BRIDGE, East LA Community Corporation and the Los Angeles County Metropolitan Transportation Authority broke ground this month on Los Lirios, 64 affordable apartments in the Boyle Heights neighborhood. Top photo, from left: ELACC President & CEO Monica Mejia, Metro Board Chair and LA County Supervisor Hilda L. Solis, Metro Senior Executive Officer Holly Rockwell and BRIDGE President & CEO Ken Lombard.

Casa Sueños Rises in Oakland

Located at the Fruitvale Transit Village, Casa Sueños will provide 181 affordable homes for families, including 46 permanent supportive housing apartments for people who have experienced homelessness. Casa Sueños is a co-development by BRIDGE and The Unity Council. Photo by general contractor J.H. Fitzmaurice.

BRIDGE and CPC Mortgage Company announced $19.4 million in financing to refinance and preserve Magnolia Plaza in South San Francisco, which provides 125 affordable homes for seniors with low incomes. “It makes all the difference in the world for seniors to have stable, affordable homes,” said Ken Lombard, President & CEO of BRIDGE. “We’re grateful for this partnership, which will help us preserve and enhance Magnolia Plaza’s affordability for the long term.”

A new report from BRIDGE illustrates that scholarships for affordable housing residents can have far-reaching social and economic impacts, including income growth and fewer student loans. The report marks the 20th anniversary of the Alan and Ruth Stein Educational Assistance Program, which supports BRIDGE residents with scholarships to pursue their educational and career aspirations. During the 2001-2021 funding cycles, BRIDGE awarded more than $2 million in Stein scholarships to 376 residents ranging in age from 16 to 70 years old; more than 75% of awardees were people of color.

And save the date for BRIDGE’s 4th Annual Stein & Colwell Scholarships Celebration on October 13, 2022 at 6pm! We’re looking forward to celebrating our scholarship recipients and generous donors. Make a gift today to support our work to promote advancement and opportunity through education.

Katherine Fleming (third from right), BRIDGE Senior Vice President of Portfolio, presented portfolio investment and preservation strategies at the recent Consortium for Housing and Asset Management conference in San Diego, on a panel with industry leaders from Morgan Stanley, Mercy Housing and CDT.

This month, BRIDGE was honored to receive PCBC Gold Nugget Awards of Merit for two properties in San Francisco: La Fénix at 1950 (left), 157 affordable homes for families co-developed with Mission Housing Development Corporation and designed by David Baker Architects and Cervantes Design Associates; and 735 Davis (right), 53 homes for seniors co-developed with The John Stewart Company and designed by Leddy Maytum Stacy Architects. Congratulations to all of this year’s honorees! Photos by Bruce Damonte.