Preserving Affordable Homes for California’s Future (Video)

June 11, 2024
Graphic of multifamily homes; text Portfolio Reinvestment Program

Preserving existing affordable homes is vital to addressing the state’s housing and homelessness crisis.

HCD-funded housing developments must keep their homes affordable for a number of years. But when these affordability agreements end, homes are in danger of converting to market rate and raising their rents, and residents are in fear of losing their homes. In addition, as these properties age, they require costly repairs and upgrades, and with little funds for maintenance, some properties have fallen in disrepair.

Watch the video below to learn how HCD’s Portfolio Reinvestment Program provides strategic investments to help keep HCD-funded properties safe, livable and affordable for years to come.