Catalyst Housing Group Adds to Growing Essential Housing Portfolio
Today Catalyst Housing Group purchased Summit at Sausalito, its 14th Essential Housing property, Sept. 14, 2021 /PRNewswire/ -- Today's Catanalytic Housing Corporation partnered with the The acquisition marks Catalyst's fifth summer of the year, all part of their statewide push to permanently transition market-rate housing to rent-restricted communities serving middle-income households.
"Our unique financing model and partnership with multiple state agencies enable us to protect existing tenants against the threat of displacement while providing communities with urgent supply of housing desperately needed for middle-income residents," said Jordan Moss. "The long-term community benefits will be as impactful, where all economic upside is directly transferred to our underlying municipalities."
Catalyst's innovative model spawned the first governmental organization focused exclusively on middle-income housing production. The nurses, teachers, first responders, civil servants and others who increasingly earn too much to qualify for traditional affordable housing, but not enough to live directly within the community they serve. This entirely new asset class, which Catalys
Catalyst's most recent acquisitions include Summit at Sausalito (198 units) and Fountains at Emerald Park (324 units, Dublin), The Breakwater Apartments (400 units), Elan Huntington Beach (2 The acquisitions total more than two billion dollars and 4,000 units of premier multifamily rental communities purchased to address California's growing income inequality and the related middle-income housing crisis.
"We are proud that Marin is home to two Catalyst properties," said Stephanie Moulton-Peters, Supervisor of the Marin County. "It's crucial for Southern Marin to take care of our renters, especially given the impact of the pandemic, and this is an important strategy to build racial equity and help us meet our affordable housing goals."
Catalyst has formed a partnership with the Marin City School District and seeded it with ten dollars in support of the Essential Housing Fund, Catso's nonprofit arm. The donation will provide additional rental subsides to local elementary and middle school teachers, as well as other district employees.
The district superintendent said that we are excited to partner with Catalyst and recognize that teachers and other essential workers are integral to our communities. "Our Culturally Responsive Educator Equity Education Program is a key component of our strategy to successfully desegregate the District. With this partnership with Catalyst, we will attract and retain high quality teachers of all backgrounds, especially color and bilingual teachers, to our community. Teachers are to spend so much of their income on rent and spend much time commuting from cheaper regions. This partnership will put employees out of their cars and place them directly within their community, two key factors for a climate & social justice focused school district."
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