Preserving Affordable Housing: Ethos Real Estate & Bridge Investment Group Secure Walnut Creek’s Future
Ethos Real Estate partners with Bridge Investment Group to keep Walnut Creek Manor affordable with long-term rent limits and community support.
Bridge Investment Group and Ethos Real Estate have joined forces to maintain the affordability of Walnut Creek Manor, a 418-unit apartment community in Walnut Creek, California. Under their agreement, at least 75% of the naturally occurring affordable housing units will remain accessible to households earning at or below 80% of the Area Median Income (AMI) for a minimum of 55 years.
This commitment is reinforced by a Regulatory Agreement overseen by the Bay Area Housing Finance Agency, ensuring that rents for deed-restricted units do not exceed affordable limits for qualifying households. Additionally, the partnership includes Project Access, a nonprofit organization that will provide residents with senior social and recreational activities, as well as on-site health, education, and economic services.
Rachel Diller, Chief Investment Officer for Bridge’s Workforce & Affordable Housing strategy, highlighted the significance of the initiative, stating, “Bridge is proud to be a part of this innovative approach to keeping local residents in their homes. Our Workforce & Affordable Housing strategy seeks to be a catalyst for positive change, and we are excited to continue this work in partnership with Ethos Real Estate.”
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