FOR IMMEDIATE RELEASE

FPI Management Collaborates with Alameda Housing Authority to Manage New Affordable Housing Developments

FOLSOM, Calif. – June 5, 2024 FPI Management, Inc., a private third-party multifamily management provider, is pleased to announce it has been selected by the Housing Authority of the City of Alameda (AHA) and its affiliate, Island City Development,  to manage their new affordable housing developments as part of the North Housing Master Plan. This initiative marks a significant step towards addressing the housing needs of low-income residents in Alameda.

The North Housing Master Plan, celebrated with a construction kickoff on April 24, 2024, will bring over 100 new affordable homes to Alameda through developments at The Estuary I and Linnet Corner. These homes are designated for homeless and formerly homeless individuals, military veterans, and seniors aged 62 and older. The first phase of construction is expected to be completed by late 2025.

FPI-Management-Affordable-Housing-Alameda-Development

The North Housing Master Plan, situated on a twelve-acre site granted to AHA by the U.S. Department of Navy, aims to develop 586 homes, which are expected to open in the summer of 2025. FPI Management will provide leasing and property management services for The Estuary I and Linnet Corner. 

Building Futures and Alameda Point Collaborative will offer comprehensive case management and supportive services for residents at The Estuary I, while LifeSTEPS will provide similar services at Linnet Corner. These collaborations will help provide residents with the necessary support to achieve stability and prosperity. 

“We are thrilled to be part of this transformative project,” said Curtis Tumbaga, Vice President of Affordable Communities.  “It is an honor to be part of a project that will provide quality, affordable housing to those in need, and we are committed to delivering excellent property management services to the residents of The Estuary I and Linnet Corner.”

The project’s funders include various local and federal agencies, demonstrating a robust public-private effort to address housing insecurity in Alameda. The initiative underscores the critical need for affordable housing and its positive impact on individuals and communities.

About FPI Management:

FPI Management was founded in 1968 as a builder and operator of high-quality, affordable apartment communities in Sacramento, CA. In 1989, the company was purchased by Dennis Treadaway and three other partners, and the complexion of the company morphed from a developer builder to an exclusive 3rd party fee manager with no ownership interest in the properties it manages. This has been FPI Management’s business plan since that time. Headquartered in Folsom, CA, FPI Management’s clients comprise institutional investors, international real estate investment firms, financial institutions, multifamily development builders, private investors, and City, County, and State agencies.

For more information about FPI Management and its dedicated Team, please visit  www.fpimgt.com.

FPI Media Relations Team:  media@fpimgt.com  

SOURCE: FPI Management