Preserving existing affordable homes is vital to addressing California’s housing and homelessness crisis. As housing properties age, they require costly repairs and upgrades, and with little funds for maintenance, some properties have fallen in disrepair.

HCD’s Portfolio Reinvestment Program (PRP) works to preserve affordable housing by extending affordability agreements and providing special financing, including to help fund repairs and upgrades.

Sacramento’s historic Sequoia Hotel is one such project. Build in 1906, the property requires substantial rehabilitation and renovation. With funding from HCD’s PRP program, The Sequoia is being brought back to life as permanent supportive housing.

Watch the video to learn how the PRP program will help ensure this property remains safe, livable and affordable for generations.