The G & K real estate portfolio includes nearly 7,500 units in government subsidized multifamily properties. The establishment of the portfolio began in the late 1960's with family and senior apartment developments in Southern California. Properties continued to be developed throughout California in the 1970's and early 1980's as new government housing programs and funding became available. Locations were selected based upon available housing requirements, local governmental cooperation, and the quality of the neighborhoods.
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Each property is subject to a regulatory agreement with either the United States Department of Housing and Urban Development (HUD) or the California Housing Finance Agency (CalHFA). Properties receiving government rental subsidies are regulated under a Housing Assistance Payment contract with either HUD or CalHFA. These agreements contain restrictions concerning applicable rent charges, operating policies, and operating expenditures.
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Because of G & K Industries’ long-term hold policy, each property in the government subsidized property (more commonly referred to as "affordable property") portfolio is the best maintained and premier complex in its surrounding neighborhood.
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