Community HousingWorks ranks 33rd on AHF’s list of Top 50 Affordable Housing Developers
San Diego (May 3, 2017) – Community HousingWorks has been named one of Affordable Housing Finance magazine’s Top 50 Affordable Housing Developers, coming in 33rd overall and 6th among non-profit developers.
Rankings are based on the number of new affordable housing units that developers started construction on in 2016.
In 2016, Community HousingWorks began construction on 306 affordable apartments, including two senior housing communities, and completed 109. The nonprofit housing developer plans to complete an additional 2,000 units by 2020, bringing the number of residents served in San Diego and across California to roughly 15,000.
“There’s little doubt that affordable housing faces an uphill battle,” said Anne Wilson, CHW’s senior vice president of housing and real estate. “But as both the housing crisis and homelessness continue to worsen, we feel like it’s more important than ever for us to develop affordable apartments and provide a platform to help our residents move beyond affordable housing and discover personal success.”
Between the 53 companies that made AHF’s list this year (three ties account for the additional companies), construction began on 25,630 affordable housing units across the country, up from 17,653 the year before. Despite the increase in units, 70 percent of developers expect financing conditions for affordable housing to worsen before the year is over, according to a survey conducted by AHF this past January. The survey also revealed that the majority of affordable housing developers—68 percent to be exact—consider the election the most significant industry event that happened in 2016.
Media contact: Tony Manolatos
About Community HousingWorks
Community HousingWorks (CHW) is a nationally-recognized non-profit organization that helps people living on low wages and fixed incomes move up in the world, in San Diego and across California, by building and owning stable affordable apartment homes and providing onsite services and opportunities for residents to achieve their dreams. CHW has nearly 30 years of success developing new and renovating existing multi-family, affordable rental apartments in urban, suburban and rural communities. With nearly 3,000 rental apartments in 36 communities statewide, CHW proudly serves more than 8,000 children and adults each year. CHW and our strategic partners deliver onsite programs to give residents the knowledge, tools, and hope to achieve their goals and dreams. As a result, many adult residents are able to get out of debt, improve their credit, and start a practice of saving for the future; and youth have a safe place to learn and grow, improve reading ability, and succeed at school. CHW is an Exemplary-ranked member of the national NeighborWorks Network®, an award-winning affiliate of the National Council of La Raza, and member of the prestigious Housing Partnership Network.