Author: Ron Trujillo

Community leaders, residents celebrate the opening of College Creek in Santa Rosa

Public-private partnership made 164-apartment community possible

More than 50 community leaders, company executives and residents celebrated the grand opening Sept. 26 of College Creek, an affordable apartment community in Santa Rosa.

“I get my own space that I can afford … and I don’t have to stress every day about the rent, and that means everything,” said resident Maranda Maybee, a single parent who was living with her mother before moving into a three-bedroom apartment in August. “The property is beautiful. Nothing is as nice as this.”

College Creek – located at 2156 W. College Ave., just west of Highway 101 and north of Highway 12 – is possible thanks to a public-private partnership between USA Properties Fund, Sonoma County Community Development Commission, California Housing Finance Agency (CalHFA) and Bank of America.

The 164-apartment community is near the Santa Rosa Creek Trail and Finley Community Park, which offers sports courts, walking trails and a swimming pool. The apartment community is next to the Westside Transit Center, served by numerous bus routes that provide connections to the Downtown SMART station.

College Creek

“What you have all done here is phenomenal,” said Sonoma County Supervisor Lynda Hopkins during the 90-minute celebration for College Creek. “You have far exceeded our expectations.”

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Sonoma County Supervisor Lynda Hopkins
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Dozens of people toured a one-bedroom apartment at College Creek
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Geoff Brown, President of USA Properties Fund
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About 50 people attended the grand opening of College Creek in Santa Rosa

All photos by Darryl Bush

‘An exemplary … inclusive, integrated project’

College Creek provides housing in a region where almost half of renters spend at least 30% of their income on rent – and finding housing also remains a challenge after the devastating Tubbs fire in October 2017, the second-most destructive fire in California history.

“I know the firsthand impact on the community from the wildfires,” said Santa Rosa native and longtime resident Jason Foster, President of Napa, Sonoma and Marin counties for Bank of America. “It takes a village to make a project like this become a reality.”

It also demands a lot of hard work and much patience. College Creek took several years, between acquiring the property to the grand opening. 

But changing lives and the comments from residents like Maybee are a “reminder for all of us when we get frustrated why we are doing this,” said Geoff Brown, President of USA Properties Fund. Affordable housing communities are a “conduit to so many things, like education and health care. It’s worth the effort.”

Learn more about College Creek, including the amenities and income limits

College Creek is substantially more affordable than nearby market-rate units in Santa Rosa – and available to more residents at a wider range of income levels thanks to CalHFA’s Mixed-Income Program. Under the program, residents earning 30% to 70% of the area’s median income – about $37,350 to $87,150 for a three-person household – could qualify for College Creek.

The apartment community is affordable but also has a long list of amenities, including a community room with a kitchen and computer workstations; a fitness room; a swimming pool; on-site laundry facilities; and a tot-lot. College Creek offers one- two- and three-bedroom apartments, a hard-to-find size in rental housing.

“This is an exemplary project,” said Anamaria Avila Farias, a CalHFA Board Member. “It’s an inclusive, integrated project.”

And now home to hundreds of residents, from hardworking single mothers like Maybee to seniors living on a fixed income.

With the completion of College Creek, USA Properties Fund has seven affordable apartment communities in Santa Rosa – and 10 in Sonoma County. 

“This community has been very good for us,” Brown said. “This is a wonderful place to live and develop.”

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USA Properties opens seventh affordable apartment community in Santa Rosa with College Creek

164-apartment community is near Finley Community Park, Westside Transit Center and Santa Rosa Creek Trail

USA Properties Fund, one of the fastest-growing and leading affordable developer-manager-owners in the West, has completed College Creek, an apartment community that offers much-needed housing for residents that earn a wide range of income levels in Santa Rosa.

College Creek – located at 2156 W. College Ave., just west of Highway 101 and north of Highway 12 – is available for early-in-their career professionals, hardworking families saving for a home or even retirees living on a fixed income. 

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College Creek offers numerous amenities, including a community room, pool and fitness center. Photos by Darryl Bush

A public-private partnership made the 164-apartment community possible and provides housing in a region where almost half of renters spend at least 30% of their income on rent – and finding housing also remains a challenge after the devastating Tubbs fire in October 2017, the second-most destructive fire in California history.

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USA Properties Fund President Geoff Brown during the grand opening of College Creek

“College Creek is an excellent example of how developers, public agencies and private partners can work together to create more affordable housing,” said Geoff Brown, President of USA Properties Fund. “It has taken a lot of hard work over several years, but we were all committed to making sure this project became a reality.”

‘Such a connected location’

USA Properties Fund acquired the 7.4-acre site from the Sonoma County Community Development Commission, one of the partners on the project along with Bank of America and the California Housing Finance Agency (CalHFA).

College Creek is close to downtown Santa Rosa – with its many restaurants and shops – large shopping centers, health care providers and several schools, including Piner High School and Santa Rosa Junior College. 

The $79.5 million apartment community is also near the Santa Rosa Creek Trail and Finley Community Park, which offers sports courts, walking trails and a swimming pool. The apartment community is next to the Westside Transit Center, served by numerous bus routes that provide connections to the Downtown SMART station.

