Bridge Investment Group and Ethos Real Estate have reached a deal to keep hundreds of apartment units at Walnut Creek Manor affordable for the residents in the community. Residents in the 418-unit property are now assured that their homes will remain affordable due to the acquisition of the apartment complex by a partnership between Bridge and Ethos. Under the agreement, at least 75% of these naturally occurring affordable housing units are slated to remain long-term affordable units for at least 55 years.

The Regulatory Agreement administered by the Bay Area Housing Finance Agency requires that rents oneed-restricted units (at least 75% of the property) do not exceed the affordable threshold for households with outcomes at or below 80% of Area Median Income (AMI). In addition, the partnership includes a non-profit social services partner, Project Access, which will provide senior social and recreational activities as well as on-site health, education, and economic services for residents. County Supervisor Ken Carlson called the agreement a model for Walnut Creek, Contra Costa County and beyond.

Residents of Walnut Creek Manor will join with affordable housing advocates, county leaders, and representatives of Ethos, Project Access, and Bridge Investment Group to celebrate the agreement at the apartment community on July 26th at 10:00 A.M.