February 2022
Affordable Homes, Sustainable Communities
Under a California Strategic Growth Council program that promotes dense, transit-oriented development and reduced housing-related carbon emissions, BRIDGE developments in Los Angeles, San Francisco, El Cerrito and Lancaster were awarded $95M for affordable housing and sustainable transportation infrastructure. The Affordable Housing and Sustainable Communities program is administered by SCG with the California Department of Housing and Community Development. (Rendering: Michael McCann)
Moving Forward in South L.A.
180 affordable and permanent supportive housing apartments, a transit plaza and grocery-anchored retail are in the works for a site that's been vacant since the 1992 uprising in the wake of the Rodney King verdict. The Los Angeles County Board of Supervisors unanimously approved $72.4 million in bond financing for Vermont-Manchester, which is being developed by BRIDGE, the Coalition for Responsible Community Development and Primestor Development. (Rendering: TCA Architects)
Salesforce.com Foundation Supports Resilience, Equitable Access
The Salesforce.com Foundation awarded BRIDGE a significant grant to strengthen housing stability, equitable access to digital learning resources, and health and resilience for thousands of low-income, majority BIPOC (Black, Indigenous and People of Color) families and students. Rebecca Ferguson, Vice President of Philanthropy at Salesforce, said: “It has never been more important for corporate leaders to address community challenges such as homelessness and economic instability.”
BRIDGE Names New EVP and Chief of Staff
In January, BRIDGE welcomed Thuong Luong onboard as Executive Vice President and Chief of Staff, a newly created role. Prior to joining BRIDGE, she was the Chief Investment Officer of Gehr Hospitality, where she oversaw the firm’s hotel portfolio with a focus on expansion and led the sourcing, acquisition, financing and asset management of existing and future investments. “Her depth of experience and business acumen will add tremendous value and help us advance strategies to take BRIDGE to the next level,” said Ken Lombard, BRIDGE President & CEO.
A+ Credit Rating
Standard & Poor’s Ratings Services has reaffirmed BRIDGE Housing's “A+” issuer credit rating, citing a “very strong enterprise risk profile” and “extremely strong management and a strategic plan that supports its mission to provide quality low-income housing in the least affordable markets.” Standard & Poor’s is a leading provider of independent credit risk research and benchmarks.