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Sonoma County Supervisor Lynda Hopkins at the ribbon-cutting celebration for College Creek

“It has been such a pleasure to watch this affordable housing development rise-up in such a connected location, and it’s so exciting to know that families are already building lives there on county surplus land, the former location of our water agency,” said Sonoma County Supervisor Lynda Hopkins, who represents the 5th district where College Creek is located. “The County of Sonoma and its Community Development Commission are pleased to help finance housing that is affordable to area workers, and where all community members have equal and fair access to housing options near transit, jobs, recreation, and services in a vital economy.”

College Creek is substantially more affordable than nearby market-rate units in Santa Rosa – and available to more residents at a wider range of income levels thanks to CalHFA’s Mixed-Income Program. Under the program, residents earning 30% to 70% of the area’s median income – about $37,350 to $87,150 for a three-person household – could qualify for College Creek.

“We are thrilled to work with USA Properties to help finance the College Creek development,” said CalHFA Executive Director Tiena Johnson Hall. “This partnership, with such incredible local government support from Sonoma County, is a great model as our state continues to produce affordable housing for struggling families at a variety of income levels.”

Affordable with a long list of amenities

And for households of various sizes, with one-, two- and three-bedroom units. Rents for a one-bedroom apartment range from $723 to $1,761, based on household income, while rents for a three-bedroom home are from $973 to $2,412.

“The new College Creek community brings much-needed affordable housing to help address the rising cost of living that has contributed to the region’s labor challenges,” said Jason Foster, Bank of America North Bay President. “Bank of America provided a construction loan and equity to our longtime partner USA Properties for this service-rich development. Along with Sonoma County and the State of California, College Creek is a great example of public-private partnership in action.”

The apartment community is affordable but also has a long list of amenities, some found only at market-rate properties. College Creek – a four-story building and two three-story buildings – includes a community room with a kitchen and computer workstations; a fitness room; a swimming pool; on-site laundry facilities; and a tot-lot.

The apartments feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets. 

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College Creek recently held an open house that included tours of the apartments.

With the completion of College Creek, USA Properties Fund has seven affordable apartment communities in Santa Rosa – and 10 in Sonoma County. The county figure includes Adega, a market-rate apartment community in Rohnert Park with several units available for lower-income residents.

“We’ve been working with the City of Santa Rosa and Sonoma County for many years, and we all want to ensure affordable, quality, safe housing for residents,” Brown said. “College Creek is the latest example of our ongoing efforts.”

USA Properties, Riverside Charitable start construction on The Orion in Orange

A public-private partnership makes the 166-apartment community for seniors possible.

USA Properties Fund and Riverside Charitable Corporation have started construction on The Orion, an affordable apartment community in Orange that will provide much-needed housing for low-income seniors in one of the most expensive markets in the nation.

The Orion – located at 1800 E. La Veta Avenue, near the interchange of Freeways 55 and 22 – is a high-profile infill project that will “convert a blighted property into something architecturally beautiful and provide 166 additional affordable units for seniors,” said Orange Mayor Dan Slater. “It’s a win-win.”

The Orion is close to several shopping centers, numerous health care providers and adjacent to public transit, including bus service and connections to light-rail service throughout the region. The Orion is also near community and regional parks, and a short drive to Newport Beach, Laguna Beach and Disneyland.

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Rendering by Architects Orange

Construction on the 166-apartment community, which includes eight permanent supportive housing units for residents faced with housing insecurity, should be completed in early 2026.

The Orion – available to seniors at least 55 years old who meet income requirements – will feature a long list of amenities, including a clubroom, a fitness area, a dog park and an on-site senior services center for residents.

About 75 people attended a groundbreaking celebration July 29 for The Orion.  

Rather than the traditional groundbreaking with shovels, sledgehammers were used to celebrate the start of construction and the demolition of the former Rehabilitation Institute of Southern California structure on the property.

Community leaders and company officials at the groundbreaking celebration detailed the importance of the project in a region where 80% of extremely low-income seniors spend at least half of their income on rent, according to the California Housing Partnership.

The Orion
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“Finding affordable housing has become a major challenge in California, where there is a critical shortage and tremendous competition for available apartments for low-income seniors,” said Geoff Brown, President of USA Properties Fund. “The Orion is an excellent example of far-reaching community support and partners working together to help ease the housing – and financial – burden that so many seniors face.”

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Swings are a big hit at the groundbreaking celebration
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About 75 people attended the groundbreaking celebration July 29
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Riverside Charitable’s Recinda Shafer and Ken Robertson share the importance of The Orion
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The Orion is possible thanks to a public-private partnership between several organizations
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A swing and a strike by USA Properties’ Darren Bobrowsky
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Double duo of Recinda Shafer and Ken Robertson of Riverside Charitable
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USA Properties’ Jatin Malhotra takes his swings from the left side

Photos by Samer Alam

‘We got a lot of people involved’

The Orion is moving forward after several years of planning thanks to a major public-private partnership that includes the City of Orange, County of Orange, Orange County Housing Finance Trust, Orange County Health Care Agency, Bank of America, Citibank and Safehold.

“The Orion is an example of what’s possible when public and private entities collaborate to provide safe and affordable housing for seniors,” said Ken Robertson, Board President of Riverside Charitable Corporation in nearby Tustin. “The City and County of Orange are outpacing most of California in building affordable housing because we have nonprofits and civic-minded partners.”

