Corporation for Better Housing (CBH), a nonprofit affordable housing developer, announced that it has selected WinnResidential to manage its 70-property, 4,313-unit multifamily portfolio stretching from south of Los Angeles to north of San Francisco.
WinnResidential, the largest manager of affordable housing in the United States, assumed management of the entire CBH portfolio on the same day—October 1—following an exhaustive effort to coordinate the simultaneous takeover among its nationwide staff based in Boston and its regional team in Fresno.
Based in Woodland Hills, CA, CBH was founded in 1995 with the mission of providing low to moderate income seniors and families with safe, quality affordable housing, coordinated access to enhanced social service programs and the dignity and peace of mind which create a better living environment.
CBH utilizes a variety of funding sources for their developments, which include Low Income Housing Tax Credits, HOME, HCD, AHP, USDA Rural Development and other state and local funding programs. In searching for a new management company, CBH was looking for a firm with a strong local presence, as well as depth and capacity in all departments, to oversee their diverse and growing portfolio.
The addition of the CBH communities brings the active WinnResidential portfolio in California to 156 properties totaling more than 13,200 apartments across all income categories. The company’s workforce in California now totals nearly 420 team members.