The Foundation for Affordable Housing has leveraged its 30 years of experience to form partnerships with many leading affordable housing developers to build and operate homes for low-income families, seniors, and special-needs households.

Deborrah Willard, co-founder, Foundation for Affordable Housing
With Life In Mind Photography Deborrah Willard, co-founder, Foundation for Affordable Housing

The growing Laguna Beach, Calif.–based nonprofit has partnered in the development of over 200 properties nationally. To date, it has ownership interest in over 178 affordable housing developments with approximately 19,000 units in 13 states. In 2018 alone, it closed 14 joint-venture transactions representing about 2,700 units.

“Creating value for all stakeholders is one of our primary goals, which we accomplish through nurturing long-term relationships and establishing great new alliances with top-notch players,” says Deborrah Willard, who co-founded the firm with her husband, Tom. “This formula has allowed us to evolve into a multifaceted real estate player in the affordable housing space.”

One joint-venture partner is Irvine-based Community Preservation Partners. The team is working on an extensive rehab of the 700-unit El Rancho Verde Apartments in San Jose that is financed through a low-income housing tax credit resyndication.

In February, the nonprofit and partner Irvine-based Related California celebrated the grand opening of Citrea Apartments in downtown Fullerton. The development includes 55 affordable homes for low-income families and offers an array of supportive services.

“Knowing that more than 60,000 people sleep under our roofs each night is by far the most rewarding part of our involvement in the affordable housing industry,” adds Willard. “Housing insecurity takes a terrible toll on individuals and families. Being able to alleviate this pressure in some small way is the reward for our years of hard work and focus.”