The Orion faced “a lot of challenges,” including higher interest rates that have increased borrowing costs in recent years, but the partners have come together to make the project possible and provide much-needed housing for seniors, said Jatin Malhotra, Vice President of Acquisitions for USA Properties Fund.

“Everybody was really motivated to make this project happen,” Malhotra said. “We got a lot of people involved.”

The City of Orange, County of Orange and Orange County Housing Finance Trust provided financial support for The Orion. The California Tax Credit Allocation Committee (also known as TCAC) awarded highly competitive bond funding for the development, saving the state –and taxpayers – several million dollars. Bank of America offered favorable terms as the construction and tax credit equity lender on the project. And Citibank did the same as the permanent lender.

“All seniors deserve safe, affordable housing that allows them to securely age in place with dignity and community,” said Allen Staff, President for Bank of America Orange County. “The Orion will provide that to its senior residents regardless of their income level. Bank of America is proud to provide construction debt and tax credit equity investments to support USA Properties’ development of this high-quality, services-rich affordable housing in partnership with the City of Orange and Orange County.”

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Orange Mayor Dan Slater

The Orion will “convert a blighted property into something architecturally beautiful and provide 166 additional affordable units for seniors. It’s a win-win.”

Orange Mayor Dan Slater

The Orion was also approved for a density housing bonus, significantly increasing the number of housing units allowed per acre helps make the $64 million project financially feasible.

“That’s very efficient, almost unheard of in Orange County,” Malhotra said of the $385,500 cost per unit.

The Orion will be affordable but also offer a long list of amenities. In addition to the clubroom, dog park and fitness center, the apartment community will feature computer workstations; a community garden with some elevated planters; a courtyard and shaded patio; and secure parking. Residents will also have access to LifeSTEPS, a social services provider at many of USA Properties-managed affordable communities.

“Projects like The Orion don’t just provide a roof over seniors’ heads, they also offer a social services-enriched community,” said Robertson of Riverside Charitable.

Amenities-rich affordable housing

The Orion will offer one- and two-bedroom apartments with energy-efficient appliances, lighting insulation and windows; and low-flow faucets, showers and toilets. Some apartments will include a balcony.

The Orion is available to seniors who earn 30% to 70% of the area median income for Orange County, about $37,860 to $88,340 for a two-person household. Income requirements will likely change slightly before the apartment community is completed.

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Rendering by Architects Orange

Rents at The Orion will range from $806 to $1,990 for a one-bedroom apartment, and $965 to $2,376 for a two-bedroom unit, based on the income of residents. The rents are at least several hundred dollars less than comparable-sized market-rate properties in Orange, according to Rent.com and Zillow.

USA Properties Fund will manage The Orion, which will have three- and four-story buildings. The Orion will have a contemporary, urban design.

“We are very excited to establish a relationship with the USA Properties team, and look forward to a successful project,” said Steve Wylder, Executive Vice President and Head of Investments for Safehold. Publicly traded Safehold Inc. (NYSE: SAFE), based in New York City, is the leaseholder of the 3.85-acre property. “We are thrilled to play a role in creating much-needed affordable housing with this high-quality development.”

USA Properties Fund is one of the fastest-growing and largest affordable community developer-manager-owners with 90 properties in the West, including 32 in Southern California. The company has five apartment communities in Orange County. The Orion is the company’s first in The City of Orange.

“It’s a great project to showcase our abilities,” Malhotra said.

Community leaders say Terracina at Winding Creek will ‘change lives’ at groundbreaking celebration

An affordable apartment community under construction near highly rated schools and new parks in Roseville will provide much-needed housing and help build the foundation for residents to “succeed and excel.”

About 50 community members, including elected leaders and local officials, celebrated the groundbreaking on April 30 of Terracina at Winding Creek, an affordable apartment community in the new Creekview neighborhood of west Roseville.

Terracina at Winding Creek will have a north and south site – located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive – and should be completed in early 2026.

Terracina at Winding Creek will create far-reaching benefits for lower-income residents – and for the fast-growing region, speakers said during the groundbreaking celebration.

“It’s like planting seeds,” USA Properties President Geoff Brown said. “Affordable housing is such a conduit to addressing other social challenges. We are trying to house people and change lives.”

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Geoff Brown, President of USA Properties Fund
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Just some of the people who have worked on the project
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Marina Wiant, Executive Director of CDLAC and TCAC

‘Work and live in the community’

The 284-apartment community will allow lower-income residents – including professionals early in their careers and hard-working families – to “work and live in the community,” said Roseville Mayor Bruce Houdesheldt.

Terracina at Winding Creek will “lift up the lives of people who will start here and be a part of our community for a long time,” Houdesheldt said. “We want housing options for everyone in our community.”

The apartment community is available to households that earn 30% to 70% of the area’s median income, currently $81,110 for a five-person household. The income limit will likely increase when Terracina at Winding Creek starts leasing.

Terracina at Winding Creek ensures lower-income residents have access to affordable, quality housing, first-rate health providers, highly rated schools and good-paying jobs in one of the state’s strongest economic regions.

