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 Hawai‘i. 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 its downtown area. 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 fee management portfolio continues to grow as we have 13,000 units in 222 properties throughout California and Hawai‘i.
This is a culmination of your hard work and the strong relationships we have forged between our partners, city government leaders, elected officials, and advocates. Thank you for putting in your best effort every day.
I am excited about the future! There is a lot to look forward to in 2022 and remember, you are making a difference in the lives of our residents, teammates, and communities.
President and Chief Executive Officer