<img src="https://ml.globenewswire.com/Resource/Download/5b79f1a1-bcd2-43bb-8a12-36f2d40e6304?size=2" nborder="0" align="left" hspace="5" vspace="5" title="CLAM logo stacked color (1).png" alt="Community Land Trust Association of West Marin (CLAM)"/>54-unit affordable housing community, the largest in West Marin, to begin construction in early 2027<div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 54-unit affordable housing community, the largest in West Marin, to begin construction in early 2027
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 <img src="https://ml.globenewswire.com/Resource/Download/5a0aad4e-c98a-40ae-92b3-47bd4e650f48" title="54-unit affordable housing community, the largest in West Marin, to begin construction in early 2027" alt="Together, Eden Housing, CLAM, and the County of Marin are revitalizing the previous federal housing site, anticipating a 2028 move-in date." />
 <figcaption>Together, Eden Housing, CLAM, and the County of Marin are revitalizing the previous federal housing site, anticipating a 2028 move-in date.</figcaption>
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 Former Coast Guard Housing in Point Reyes Station Clears Path to Construction as Tamalko Homes Secures $27 Million in Low-Income Housing Tax Credits
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 <img src="https://ml.globenewswire.com/Resource/Download/c801cf2d-7d55-4b6f-8922-6c537d11cfff" title="Former Coast Guard Housing in Point Reyes Station Clears Path to Construction as Tamalko Homes Secures $27 Million in Low-Income Housing Tax Credits" alt="partnership between Eden Housing and the Community Land Trust Association of West Marin (CLAM), has been awarded low-income housing tax credits (LIHTC) by the California Tax Credit Allocation Committee (TCAC) to redevelop former U.S. Coast Guard housing in Point Reyes Station. The award will generate approximately $27 million in equity for the project—a transformative milestone that clears the way for construction to begin in January 2027." />
 <figcaption>partnership between Eden Housing and the Community Land Trust Association of West Marin (CLAM), has been awarded low-income housing tax credits (LIHTC) by the California Tax Credit Allocation Committee (TCAC) to redevelop former U.S. Coast Guard housing in Point Reyes Station. The award will generate approximately $27 million in equity for the project—a transformative milestone that clears the way for construction to begin in January 2027. </figcaption>
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</div>PT. REYES STATION, Calif., Sept. 10, 2026 <a href="https://www.globenewswire.com" target="_blank">(GLOBE NEWSWIRE)</a> -- Tamalko Homes, a limited partnership between <a href="https://www.globenewswire.com/Tracker?data=ZXWVG0l9E8YObYlQSZNK7JysgPjmo_-hcmbeQMivfRuziGk69bg209CRW6Xm646c0WzCnWwshBvaaDfXsYuuyA==" rel="nofollow" target="_blank" title="">Eden Housing</a> and the Community Land Trust Association of West Marin (<a href="https://www.globenewswire.com/Tracker?data=sn5g9yjGTVaY0pdyXSxJD7TfolmnRdutxfTckYk_RPnKqUdx1BQbZnHJU6gykNtlVSsEkM9_DV9i0oSwjd-ovg==" rel="nofollow" target="_blank" title="">CLAM</a>), has been awarded low-income housing tax credits (LIHTC) by the California Tax Credit Allocation Committee (TCAC) to redevelop former U.S. Coast Guard housing in Point Reyes Station. The award will generate approximately $27 million in equity for the project—a transformative milestone that clears the way for construction to begin in January 2027. Together, Eden Housing, CLAM, and the County of Marin are revitalizing the previous federal housing site, anticipating a 2028 move-in date. Low-income housing tax credits are the primary federal tool for financing affordable rental housing development. Administered in California by TCAC, the competitive program allocates credits to projects that meet rigorous standards for affordability, location, and design. When awarded, credits are sold to private investors, generating the equity that makes construction financially viable. For Tamalko Homes, the LIHTC equity represents the final major funding piece needed to move the project into construction. Eden Housing and CLAM will renovate 13 buildings across the 33-acre site, providing new resident amenities and upgrading site-wide infrastructure. The property was originally purchased in 2019 by Marin County from the U.S. Coast Guard. In 2020, the Board of Supervisors selected a joint rehabilitation proposal from Eden Housing and CLAM. Earlier this year, the County of Marin sold the land containing the housing for $1 to Tamalko Homes, in addition to allocating significant funding for the development and operations of the affordable housing project. The Tamalko Homes project comes at a critical time when over 40 West Marin households have moved into interim affordable housing supplied by CLAM, as part of an emergency response due to the closure of ranches in the Point Reyes National Seashore and other private ranches. The 54 homes at the former Coast Guard facility will help meet the growing critical need for permanent affordable housing in West Marin, a portion of which will be set aside for families who work in agricultural production or who are retired from agricultural work. The project will provide affordable housing to households earning no more than 60% of the Area Median Income (AMI), which equates to $104,460 for a household of three in 2025 in Marin, with rent for a two-bedroom unit not to exceed $2,611. A subset will be rented to households earning no more than 30% AMI, equating to an annual income of $52,230 for a household of three and rent of $1,305 for a two-bedroom unit. “Working families and farmworkers are the backbone of our local economy and culture, and ensuring they have access to high-quality, affordable homes is one of our highest priorities,” said Marin County Supervisor Dennis Rodoni, who represents West Marin. Jarrod Russell, CLAM Executive Director, added “This funding milestone shows an amazing level of cooperation across many sectors of society, from the grassroots efforts of the West Marin community, to our incredible partnership with the County of Marin, which jumpstarted this project by providing the land and contributing over $12 million in funding. Add to this, $11.5 million in state funds from the Joe Serna, Jr. Farmworker Housing Grant Program, along with $1.6 million from Marin Community Foundation. 