“These are hardworking people with jobs,” said California Assemblymember Joe Patterson, who represents the district. “The residents really take ownership.”

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Want more info on Terracina at Winding Creek?

Check out the location, amenities, current income limits and rent ranges (they will change slightly before opening in early 2026).

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‘A big step forward’

Affordable apartment communities such as Terracina at Winding Creek provide a “big step forward” in helping improve the lives of lower-income residents, who often spend too much of their hard-earned money on housing and live with much uncertainty, said Will Cooper Jr., Chairman and CEO of WNC and Associates. The company is the tax credit investor for the $119.2 million Terracina at Winding Creek project.  

Terracina at Winding Creek will provide residents with computer access, a fitness room, and health and wellness classes.

Terracina at Winding Creek is part of Anthem Properties’ Creekview Master Plan that includes housing, commercial development, a school and neighborhood parks in west Roseville. Anthem Properties donated the land for Terracina at Winding Creek.

“This project is an amazing example of meeting the state’s housing goals,” said Marina Wiant, Executive Director of the California Debt Limit Allocation Committee and the California Tax Credit Allocation Committee. “We want to break the cycle (of poverty). We want families to succeed and excel.”

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Photos by Terri Olson of Image Outfitters Photography

USA starts leasing Virginia Street Studios, an affordable apartment community in the heart of San Jose

301-studio community includes a rooftop deck, fitness center and a courtyard with barbecues

USA Properties Fund has started leasing Virginia Street Studios, an affordable apartment community for low-income residents seeking an active and maintenance-free lifestyle but also want a long list of amenities, including a community room and a rooftop deck with mountain views, in the heart of San Jose.

The 301-apartment community – located at 255 E. Virginia Street, at the intersection of Seventh Street – is just a few blocks from the center of downtown and close to several neighborhood markets, dozens of restaurants, San Jose State University and a Walmart Supercenter. Virginia Street Studios is also a block from Interstate 280 and close to public transportation.

“It’s got that downtown feel,” said Ana Gowdey, Regional Manager for USA Properties Fund, the property manager and an investor-partner in Virginia Street Studios with The Pacific Companies and Autovol. “It’s really a great environment.”

The all-studio community will accommodate early-in-their-career professionals – such as government employees and school teachers – to empty-nesters and retirees living on a fixed income looking for lower-cost housing, less maintenance and more leisure time.

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OPEN HOUSE

Virginia Street Studios will hold an open house 9-4 p.m. Friday (April 26) and Saturday (April 27).

“San Jose is seeing the critical need for affordable housing as we see large swaths of our communities being displaced due to the high cost of rent,” said San Jose City Councilmember Omar Torres, who represents District 3 which includes Virginia Street Studios. “Virginia Street Studios will allow over 300 residents to stay in the city they call home and remain part of our city fabric.”

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Studios include air conditioning, ceiling fans, energy-efficient appliances — including a full-size refrigerator — vinyl plank flooring, and either a balcony or patio, depending on the floor.

Affordable but with a wealth of amenities

Indeed, almost half of renters spend at least 30% of their income on housing in San Jose, and the figure is much higher for lower-income residents, according to the latest Joint Center for Housing Studies of Harvard University report.

Residents who earn 50% to 60% of the area median income for Santa Clara County – between $62,450 and $74,940 for a single person to $71,400 and $85,680 for a two-person household – are eligible for Virginia Street Studios. 

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A rooftop deck allows residents to enjoy the cool evenings and the views of the nearby mountains.

The studios rent for $1,567 to $1,890 per month, depending on household income, hundreds of dollars less than nearby market-rate studios, according to industry tracker Zumper.  

The dog-friendly apartment community is affordable but also comes with an impressive list of amenities, including many often not found in market-rate properties.

Virginia Street Studios features a community room with a large kitchen, a fitness room, a second-floor courtyard with barbecues and tables, and a seventh-floor rooftop deck with seating areas. The apartment community also includes a lounge and computer room on the third floor and a fourth-floor game room with chess tables, a pool table and board games.

Residents will enjoy on-site laundry facilities on each floor, multiple elevators, controlled access for security, a bike room with bike racks, and 120 assigned parking spaces are available in a parking garage on a first-come, first-served basis for those with vehicles.

The studios feature air conditioning, ceiling fans, energy-efficient appliances – including a full-size refrigerator – vinyl plank flooring, and either a balcony or patio.

“It’s getting a lot of attention, especially from the younger generation,” Gowdey said of the apartment community in the center of Silicon Valley. “It’s centrally located whether you want to enjoy the neighborhood or the entire Bay Area.”

Community leaders and residents celebrate the opening of The Canopy Apartments in Portland

Public-private partnership made
169-apartment community possible

Several dozen community leaders, company officials and residents celebrated the grand opening April 5 of The Canopy Apartments at Powell, a much-needed apartment community in east Portland.

“This is the best place I’ve ever lived,” said resident Jessie Love, who recently lived in a Tiny Home Village and experienced homelessness for almost a decade before moving to The Canopy Apartment at Powell with his pet rabbit, Mamas. “This is an opportunity for change, for a better life.”

The Canopy Apartments at Powell – located at 12475 SE Powell Blvd., about 12 miles east of downtown Portland – was possible through a public-private partnership between USA Properties Fund, Northwest Housing Alternatives, and Oregon Housing and Community Services.

