$27M Funding Clears Path For 54 Affordable Homes In West Marin

POINT REYES, CA — A planned 54-unit affordable housing community in Point Reyes Station has secured $27 million in tax-credit funding, clearing a major hurdle before construction can begin, officials announced.

Tamalko Homes, a partnership between Eden Housing and the Community Land Trust Association of West Marin, was awarded low-income housing tax credits by California's Tax Credit Allocation Committee. The funding is expected to generate about $27 million in equity for the project.

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Construction is expected to begin in January 2027, with residents moving in as early as 2028.

"This funding milestone shows an amazing level of cooperation across many sectors of society," said Jarrod Russell, the Community Land Trust Association of West Marin executive director. "The $27 million in tax credits that Eden spearheaded brings us significantly closer to ensuring that 54 homes remain permanently affordable for current and future generations."

The project will redevelop the former U.S. Coast Guard housing site, with Eden Housing and the Community Land Trust Association of West Marin renovating 13 buildings across the 33-acre property. The work will include new resident amenities and upgrades to infrastructure throughout the site.

The County of Marin purchased the property from the Coast Guard in 2019. In 2020, the Board of Supervisors selected Eden Housing and the Community Land Trust Association of West Marin's proposal to rehabilitate the site. Earlier this year, the county sold the land to Tamalko Homes for $1 and provided additional funding for the project.

The 54 homes will be reserved for households earning no more than 60 percent of Marin County's Area Median Income. A portion will be set aside for families working in agriculture or people retired from agricultural work.

"This housing project is an example of what private and public partnerships can accomplish for our communities," said Assemblymember Damon Connolly. "The completion of this project is a huge milestone where West Marin residents can continue to live, work and thrive in the communities they call home."

The project comes as West Marin faces increased demand for affordable housing. More than 40 households have moved into interim affordable housing provided by the Community Land Trust Association of West Marin as part of an emergency response following the closure of ranches in the Point Reyes National Seashore and other private ranches.

The project's funding includes more than $12 million from Marin County, $11.5 million in state funding through the Joe Serna Jr. Farmworker Housing Grant Program and $1.6 million from the Marin Community Foundation, according to the Community Land Trust Association of West Marin.