SAN FRANCISCO, CA - Apartment Investment and Management Company (Aimco), one of the nation's largest owners and operators of apartment communities, is donating $300,000 worth of building materials that will be used by Habitat for Humanity to construct housing for those in need.
"We are very pleased to provide these excess materials, including new doors, siding, window frames and other fixtures from some of our recent redevelopment projects," said Miles Cortez, Aimco's Chief Administrative Officer. "As one of the nation's largest providers of affordable housing, we at Aimco understand and deeply appreciate the efforts of Habitat for Humanity to create accessible housing for people who need it most."
The materials will be split between Habitat for Humanity's Greater San Francisco and East Bay affiliates. In San Francisco, the Aimco items will be used at the Whitney Young Circle development where seven affordable homes are being built. In Oakland, the building materials will be used at the Edes Avenue development where 54 homes are being built. Other items will be sold at Habitat for Humanity East Bay's ReStore, a new and used building material outlet store, to raise funds to support Habitat's affordable housing programs.
"Both Habitat Greater San Francisco and Habitat East Bay are thrilled about this donation," said Habitat East Bay President, Janice Jensen. "We rely on community members and local businesses to provide the funding and building materials to make these affordable homes possible. This donation will bring working families that much closer to realizing their dream of owning a home."
Aimco has recently completed a multi-stage $60 million renovation of 604 residences in Hunters Point. The company acquired the four apartment communities – All Hallows, LaSalle, Bayview and Shoreview - in 1998. As part of the renovation, Aimco has committed to keeping these residences affordable for 55 years.
Aimco also provided $1 million in crucial seed money for the new Willie Mays Boys and Girls Clubhouse at Hunters Point. The funds helped pay for a new gymnasium, a multi-media center, an organic garden and teaching kitchen and a community policing office staffed by the San Francisco Police Department.
Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Aimco, through its subsidiaries and affiliates, is one of the largest owners and operators of apartment communities in the United States with 976 properties, including 160,118 apartment units, and serves approximately 500,000 residents each year. Aimco's properties are located in 44 states, the District of Columbia and Puerto Rico. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500.
Source: Aimco