The Canopy Apartments at Powell has easy access for Love and other residents to public transportation, schools and several shopping centers in east Portland.

The 169-apartment community, available to residents who meet income requirements, features a long list of amenities, including a bike room, an after-school program for children a few days a week, a courtyard with a tot lot, a dog wash and a donation pantry, allowing residents to share food resources.

The $63 million development is the first of two apartment communities in Oregon for USA Properties Fund.

Far-reaching and forward-looking efforts to address the critical shortage of affordable housing, including through legislation and local bond measures passed by voters in recent years, attracted USA Properties to Oregon.

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The Canopy Apartments at Powell

“The Canopy Apartments at Powell is an excellent project to enter the Portland market and introduce our company to Oregon,” said USA Properties President Geoff Brown, who knows the region well, earning a bachelor’s degree in Economics from Willamette University in Salem. “We greatly appreciate the relationships we have developed and enjoy working with Northwest Housing and OHCS. They are partners who understand affordable housing and the importance of providing housing for lower-income residents.”

USA Properties Fund and Northwest Housing Alternatives are also partners on Terracina Vista, an affordable apartment community under construction in nearby Gresham.

“Canopy Apartments offers wonderful affordable housing opportunities,” said Trell Anderson, Executive Director of Northwest Housing Alternatives. “We are grateful for the partnership with USA Properties Fund and OHCS. We know stable affordable housing like this gives kids who live here a better opportunity to succeed in education and we look forward to supporting them and their families with an after-school program.”

The public-private partnership, including $15.2 million from OHCS’ Local Innovation and Fast Track (LIFT) Housing Program, was critical in paving the way for The Canopy Apartments at Powell.

“This investment aims to create more affordable housing while also fostering connections within communities,” said OHCS Director Andrea Bell. “The truth is clear: when people have access to opportunities, it leads to greater social and economic mobility and prosperity. Today, we are taking actions toward that goal. This city has seen powerful examples of why this is so important, and The Canopy at Powell Apartments once again highlights the strong link between housing and justice.”  

The Portland Housing Bureau also had a leading role in making Canopy Apartments possible, waiving millions of dollars in development fees.

WNC & Associates and JP Morgan Chase are financial partners on the project. WALSH Construction Co. was the general contractor.

“WNC is proud to serve as a financial partner for The Canopy Apartments at Powell,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. “The Portland market is long overdue for an increase in affordable housing investment. We are pleased to continue expanding our footprint in Oregon and providing affordable housing for many years to come.”

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Smaller rents and three-bedroom apartments 

The Canopy Apartments at Powell will provide more affordable housing for Portland-area residents, where half of households that rent are cost-burdened, spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University. One of four renters spend more than 50% of their income on housing.

“We’re proud to have played a role in the development of the Canopy Apartments at Powell, which will bring much-needed affordable housing to individuals and families in Portland,” said Bob Powers, Managing Director of Chase Community Development Banking. “These high-quality, sustainable units will be an indispensable asset for the community, increasing the local stock of affordable housing and helping improve the lives of the residents who will call it home.”

The recently opened apartment community is for residents earning less than 60% of the area’s median income – about $54,180 for a two-person household or $73,140 for a family of five. Rents range from about $1,224 for a one-bedroom apartment to $1,680 for a three-bedroom unit.

Those rents are significantly less than nearby market-rate apartments in the Portland region, according to multiple rental sites.

About half of the apartments are three-bedroom units at Canopy Apartments at Powell, meeting the need for larger living spaces for families.

Amenities include elevators, laundry facilities on each floor, and on-site parking. Apartments can also accommodate tenant-owned air conditioning units, if necessary.

Apartments feature electric heating; laminate flooring; energy-efficient appliances, lighting insulation and windows; and low-flow faucets, showers and toilets. Canopy Apartments also boasts healthier indoor air and a more weather-resistant design, and used building materials found within 500 miles – benefiting local businesses and reducing the environmental impact from shipping.

“If you want change, you just have to go for it. This feels like home.”

Jessie Love, resident (Love with his pet rabbit, Mamas, at the grand opening celebration with other guests).
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USA Properties Fund – already with 90 apartment communities in California and Nevada – could further expand with more projects in Oregon.

“Oregon and Portland-area leaders are committed to addressing the critical shortage of affordable housing, and we are looking forward to looking for projects that make sense for our company and partners,” Brown said. “Canopy Apartments is an excellent example of what we can accomplish when we work together to find effective housing solutions for residents.”

Love, who moved into his one-bedroom apartment a few weeks ago, agrees.

The apartment community is “about getting a foot under you,” Love said. “If you want change, you just have to go for it. This feels like home.”

Groundbreaking celebration held for Terracina Vista, an affordable apartment community in Gresham

The 92-apartment community is along a MAX light-rail line and will offer a community room, inside bike storage and three-bedroom units

Community leaders and company officials celebrated April 4 the groundbreaking of Terracina Vista, an affordable apartment community in Gresham, Oregon, along a MAX light-rail line and close to shopping centers, schools, health providers and two freeways.

