Enterprise, Eden Housing and Cal State East Bay Find Home for 85-Year Old Homeless Grad Ida Cotton

COLUMBIA, Md., Sept. 22 /PRNewswire/ -- Enterprise Community Partners, Inc. (Enterprise), Eden Housing and California State University, East Bay have partnered to provide 85-year-old Cal State East Bay master's degree recipient Ida Cotton with an affordable place to call home -- The Altenheim, a 174-unit affordable senior housing apartment complex in Oakland, California. Ms. Cotton, who earned the graduate degree in June, lives on a fixed income. She did not have a home upon leaving the University and was in danger of becoming homeless if forced to leave the university's student apartment complex upon completion of her studies.

"Enterprise found out about Ida's story through a segment on a national news broadcast that Cal State East Bay secured on her behalf as a call for help," said Rich Gross, Vice President and Northern California Impact Market Leader, Enterprise. "Enterprise has helped to finance senior affordable housing for decades, so when we saw the story we thought we might be able to help place Ida with our partner Eden Housing and reached out to Cal State."

Cal State East Bay went out of its way to allow Ida to stay in campus housing over the summer following her graduation until she found permanent housing.  Ida and seniors like her are a fast growing population across the country.  Considering more than 3.7 million seniors live below the poverty line, Enterprise's work to develop and finance affordable senior housing through tax credit equity, debt and predevelopment lending as well as to support policy solutions that help create and preserve senior housing has never been more important.  

"My only income is Social Security," said Ms. Cotton. "It would have been very difficult to live and pay rent on my fixed income. I am thankful to Enterprise, Eden Housing, Cal State East Bay, the Senior Moments organization of San Leandro, the San Leandro Lions Club and all of my friends who have helped me through this period. I look forward to my future and my new home at The Altenheim!"

The Altenheim is an affordable rental apartment community for low-income seniors in Oakland's Dimond/Glenview district. It is owned and managed by Eden Housing. The property features, among other amenities for residents, a six-acre landscaped campus with community gardens, onsite services and activities, and energy-efficient appliances and lighting.

"Ida's story is a great example of the importance of and critical need for affordable housing, especially for seniors living on fixed incomes," said Linda Mandolini, Executive Director, Eden Housing. "We were thrilled that Enterprise reached out to us and that were able to provide Ida with a high-quality, affordable home close to public transportation and services. We also want to thank the Oakland Housing Authority for assisting with this process."

About Enterprise

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $10.6 billion in equity, grants and loans to help build or preserve more than 270,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.

About Eden Housing

In 42 years of service throughout Northern California, non-profit Eden Housing, Inc has provided a home for over 58,000 people.  Hayward-based Eden Housing is the long-term owner-operator of its developments, and is committed to preserving and maintaining its buildings as community assets and supporting residents with a range of services.  Since the organization's beginnings in 1968, Eden Housing has developed 5,688 housing units and 60,100 square feet of adjoining commercial/retail space in 80 properties. For more information about The Altenheim and other affordable housing opportunities through Eden Housing, visit www.edenhousing.org.

SOURCE Enterprise Community Partners, Inc.