Vital Housing

Vital Housing, in partnership with Enterprise Community Partners and AOF/PACIFIC AFFORDABLE HOUSING acquired Courtside Apartments, a 211-unit expiring affordable housing community in Olympia’s Capital Mall District. With debt financing from the National Equity Fund, Inc., and catalytic preservation funding from Thurston County Government we are extending the property’s affordability for 20 more years, protecting families from displacement, and strengthening the region’s affordable housing inventory. Upon acquisition, we are implementing a comprehensive decarbonization strategy at the property, helping to reduce energy use intensity and carbon emissions by over 60%. ? This acquisition underscores our commitment to preserve projects at risk of losing their affordability, ensuring long-term housing stability and reducing environmental impact. ? How We're Making an Impact: ? Ductless mini-splits – Improving energy efficiency and resident comfort ? Water-saving features – Cutting utility costs and conserving resources ? Rooftop solar – Reducing dependency on fossil fuels ? Weatherization measures – Enhancing insulation and building resilience ? At Vital Housing, we are a mission driven real estate investment company that believes affordable housing should not only be preserved but also decarbonized to meet today’s environmental challenges. Every acquisition we make is an opportunity to extend affordability, enhance energy efficiency, and create healthier, more resilient communities. ? Special thanks to the IPA Pacific Northwest team for their assistance in the transaction and Cirrus Asset Management Inc. for their continued partnership as property management. ? If you're working on similar projects or interested in exploring innovative solutions in this space; let’s connect and drive the future of affordable, sustainable housing together.

Preserving affordability for the next 99 years while cutting carbon emissions—this is what impact-driven real estate investment looks like. Vital Housing, in partnership with Freestone Capital Management, has acquired?Belmont Dairy Apartments and Lofts, an 85-unit, 148,002-square-foot mixed-use affordable housing community in Portland’s?Belmont District and Sunnyside Neighborhood. With financing led by?Berkadia and Freddie Mac, alongside catalytic capital from the?Portland Housing Bureau, this acquisition extends Belmont Dairy’s affordability for 99 years—ensuring long-term housing stability in one of Portland’s most vibrant neighborhoods. Originally,?65 affordable units were set to expire in 2026, but with the City of Portland’s support,?two additional units were deed-restricted, further deepening the property’s affordability commitment. But affordability isn’t the only impact. Belmont Dairy will undergo a?transformational energy retrofit, replacing?all natural gas residential systems with high-efficiency all-electric heat pumps. Once complete, the project will: ??Reduce carbon emissions by 122 tons annually ??Cut energy use intensity by over 45% ??Lower operating costs and improve long-term sustainability This project reflects?Vital Housing’s mission—leveraging?innovative financing solutions and sustainable practices?to preserve affordability while advancing decarbonization in multifamily housing. A huge thank you to?Freestone Capital Management , Portland Housing Bureau, Climate United, and Berkadia Mortgage?for their partnership in making this possible. Let’s build the future of affordable housing together. If you're working on?preservation and sustainability-driven solutions, let’s connect. #affordablehousing #preservation #decarbonization #energyretrofit

Great to participate with this esteemed group. Look forward to more solutions hitting the market and learning from doing! #decarbonization #affordablehousing #preservation

Incentivizing the development of all types of multifamily supply, including capital "A" affordable properties, is crucial to address the affordable imbalance. When we improve housing affordability for everyone, we improve society stability. Let's work together to make housing more accessible and affordable for everyone. #affordablehousing #housingaffordability #newdevelopment