USA Properties Fund, one of the fastest-growing and leading affordable developer-manager-owners in the West, and Northwest Housing Alternatives are partners on Terracina Vista – located at 16519 E. Burnside Street, about 10 miles from downtown Portland.

The 92-apartment community will include a community room, computer workstations and inside bike storage, a popular feature in the bike-friendly Portland region. Terracina Vista should be completed in summer 2025.

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Terracina VISTA

Several public and private organizations are partners in Terracina Vista. The City of Gresham, Oregon Housing and Community Services, and Oregon Metro are subsidy lenders on Terracina Vista. WNC & Associates is the tax credit investor on Terracina Vista. The construction lender is Capital One and the permanent lender is Citi Community Capital.

“We’re encouraged by this collaboration and the opportunity to provide much-needed affordable housing options to our community,” said Gresham Mayor Travis Stovall. “Housing for all is one of Gresham’s strategic plan priorities, and projects like this bring us closer to that vision.”

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Gresham Mayor Travis Stovall (second from the right) with USA Properties Fund’s Darren Bobrowsky and Steve Gall, and Northwest Housing Alternatives Executive Director Trell Anderson.

Terracina Vista will provide ‘access to safe, stable and affordable housing’

The $43 million development is the second in Oregon for USA Properties Fund, which has more than 90 affordable and market-rate apartment communities in California and Nevada. The company and Northwest Housing Alternatives are also partners on The Canopy Apartments at Powell, a 169-apartment community that has started leasing in nearby east Portland.

The state’s efforts to address the critical shortage of affordable housing, including through legislation and local bond measures passed by voters in recent years, drew USA Properties to Oregon.

“Oregon has been working hard on developing more affordable housing and ensuring lower-income residents have a quality, safe place to call home,” said Geoff Brown, President of USA Properties. “In a short time, we have already developed strong relationships in the region and enjoy working with Northwest Housing Alternatives and Oregon Housing and Community Services.”

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Terracina Vista 90 | USA Properties Fund, Inc.
Terracina Vista 05 | USA Properties Fund, Inc.

Terracina Vista is within the Rockwood-West Gresham Urban Renewal Plan. The urban renewal plan is an effort to boost the economy, improve job opportunities, provide more affordable housing and revive the Rockwood neighborhood.

“Northwest Housing Alternatives is committed to increasing access to safe, stable and affordable housing,” said Trell Anderson, Executive Director of Northwest Housing Alternatives. “Our investment in Terracina Vista is one more step forward in addressing the critical housing crisis in the Portland metro region and helping some of our most vulnerable community members. Affordable housing serves as the foundation for building a better future, from improving health to the overall well-being of residents.”

‘Affordable housing … is one of the most pressing issues many Oregonians are facing’

Terracina Vista will provide critically needed affordable housing for low-income residents in the Portland area, where half of households that rent are considered “cost-burdened,” spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University. More than one of every four (27%) households that rent spend at least half of their income on housing.

“The need for affordable housing across the state is one of the most pressing issues many Oregonians are facing day in and day out,” said Oregon Housing and Community Services Director Andrea Bell. “Incomes have not kept up or adjusted for inflation. Our collective mandate is to continue to come together and prioritize the creation of housing developments like Terracina Vista.”

The apartment community is for residents earning less than 60% of the area’s median income – about $67,680 per year for a family of four. Rents will be announced closer to the completion of Terracina Vista, but will be hundreds of dollars less than nearby market-rate apartment communities.

Almost half of the apartments at Terracina Vista will have three bedrooms, helping meet an often-overlooked and underserved group of renters – families.

“We are committed to meeting the housing needs of all residents, whether they are a growing family or retirees living on a fixed income,” Brown said. “As much as we are building apartment communities, we are also developing a community where people from various backgrounds will share experiences, enjoy time together and support each other.”

Terracina Vista will feature a community room, where residents can connect and get together. Other amenities will include elevators and laundry facilities in the four-story building.

Apartments will include energy-efficient appliances and lighting, and low-flow faucets, showers and toilets.

USA Properties will continue to look at other possible projects in the Portland area, which needs an estimated 58,600 more homes to meet the current demand for housing – the 19th-largest deficit in the U.S., according to Just For Growth. “Terracina Vista is another important step in a very long journey,” Brown said. “Every home that becomes available opens the door for another opportunity for residents.”

More views of the future Terracina Vista apartment community
Terracina Vista 1 | USA Properties Fund, Inc.
Terracina Vista Rendering New 2 | USA Properties Fund, Inc.

USA Properties starts construction on Terracina at Winding Creek, an affordable apartment community in Roseville

The 284-apartment community will help more residents to live and work in south Placer County

ROSEVILLE, Calif. – USA Properties Fund has started construction on Terracina at Winding Creek, an affordable apartment community in west Roseville that will provide much-needed housing for residents, from early-in-their career professionals and hardworking families saving for their first house to retirees living on a fixed income.

Terracina at Winding Creek will have a north and south site – located at 3440 Westbrook Blvd. and 1040 Lower Bank Drive – and provide affordable one- to three-bedroom apartments in one of the nation’s fastest-growing cities where rent increases have easily exceeded pay raises during the past several years.

