Market-rate rents have skyrocketed in BRIDGE locations, with Oakland,
San Jose, Sacramento, San Francisco and Seattle posting growth among the top 10
nationwide. While employment figures rose, incomes remained flat for households
on the lower rungs of the economic ladder, driving demand for affordable housing
through the roof.
In this context, BRIDGE's implementation of its five-year Strategic Plan in 2013
was fortuitously timed and has helped guide a path to growth. With the dedication
of our staff and Board, BRIDGE has been focusing on strategic outcomes such as
pipeline development and cost management. In 2014, the company ranked #5
nationally and was the only nonprofit to appear in the top 10 of Affordable
Housing Finance's Top 50 Developers.
While we are proud of our bricks-and-mortar buildings, we know that at the end
of the day, our impact on people’s lives is what counts. The average BRIDGE
resident earns a $31,852 a year. Nine out of 10 residents earn 50% or less
of Area Median Income.
At every ribbon-cutting celebration, we hear that the
combination of well-managed homes plus resident and community services brings
people new opportunities and new hope.
For Lolly Gilbert, a certified nursing assistant who lost her husband to cancer,
moving into BRIDGE's 474 Natoma was an answer to her prayers. "I kept hoping for
a place of my own, where I could enjoy some quiet and privacy," she said. "When
I went through the door of my new apartment for the first time, I cried and
cried, but they were tears of joy."
For more than 30 years, we have been building, sustaining and leading. It is in
our DNA to press for innovative, cross-sector solutions to some of the toughest
challenges faced by people and communities, and we look forward to the work ahead.
Thank you for your friendship and partnership.
Cynthia A. Parker
President & CEO