Affordable Housing for Extremely Low to Low Income Seniors and People with Disabilities
San Rafael, CA (July 8, 2020) – EAH Housing, a nonprofit affordable housing organization, announced it was chosen by Richmond Housing Authority (RHA) to redevelop Nevin Plaza, an affordable housing community for seniors and people with disabilities. Redevelopment will consist of renovating an existing seven story building with 140 units as well as constructing a new five story, 70-unit building on an adjoining parking lot.
“It’s an exciting opportunity for us to work with an existing affordable housing development and to transform it to fit the needs of Richmond,” said Welton Jordan, senior vice president of real estate development at EAH Housing. “The City of Richmond and Richmond Housing Authority’s decision to transform a parking lot into 70 new apartment homes is a testament to their commitment to housing their most vulnerable populations.”
“After a rigorous process, we selected EAH Housing because of the quality of their services, strong commitment to health and the environment, and comprehensiveness of their offering – from renovation and new construction to property management and resident services,” said Tom Butt, mayor and chair of the Richmond Housing Authority Board. “EAH knows our community well and understands how to serve our residents.”
The renovation and new construction will be financed through public and private sources of equity and debt in a total estimated amount of approximately $98 million.
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 210 properties in 78 municipalities in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts.