March 18, 2025–Oakland, CA
As a people-first organization, Merritt is proud to be an investor in affordable housing communities throughout California that provide homes where residents can thrive and support the Asset Management, Property Management, and Operations teams who make that possible. We are a steward and limited partner during the initial 15-year tax-credit compliance period and then transfer ownership to our general partner non-profit partners. To ensure the affordable housing communities continue to thrive for years to come, Merritt is committed to financial resources remaining within the project and are not provided as compensation for the transfer.
In 2024, Merritt transferred six projects to our mission-aligned non-profit partners.
Casa Grande – PEP Housing – Sonoma County
Rowan Court – Burbank Housing – Sonoma County
Ashland Village – Eden Housing – Alameda County
Arden Aire – Mercy Housing – Sacramento County
Palisades – Burbank Housing – Napa County
Tahoe Senior –HumanGood – El Dorado County
“As an owner/operator it’s our mission to build affordable housing that puts people first and having a partner who shares the same mission allows us to collaborate with a unified purpose,” Julie Heredia, Director of Asset Mangement at Burbank Housing shared. “Over the past 15 years, we’ve surmounted endless challenges from the great recession to a global pandemic with Merritt supporting us on every twist and turn. While our recent dispositions are bittersweet, marking the end of our partnership, we are confident that the team’s dedication and expertise will foster ongoing collaboration as peers within the industry. As one chapter concludes another commences, and we look forward to continuing our relationship as we embark on our next chapter.”
Merritt would like to thank our Asset Management staff for the work they do with our project partners and ensuring people are living in a community where they can thrive.
“Transfers are a complex experience for Merritt’s asset management team. While they signify the conclusion of a partnership with our developer partners, they also enable us to transfer full control to the developers, who are adept at providing outstanding affordable housing experiences throughout California,” shared Director of Asset Management, Izaac Singh. “We hold in high regard the exemplary work of our partners, especially the Asset Management and Operations teams, whose contributions are crucial in ensuring smooth transitions and maintaining high-quality affordable housing communities for residents to thrive.”
Our team creates strong and close relationships with our partners and affordable housing communities to support and ensure both staff and residents are set up for success.
Thank you to PEP Housing, Burbank Housing, Eden Housing, HumanGood, and Mercy Housing for your relationships on these projects. We look forward to our continued partnerships.
About Merritt Community Capital Corporation
Merritt Community Capital Corporation is a nonprofit dedicated to our mission to provide equity capital for affordable housing exclusively to California. We do this by partnering with mission-aligned affordable housing developers throughout the state to ensure the most critical communities are developed and maintained for low-income residents. Since 1989, Merritt has created and/or preserved 12, 000 affordable homes, through investing over $1.6 billion, providing housing for over 30,000people.