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In this issue:
- Happy New Year!
- Construction Updates
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In the News: The Real Deal and San Diego Business Journal
- Meet our newest team members!
- Promotion
- Northern California Office Move
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Happy New Year!
Happy New Year!
As we begin the new year, we want to extend our sincere gratitude to our partners, investors, public agencies, and community stakeholders who make our work possible and to reflect on the progress we have achieved together in advancing affordable housing across California and beyond. In 2025, with your partnership and trust, we successfully financed and closed 750 affordable homes, strengthening communities and expanding access to stable, high-quality housing for individuals and families who need it most.
Looking ahead, our momentum continues, with more than 1,000 new, affordable homes expected to begin construction by the end of June 2026, further deepening our impact at a time when the housing affordability crisis remains one of the state’s most pressing challenges. Cumulatively, we are proud to have financed over $3.5 billion in affordable housing, capital that has translated directly into real homes, long-term affordability, and meaningful social outcomes.
What distinguishes our work—and what continues to drive our team—is our commitment to producing 100% affordable housing, ensuring that every development we support is purpose-built to serve low- and moderate-income households and to promote economic stability, equity, and opportunity. This mission is not just about numbers or transactions; it is about creating safe, dignified places to live, supporting workforce and family stability, and contributing to healthier, more resilient communities.
As we embark on 2026, we remain committed to collaboration, disciplined execution, and innovative financing solutions that can scale impact while maintaining long-term affordability. We are grateful for your continued partnership and confidence in our work, and we look forward to building on this shared progress in the year ahead as we continue to deliver housing that makes a lasting difference.
Cheers to you and to the new year!
President Jimmy Silverwood
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SkyLine
SkyLINE, Affirmed Housing's second development in partnership with SDMTS, has received a temporary certificate of occupancy (T.C.O.) and move-ins have started! The seven-story development with 100 apartment homes has begun resident move-ins, which will continue throughout the month. Congratulations to all our new residents, and thank you to everyone involved including, HA Builder, AO Architects, Fuscoe Engineering, San Diego Housing Commission, City of San Diego, Bank of America, and Citi Community Capital. , San Diego County, HCD, Lument, and NOVA engineering.
To view the SkyLINE website, click here.
| | | | *Senior Vice President Micah Spano, in front of the new building. | | | |
Symphony at Del Sur
Located in San Diego’s Del Sur community, Symphony at Del Sur offers 171, one-, two-, three-, and four-bedroom apartments for households earning between 30% and 80% of the local area median income
(AMI). Residents will be moving into their new homes throughout the month. Thank you to everyone involved, including HA Builder Group, DAHLIN Architecture Planning, PDC Architects, form/work Landscape Architecture, US Bank, Chase Bank, and Compass for Affordable Housing. , NOVA engineering, CAL HFA, and HP Investors.
To view the Symphony website, click here.
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The Real Deal
In a feature for examining why affordable housing can cost more than market-rate projects, Affirmed Housing President Jimmy Silverwood highlights how regulatory complexity, layered financing requirements and well-intentioned policies can drive up costs. He underscores the need for targeted reforms that address the true gap between affordable and market-rate development if meaningful housing project is to scale.
The Real Deal subscribers can read the full story in the December 2025 issue, click here.
San Diego Business Journal, 40 Next Top Business Leaders Under 40
In a San Diego Business Journal feature highlighting 2025 as a banner year for Affirmed Housing, Senior Vice President Micah Spano reflects on the company’s rapid growth, complex project execution and expanding development pipeline across San Diego County. Micah underscores how Affirmed Housing’s in-house construction model and hands-on approach enable our team to navigate challenging sites, deliver high-quality design and scale affordable housing production efficiently.
San Diego Business Journal Subscribers can read the full story here
| | New Affirmed Team Members | | |
Tiffany Finstad, Associate Director of Development
Tiffany focuses on building scalable systems and ensuring smooth project execution across our portfolio. She utilizes a strong process-driven approach, supported by more than a decade of experience in architecture, master-planned community development and business operations. She has a proven track record of guiding large-scale projects from land acquisition through closeout, launching new markets across California, Texas and Colorado.
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Martin Rubalcava, Project Manager
As Project Manager, Martin oversees new project development from inception to completion. His role involves comprehensive management, from planning and design to implementation, with a strong emphasis on securing funding and ensuring project feasibility. He leverages a background in construction finance and project development, with a commitment to sustainability and community engagement.
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Matthew Rudd, Asset Manager
Matt brings nearly a decade of experience managing multifamily portfolios across both market-rate and affordable housing, including Permanent Supportive Housing and LIHTC communities in Southern California. He has worked closely with property management teams, nonprofit partners and public agencies to improve property performance while supporting mission-driven outcomes. With a strong background in financial analysis, capital planning and portfolio strategy, Matt is excited to apply his experience to help ensure the long-term success and sustainability of Affirmed Housing's affordable housing communities.
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We are pleased to share the promotion of Sable Beltran to project manager! In this role, Sable will oversee new development projects from inception through completion, including entitlements, securing funding, property design, coordination with local government entities and the full range of activities required throughout the development lifecycle. Please join us in congratulating Sable on her promotion!
| | | Northern California Office Move | | |
On January 8th, our Northern California team relocated to a new office in Oakland, California. This new location supports the continued growth of Affirmed Housing’s Northern California operations. Currently, our Arcade and Monarch projects are under construction, and we will be starting a remodel at the Fairways in San Jose soon. We will also break ground on two more projects before year-end. Led by Senior Vice President of Nor Cal Development, Ali Gaylord, the team remains highly active, and the new Oakland office provides the space and resources needed to support our expanding portfolio and ongoing success.
The new office is located at: 426 17th St., Suite 400, Oakland, CA 94612.
| | Thank you for following along with Affirmed Housing’s progress. Stay tuned for more updates as we continue building strong, inclusive communities together. | | |
Interested in affordable housing? Click here to visit our website.
Let's Build Some Housing!
Southern California: jeff@affirmedhousing.com
Northern California: ali@affirmedhousing.com
Headquartered in San Diego, California, Affirmed Housing is dedicated to improving and sustaining the viability of California through the development of affordable housing. The company aims at enhancing communities and our environment by building dynamic, professionally-managed, high-quality, green multifamily housing.
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