As a leader in publically-subsidized senior housing, CCH has a large portfolio utilizing a variety of HUD programs including Section 202 Supportive Housing for the Elderly, to Section 236, HOME, HUD-insured loans, and Project Based Section 8 Rental Assistance. We have retained the deep affordability at aging properties while completing major rehabilitation. Additionally, we have successfully adapted to the regional funding environment by diversifying our portfolio of senior housing properties, Low-Income Housing Tax Credits, State Finance Agency programs, Affordable Housing Program Grants, and the tax exempt bonds.
CCH has a strong track record of layering multiple funding programs together for acquisition, rehabilitation, and new construction of sustainable, deeply affordable, service-rich senior housing in California and other states, including Texas and Colorado. CCH recently was awarded the prestigious MetLife Award for Excellence in Affordable Housing for its Sierra Meadows property. This LEED Gold development was chosen based on the combination of its design and the resident-focused services that CCH provides. To date, CCH has completed all projects on time and on budget.
CCH began its working relationship with HUD in 1962 when it applied for a HUD Section 202 loan to build Garfield Park Village in Santa Cruz, CA. Since that time, CCH has had an extensive relationship with HUD for both the development and management of HUD subsidized properties. Because we are an Oakland based organization working predominantly in Northern California, CCH has a strong working relationship with both the San Francisco Multifamily HUB staff, like Angela Corcoan, as well as Washington DC staff at the Office of Recapitalization.
CCH Development Overview
The Secretary of the Department of Housing and Urban Development has expressed its concern that literally hundreds of thousands of units of existing HUD subsidized housing build in the 1960s and 70s is at risk of losing its affordability as regulatory agreements attached to its loans begin to expire.
CCH Preservation Overview
CCH has a strong track record of layering multiple funding programs together to build new and rehabilitate existing affordable senior housing. The vast majority of our real estate development activity includes at least three difference funding sources. Most recently those include HUD, Low-Income Housing Tax Credits, and Tax-exempt bonds. In addition, CCH uses HOME program funds, State funds, seller financing, Affordable Housing Program funds and private philanthropy to balance capital budget shortfalls when HUD and LIHTC are not enough. CCH Housing Development, Property Management, Compliance and Accounting staff work closely together to ensure accurate compliance and reporting for all of the program funds and their corresponding agencies.
CCH Financing Overview
In January 2009, CCH made a formal commitment to environmental sustainability by launching the CCH Green Communities Initiative, a three-phased approach to transforming how we do business. The CCH Green Communities Initiative affects our four main areas of influence: Property Management, Housing Development, Social Services, and Corporate Administration. In addition to the Green Communities Initiative, CCH has Design Standards that address the accessibility, durability and sustainability performance standard of every project.
CCH Sustainability Overview
CCH fully supports the concept of “Aging in Place” which is the idea that a provider needs to provide not only housing, but services appropriate to each population served to address the root causes of homelessness in America.