The 284-apartment community is close to a large neighborhood shopping center with a grocery store, highly rated public schools and dozens of neighborhood parks. Several major shopping centers – including the Westfield Galleria at Roseville, the largest mall in the Sacramento region – and numerous health providers, including Kaiser Permanente and Sutter Health, are just a few miles away.

“West Roseville is an excellent neighborhood, offering first-rate schools, a network of walking trails and some of the best parks in the region,” said Geoff Brown, President of USA Properties Fund. “We’re happy to help fill the critical need for more affordable, quality housing in our community.”

Roseville-based USA Properties – one of the nation’s fastest-growing and largest affordable apartment-developer-managers in the West – has 33 apartment communities in the Sacramento region, but Terracina at Winding Creek will be only the second in its hometown. Vintage Square at Westpark, an affordable apartment community for 55-and-older residents, is less than two miles away.

WNC & Associates, a national leader in affordable housing syndication, development and preservation, is the tax credit investor for the $119.2 million Terracina at Winding Creek project. JPMorgan Chase & Co. is the construction and permanent lender on the project.

Terracina at Winding Creek

Terracina at Winding Creek will be affordable, but also amenities rich. The apartment community will include a community room, a courtyard area with play equipment, computer workstations and almost 500 parking spaces.

“We are excited to work again with our longtime partner USA Properties on Terracina at Winding Creek,” said Anil Advani, Executive President of Originations and Finance for WNC & Associates. “In addition to safe and affordable housing, Terracina at Westpark will provide residents with computer access, an exercise room, and health and wellness classes. With these opportunities, it is our hope that residents can build a foundation for growth.”

USAP Terracina at Winding Creek Side Small | USA Properties Fund, Inc.

Roseville, recently listed as the 20th fastest-growing city in the U.S. by SmartAsset, has earned dozens of “best” accolades in recent years, from one of the best cities to live in California to a top-rated place to raise a family.

The attention and booming demand for housing has increased rents by more than 10% during the past year in south Placer County, about double the average pay raise for residents, according to the U.S. Census Bureau.

“Roseville has long been a leader in assisting with the development of affordable housing, and we are committed to building our share,” said Roseville Mayor Bruce Houdesheldt. “We made the commitment back in 1989 when we instituted the 10% affordable housing goal. This goal helps ensure that there are housing options for all members of the community, spread throughout our city, and makes Roseville a welcoming place.”

Terracina at Winding Creek will be available to residents earning 30% to 70% of the area median income for Placer County, about $25,740 for a two-person household to $81,060 per year for a five-person household.

Few affordable apartment communities have three-bedroom units, popular with growing families. To meet this need, Terracina at Winding Creek will offer 71 three-bedroom units, in addition to its 97 one-bedroom apartments and 116 two-bedroom units.

The rent for one-bedroom apartments is projected to be $522 to $1,356 per month, depending on household income. Two-bedroom apartments will range from $661 and $1,626. And three-bedroom units will range from $764 to $1,879, significantly below comparable market-rate rents. Rents could be slightly higher when Terracina at Winding Creek is scheduled to open in early 2026.

Terracina at Winding Creek is part of the Creekview Master Plan that includes housing, commercial development, a school and neighborhood parks.

“Roseville is a very special place. It is a family-friendly community with a vibrant economy and many career opportunities for residents,” added Brown of USA Properties Fund. “Terracina at Winding Creek will open the door to much-needed affordable housing and many more opportunities for residents.”

9 apartment communities earn top Reputation award

USA Properties Fund had nine apartment communities, from San Diego County to the Wine Country, recently receive Reputation 800 awards, an honor that recognizes brands that effectively embrace consumer feedback online and deliver real-world results.

The annual award honors location-level businesses – such as apartment communities – for their best-in-class reputation by listening and acting on consumer feedback.

The apartment communities consistently collect, analyze and apply consumer feedback, from basic comments and compliments to complaints. One of every 10 USA Properties-owned and -managed apartment communities made the closely watched Reputation 800 list.

“USA Properties is committed to first-rate customer service and delivering a positive experience for residents and the public overall,” said April Atkinson, President of USA Multifamily Management. “We are honored to be recognized for our ongoing efforts, and are focused on continuing to improve how we connect with and respond online.”

The apartment communities that received a Reputation 800 award:

  • Vintage Terrace Senior Apartments in Corona
  • Vintage Pointe Senior Apartments in Oceanside
  • Villa Siena Apartments in Lake Elsinore
  • Avenida Crossing in Lancaster
  • Terracina Meadows in Sacramento
  • College Creek Apartments in Santa Rosa
  • Vintage at Snowberry Senior Apartments in Riverside
  • Terracina at Laguna Creek in Elk Grove
  • Aurora Apartments in Gold River
Reputation 1 | USA Properties Fund, Inc.
Reputation 2 | USA Properties Fund, Inc.

(Feature photo is Vintage at Snowberry in Riverside; above photos are the community room and the exterior of Aurora Apartments in Gold River.)

“In a world where consumers are making purchasing decisions based on what they see and hear in their local communities and online, delivering on brand performance is more important than ever,” said Liz Carter, Chief Marketing Officer of Reputation. “These USA Properties have demonstrated their commitment to evolving alongside its customers by prioritizing their needs and taking action based on what they are saying across online reviews, rating pages and on social media.”

