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Housing

Inside the $1 Billion Bid to Rescue Affordable Housing

A new partnership between housing groups aims to give nonprofit developers the resources they need to preserve affordable apartments. 

Coggins Square Apartments (courtesy NAHT)

Coggins Square Apartments (courtesy NAHT)

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In normal times, the deal to rehab Coggins Square Apartments might have been a very minor victory for advocates of preserving affordable housing. But these are not normal times.

The nearly 20-year-old building — a modest transit-adjacent apartment building in Walnut Creek, California, just northeast of Oakland — is getting a $16 million facelift, and its developers will preserve its existing 86 units as affordable housing for residents making under 60% of area median household income, with some units set aside for tenants earning much less.