Meyer Orbach and Orbach Affordable Housing Solutions have invested $29.8 million into the transformation of Playa Del Alameda, an affordable housing complex in Alameda, California.
ENGLEWOOD CLIFFS, N.J., Sept. 10, 2024 /PRNewswire-PRWeb/ -- Meyer Orbach, chairman of Orbach Affordable Housing Solutions, is excited to announce the transformation of Playa Del Alameda, an affordable housing complex located in Alameda, California. The $29.8 million project will preserve much-needed affordable housing units in the region, while also providing low-income families with upgraded and energy-efficient living spaces. This project aligns with the ongoing commitment made by Orbach to extend affordability beyond just the basic requirements of the project.
All 40 units in Playa Del Alameda will be receiving new kitchen and bathroom cabinets, as well as new quartz countertops and new vinyl plank flooring. The rehab will also include several energy-efficient features, both in the individual units and throughout the property, including new Energy Star refrigerators, new gas ranges, new vinyl windows, new water heaters and HVAC systems, programmable thermostats, and LED lighting.
The Orbach team recognizes that energy-efficient features such as these are essential for affordable housing units. Not only are they sustainable and better for the environment, but they also help to lower the costs of utilities for the tenants who live there.
Additionally, four of the units in the Playa Del Alameda complex will be converted to become ADA accessible, and will provide ADA-compliant cabinets, countertops, clearances, hardware, shelving, and more.
Mr. Orbach and Orbach Affordable Housing Solutions are dedicated to supporting low-income families by offering quality, affordable housing, especially in regions such as Alameda that are typically unaffordable for low-income tenants. According to the U.S. Census Bureau, the median household income in Alameda in 2022 was $129,917.
Still, Census data shows that 19% of the city's 76,000 residents are considered low-income. As the data shows, it is essential that affordable housing units are available in regions such as Alameda.
Moreover, renovations and upgrades to affordable housing projects such as Playa Del Alameda bring additional stability and consistency to the residents, by providing them with a safe and dependable place they are happy to call home.
In addition to the $29.8 million rehabilitation of Playa Del Alameda, Orbach and his team also invested $53.5 million in the rehabilitation of Ocean View Gardens, an affordable housing complex about ten miles north of Playa del Alameda in the city of Berkeley.
About Orbach Affordable Housing Solutions
Orbach Affordable Housing Solutions, led by Mr. Orbach, owns and manages over 8,000 multifamily units nationwide. They focus on preserving and enhancing affordable housing through significant investments and renovations, providing upgraded, energy-efficient living spaces for the residents. Recent projects in Berkeley and Alameda, California, among others, reflect their commitment to supporting low-income tenants by offering quality, affordable housing and improving residents' quality of life.
About Meyer Orbach
Meyer Orbach is the chairman of Orbach Affordable Housing Solutions and The Orbach Group, a comprehensive real estate organization specializing in Class-A properties and affordable housing. Under his leadership, the company has acquired and managed over 130 buildings in New York City and more than 50 affordable properties nationwide. He is also the co-founder of GO Partners, which owns iconic Manhattan towers like The Copper Buildings and One East River Place.
Media Contact
Jessica Brown, Orbach Affordable Housing Solutions, 303 800 6186, [email protected], https://www.mercurynewsmedia.com/
SOURCE Orbach Affordable Housing Solutions
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