Consistency is one of the hallmarks of USA Properties Fund.
Founded in 1981 and headquartered in Roseville, Calif., the firm has steadily produced affordable housing across the West. In 2015, the company started two new developments with 266 affordable housing units; this year, it plans to start construction on another two projects, which will feature 275 homes.
Geoff Brown, the firm’s president and CEO, attributes the steady pace to having a veteran team that’s worked together for years, as well as being fully integrated with finance, acquisition, development, construction, and property management capabilities.
Last year, USA Properties surpassed 11,000 units in its portfolio for the first time. The company also began its first market-rate development, The Landing at College Square, a 270-unit community in Sacramento, Calif.
“There haven’t been a lot of new market-rate projects, especially in the downtown area, built over the last 10 years,” Brown says. “We feel there’s a real need there.”
The firm also continues to be busy on the affordable housing side. In partnership with the Foundation for Affordable Housing, it’s building Vintage Aliso, a 202-unit senior housing community in Aliso Viejo in Southern California.
USA, which works closely with LifeSTEPS, a social services provider, has raised more than $500,000 in the past five years for its JB Brown Fund, which provides residents with college scholarships and opportunities to participate in youth sports and seniors programs.