USA Properties is one of the fastest-growing and largest affordable apartment community developer-manager-owners in the West. The Roseville-based company also has several market-rate apartment communities, including Aurora Apartments.

USA Properties and Northwest Housing Alternatives partner on Terracina Vista in Gresham, Ore.

The 92-apartment community is along a MAX light-rail line and will offer a community room, three-bedroom units and inside bike storage

USA Properties Fund, one of the fastest-growing and leading affordable developer-manager-owners in the West, and Northwest Housing Alternatives are partnering on Terracina Vista, a much-needed affordable apartment community in Gresham along a MAX light-rail line and close to shopping centers, schools, health providers and two freeways.

Construction on Terracina Vista – located at 16519 E. Burnside Street, about 10 miles from downtown Portland – will start in the next few weeks and should be completed in summer 2025. The 92-apartment community will include a community room, computer workstations and inside bike storage, a popular feature in the bike-friendly Portland region.

The City of Gresham, Oregon Housing and Community Services, and Oregon Metro are subsidy lenders on Terracina Vista.

“We’re encouraged by this collaboration and the opportunity to provide much-needed affordable housing options to our community,” said Gresham Mayor Travis Stovall. “Housing for all is one of Gresham’s strategic plan priorities, and projects like this bring us closer to that vision.“

WNC & Associates is the tax credit investor on Terracina Vista. The construction lender is Capital One and the permanent lender is Citi Community Capital.

Second affordable apartment community in Oregon for USA Properties

The $43 million development is the second in Oregon for USA Properties Fund, which has more than 90 affordable and market-rate apartment communities in California and Nevada. The company and partner Northwest Housing recently completed and has started leasing The Canopy Apartments at Powell, a 169-apartment community in nearby east Portland.

The state’s far-reaching and forward-looking efforts to address the critical shortage of affordable housing, including through legislation and local bond measures passed by voters in recent years, attracted USA Properties to Oregon, said company President Geoff Brown.

“Oregon has been working hard on developing more affordable housing and ensuring lower-income residents have a quality, safe place to call home,” said Brown, who knows the Portland area well, earning a bachelor’s degree in Economics from Willamette University in Salem. “In a short time, we have already developed strong relationships in the region and enjoy working with Northwest Housing Alternatives and Oregon Housing and Community Services.”

Geoff Brown portrait
USA Properties Fund President Geoff Brown

‘One more step forward in addressing the critical housing crisis in the Portland metro region’

A public-private partnership is critical for Terracina Vista, located in the Rockwood-West Gresham Urban Renewal Plan. The urban renewal plan is an effort to boost the economy, improve job opportunities, provide more affordable housing and revive the Rockwood neighborhood.

“Northwest Housing Alternatives is committed to increasing access to safe, stable and affordable housing,” said Trell Anderson, Executive Director of Northwest Housing Alternatives. “Our investment in Terracina Vista is one more step forward in addressing the critical housing crisis in the Portland metro region and helping some of our most vulnerable community members. Affordable housing serves as the foundation for building a better future, from improving health to the overall well-being of residents.”

Terracina Vista 3 | USA Properties Fund, Inc.
Terracina Vista will include a community room, computer workstations and inside bike storage, a popular feature in the bike-friendly Portland region.

Terracina Vista will provide much-needed affordable housing for low-income residents in the Portland area, where half of households that rent are considered “cost-burdened,” spending at least 30% of their income on housing, according to the Joint Center for Housing Studies of Harvard University. More than one of every four (27%) households that rent spend at least half of their income on housing.

Andrea Bell | USA Properties Fund, Inc.
Oregon Housing and Community Services Director Andrea Bell

“The need for affordable housing across the state is one of the most pressing issues many Oregonians are facing day in and day out,” said Oregon Housing and Community Services Director Andrea Bell. “Incomes have not kept up or adjusted for inflation. Our collective mandate is to continue to come together and prioritize the creation of housing developments like Terracina Vista.”

Terracina Vista is for residents earning less than 60% of the area’s median income – about $67,680 per year for a family of four. Rents will be announced closer to the completion of Terracina Vista, but will be hundreds of dollars less than nearby market-rate apartment communities.

Three-bedroom units offer more space for families

Just as important as the affordable housing are the size of the units, housing officials say. Almost half of the apartments in Terracina Vista will have three bedrooms, helping meet an often-overlooked and underserved group of renters – families.

“We are committed to meeting the housing needs of all residents, whether they are a growing family or retirees living on a fixed income,” said Brown of USA Properties. “As much as we are building apartment communities, we are also developing a community where people from various backgrounds will share experiences, enjoy time together and support each other.”

Terracina Vista will feature a community room, where residents can connect and get together. Other amenities will include elevators and laundry facilities in the four-story building.

Apartments will include energy-efficient appliances and lighting, and low-flow faucets, showers and toilets.

USA Properties will continue to look at other possible projects in the Portland area, which needs an estimated 58,600 more homes to meet the current demand for housing – the 19th-largest deficit in the U.S., according to Just For Growth.

“Terracina Vista is another important step in a very long journey,” Brown said. “Every home that becomes available opens the door for another opportunity for residents.”

Terracina Vista Rendering New 2 | USA Properties Fund, Inc.