BLDG invests in essential and workforce housing to address the gap in middle-income housing.
Middle-income households are comprised of the backbone of our workforce. These families earn too much to qualify for low-income affordable housing based on Area Median Income (AMI) thresholds but struggle to afford market rate rents.
Missing middle housing fills the critical gap between subsidized affordable housing and market rate inventory. Historically, this housing was largely comprised of duplexes and fourplexes in close-in urban locations. While demographic demand for this type of housing has remained strong, these types of homes have become increasingly short in supply.
Middle Income Housings investments are made through public / private partnerships that are focused on ensuring the preservation and long-term affordability of existing multi-family communities in close proximity to employment centers. To bring these projects into service, BLDG works in partnership with forward-thinking municipalities and the California Municipal Finance Authority (CMFA), a Joint Powers Authority.
We apply a systematic approach to asset management in order to deliver a quality experience for residents and to provide transparent financial reporting for our public sector partners. These public / private partnerships ensure the long-term affordability of quality housing for the “missing middle” segment and result in meaningful reductions in rent for in-place tenants.
BLDG invests in long-term strategies to improve the resident experience:
We employ best-in-market managers to ensure high standards for property maintenance and operations. Paired with well-allocated capital improvements, we can improve resident satisfaction which translates to full occupancy and reduced operating expenses.
average rent reduction for tenants in middle income projects
of tenants eligible for rent reductions in middle income projects
average monthly rent reduction for tenants in 2 bedroom apartments in middle market projects
The Enclave is a well-amenitized 306-unit community located in the City of Paramount, in the heart of Southern California. The property is located close to transit, freeways, retail amenities and employment centers. The community features two fitness centers, a resort-style pool, playground, business center, and lushly landscaped walking paths. Funds have been set aside at acquisition to upgrade building common areas and unit interiors to ensure a best-in-class experience for tenants.
Acquired in a public / private partnership with the California Municipal Finance Agency (CMFA) and the City of Paramount, BLDG was able to implement a program of rent reductions for income-qualified households. The transformation of this market-rate community into middle-market housing ensures the long-term affordability of housing for essential workers in close proximity to major employment centers and reduces the housing cost burden for these families.
Middle Income, Tax Exempt
Allure is a resort-style community in the City of Orange, in the heart of Orange County. Close to numerous employment centers, the 282-unit complex is located within one of the most job-rich areas in California. The property features a pool, fitness center, business center and clubhouse.
Acquired in a public / private partnership with the California Municipal Finance Agency (CMFA) and the City of Orange, BLDG was able to implement a program of rent reductions for income-qualified households. The transformation of this market-rate community into middle-market housing ensures the long-term affordability of housing for essential workers in close proximity to major employment centers and reduces the housing cost burden for these families.
Middle Income, Tax Exempt