developed in the previous 25 years combined. These new communities will be built in areas where we are expanding or strengthening our presence, including Sacramento, the Central Coast, Southern California, Hawaii, and Northern California.
As we expand our footprint, we now employ nearly 700 people. Because our residents suffered the brunt of the economic crisis, we have extended our resident recovery fundraising efforts to help those most in need. We are also providing more robust services to support our residents with programs to enhance their lives, such as financial counseling, digital learning, youth coding camps, and scholarships. If you are interested in contributing, please click here.
It’s been quite a year, and we are determined to end it more successfully than ever. I look forward to sharing more good news with you soon. Thank you for your support and your shared commitment to creating more affordable housing.
President & CEO