EL CAJON, CA – CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, has announced the acquisition and plotted renovation of Lexington Green Apartments, an affordable housing complex in El Cajon, Calif. CPP partnered with co-developer The Hampstead Companies on the deal. This is the second community in El Cajon for CPP, joining Park Villa Apartments.
Lexington Green Apartments is located in a primarily residential neighborhood two miles east of downtown El Cajon, which sits 17 miles east of downtown San Diego. Originally built in 1970, the property last underwent a tax credit renovation in 2007, which replaced some, but not all, original building systems. The property consists of 144 units, spread across 12 two-tale residential buildings. CPP s total development investment is approximately $80,000,000, which includes the buy price of $52,880,000 and estimated renovation costs exceeding $80,000 per unit.
Lexington Green Apartments aligns with one of CPP’s core philosophies of strengthening cornerstone communities in the neighborhood while extending the affordability of the community, said Evan Cramer, Assistant Development Manager at CPP. We hope to accentuate the feeling of pride that Lexington Green’s residents have for their community while providing the physical upgrades necessary to ensure the property remains a prominent piece of the community for many years to come.
The renovation will exceed the 10% energy savings requirement from the California Tax Credit Allocation Committee (CTCAC) through the replacement of all windows with energy efficient vinyl retrofit windows, water heaters, Energy Star appliances, and energy efficient LED light fixtures.
At Lexington Green, incorporating green, energy-saving appliances and fixtures allows us to weave sustainability into the residents daily lives and helps further our goal to make a more sustainable future, John Fraser, Vice President CPP – East.
Additional upgrades will include dryrot repairs, flooring replacement, new cabinets and countertops. ADA-complaint upgrades will be made for units and path of travel throughout the property.
CPP and The Hampstead Companies are partnering with LifeSTEPS to provide instructor-led adult educational classes including financial literacy, computer training, resume building, nutrition, exercise, parenting, and more. LifeSTEPS will also provide individualized health and wellness services and programs such as crisis intervention, practical counseling and emotional support, physical and mental health assessments.
Renovations are expected to be complete by August 2025. With CPP’s involvement, the property s previously expired affordability status will be extended until 2044 under a renewed Section-8 Housing Help Payment (HAP) contract.
Additional partners on the project include the California Tax Credit Allocation Committee (CTCAC) and California Debt Limit Allocation Committee, who issued and allocated 4% LIHTC and Tax-Exempt Bonds, WNC & Associates, and Ready Capital.

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LOS ANGELES, CA – Affirmed Housing, a leading provider of affordable housing throughout California, announced the completion of The Iris, a new, affordable and supportive housing development serving low-income and formerly unhoused Angelenos in West Los Angeles. A special ceremony was held to commemorate the project s grand opening and attended by Councilmember Traci Park.
Building more affordable and permanent supportive housing is a critical priority and core strategy in our comprehensive and citywide effort to confront the homelessness crisis, said Los Angeles Mayor Karen Bass. For the first time in six years, homelessness is down in the city as a result of public-private partnerships and a shared commitment to urgently house Angelenos. This new development continues that momentum. Now, many more Angelenos will have a roof over their head and the care and services that they deserve.
The Iris is another example of our efforts to bring comprehensive solutions to Council District 11, said Los Angeles City Councilwoman Traci Park. This project will make a real difference for working families on the Westside, while also providing a home with wrap-around services to the formerly unhoused, putting them on a pathway to a purposeful life.
The Iris is a six-tale development comprised of 61 new homes that come in a mixture of studios, one-, two-, and three-bedroom apartments. Nearly half of the apartments are dedicated to supportive housing for formerly unhoused residents earning 30 percent of the area median income (AMI), and the remaining apartments are set aside for family households earning between 30 and 60 percent AMI, as well as one property manager unit. Several shared onsite amenities are incorporated throughout the building, including a laundry room, mail room, management and services offices and a large community room with a kitchen and media area. The rooftop deck features a lounge area and a community garden with planting beds available to residents.
The Iris is Affirmed Housing s second project to open in Los Angeles this year. Lumina, a new, supportive housing development with onsite services for unhoused veterans and people with disabilities recently opened in Chatsworth.
The Iris and Lumina both arrive at a critical time. Vulnerable Angelenos need more than just a roof over their heads; they need a safe environment to stabilize, reacclimate and start the next chapters of their lives, said Affirmed Housing President Jimmy Silverwood. These projects deliver a combination of housing, care and support to help residents do all of that and be successful in living their best lives for the long term. These projects also demonstrate the city s commitment to housing citizens using compassionate, people-centric solutions that make the region a better place to live.
In addition to housing, The Iris residents have exclusive access to onsite supportive services and care provided by The People Concern, one of the region s largest social services agencies dedicated to providing integrated and comprehensive care to people experiencing homelessness, helping them break chronic lifecycles of living on the street. Social service and case manager offices are located on the ground floor in secured space adjacent to a break room for service and staff personnel. The Iris location in a high resource area, just off the 405 freeway, also fosters more autonomous living, allowing residents to conveniently access offsite amenities that include schools, grocery stores, public parks, a library, a medical clinic and public transportation.
The Iris is funded through a combination of sources, including the City of Los Angeles, deferred developer fees, and federal and state tax credits. The Housing Authority of the City of Los Angeles is providing project-based vouchers for the supportive homes.
Bank of America is proud to have helped finance The Iris, bringing much needed affordable and permanent supportive housing to West Los Angeles. This public-private partnership led by Affirmed Housing in partnership with the City of Los Angeles has made a new, high quality affordable housing community with critical services to help residents regain personal and financial stability, said Garrett Gin, Bank of America Los Angeles market executive.

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TALLAHASSEE, FL – Portman, 908 Group, Canyon Partners Real Estate LLC and PTM Partners have announced the formation of a new joint venture to develop a student housing project on the Florida State University campus across from Legacy Hall, the future home for the FSU College of Business, currently under construction with completion scheduled for spring 2026. The joint venture secured a $73.3 million senior construction loan from Pacific Life Insurance Company.
The Hall is a Class-A student housing project located in a qualified opportunity zone. It will feature 191-units and 674 beds across two mid-rise buildings, with 452 parking spaces and 7,689 square feet of ground floor retail. The General Contractor is FavorGray. Construction is expected to be completed prior to the start of the 2026-2027 academic year.
The Hall will bring a luxury residential experience immersed within the FSU campus, with amenities including a rooftop pool, high-speed Wi-Fi, and a state-of-the-art fitness center. Residents will benefit from immediate proximity to the new Legacy Hall of Business facility, expected to be the largest academic space on campus. The Hall is also a 10-minute walk from FSU’s main campus, and central to a variety of key retail offerings including restaurants and fitness studios.
“Today’s students expect the best in their living experience, and Portman has a proven track record of delivering top-of-the-line residential communities that do just that,” said Portman Senior Vice President Rodney King. “We are entering the market with a solid deal to deliver a high-quality student housing project at one of the southeast’s most prominent college campuses. We are bullish on student housing and are currently pursuing several deals at top-tier universities that will break ground in 2025.”

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