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.” “We are deeply grateful to TCAC for its continued partnership and commitment to supporting the creation and preservation of affordable housing throughout California,” said Linda Mandolini, President and CEO of Eden Housing. “We are also thankful to our partners at CLAM and the County of Marin for their steadfast support and collaboration in advancing this important project. We look forward to breaking ground and bringing these much-needed homes to the community in the near future.” “This housing project is an example of what private and public partnerships can accomplish for our communities,” said Assemblymember Damon Connolly (D-San Rafael). “I was proud to support the funding that helped our local partners give our working families the stability that they deserve. 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. Thank you to CLAM and Eden Housing who helped bring this essential project to life.” "Marin Community Foundation is proud to stand alongside CLAM, all project partners, and public and private funders to keep West Marin families rooted in their community,” ​said Rhea Suh, President &amp; CEO, Marin Community Foundation. "The low-income housing tax credit awarded to Tamalko Homes is the result of CLAM's leadership and the public and private funders who backed it. Marin Community Foundation is proud to be one of them as we work towards a thriving and equitable West Marin.” About County of Marin The County of Marin is a vibrant and thriving organization comprised of 23 agencies and departments with a workforce of approximately 2,400 employees. The County’s array of public safety, community development, public works, health and human services, community services and administrative services is governed by the Board of Supervisors, which is made up of an elected representative from each of the five voting districts in this county. About Eden Housing Eden Housing is a nonprofit organization with 55 years of experience providing safe and affordable housing that helps families stay secure, allows communities to thrive, and solves many of the most pressing housing challenges facing California cities. Since its inception, the Bay Area-based organization has developed more than 10,000 affordable homes and is a leader in making its residential communities environmentally sustainable and efficient through integrating energy conservation. Eden is also known as a champion of housing policy advocacy at the local, state, and national level, supporting practices that both create and preserve affordable housing for diverse communities. Learn more at <a href="https://www.globenewswire.com/Tracker?data=TiAC-pC9MFQaZWbp-CMniw-Lvh5H-C9S0JhX9KTgXcIe80PVSmwKrr_yI9v25jLE2_rhOkjkYNPEhkqulz9S1qtcRSkre_8_8HMyH7BWpxo=" rel="nofollow" target="_blank" title="">www.edenhousing.org</a>. About CLAM The Community Land Trust Association of West Marin (<a href="https://www.globenewswire.com/Tracker?data=sn5g9yjGTVaY0pdyXSxJD4D50IE4Zx9DP-Apn7veQmjaNTxwEGzSy-mGQrSjvJHZNvsZVm_NdCZ9IXe2_1X8eA==" rel="nofollow" target="_blank" title="">CLAM</a>) strengthens communities in West Marin through the creation and stewardship of permanently affordable homes. As a community land trust, CLAM removes properties from the speculative market and holds them "in trust" for the community's benefit, ensuring that homes remain affordable for families across all income levels. Each property CLAM acquires expands access to stable housing and homeownership for community members, helping to preserve economic and racial diversity throughout West Marin. CLAM's community-governed board ensures that local residents make decisions about property acquisition and stewardship, strengthening the role of residents in shaping the future of their community. Media Contacts: Sarah Jones Director, Marin County Community Development Agency (415) 473-7001 <a href="https://www.globenewswire.com/Tracker?data=nWkJLXoW4E5V4VYGJ3TMhYhFuFYveKq1jYeZBC6JIM0VNeJq31DFtrQiSElN_Bu4LSMyLlynZr-H8xlewNF5fmGdNBy0XldK4j5DB1Zh8CPdJ_26pETcBmaTUI-WWEuR" rel="nofollow" target="_blank" title="">sarah.jones@marincounty.gov</a> Birgit Johnston Johnston Communications for Eden Housing (408) 656 8025, <a href="https://www.globenewswire.com/Tracker?data=uPsCPckqaq6K27wn1hG9jIIT57v--zzs2tGzQdrJSiZ7Va10jQr4XzhjUmOay-5VeoANL-6iF6cRafEFc28dkQB9F-YJW8b7CsEGWk3z-sk=" rel="nofollow" target="_blank" title="">birgitjohnston@me.com</a> Heidi Groshelle Groshelle Communications for CLAM (415) 307-1380, <a href="https://www.globenewswire.com/Tracker?data=Tbg5IV8RejedYNOOhdiTiOi18UcbNTp68c6wWdheBUBQ2iFme0bq3HhA9_uOufG7lKlLYPZ_0GlEpXkrpicNl-kv9-ISGVEKnzdIPt-gyIU=" rel="nofollow" target="_blank" title="">heidi@groshelle.com</a> Photos accompanying this announcement are available at:  <a href="https://www.globenewswire.com/Tracker?data=f0sa65gZh5WZGt83aAZzaXzyx4n5G0O4EoDFlQFSfSVo5tVoDaPzXjvfN-6osWMRm5e-At-BQiED8ubmEfMB6IR0mV1VbxvFMbgEe_Ydp2PoTo8kvuTmleV9LX91EwDsPxaz28BJybqagJhNQurDQxaJvZT3-XKsMKkphIZbi3pd6DbM_B1CKbh9FED8D-x8GZTxOmYEvkOo6c21XXA-yhrP86_cIbUFR1nf9Rh3AaMTyubFG_-HZ82d38c2A1yxFjW8UyNNJOko0Zg2Sz76ag==" rel="nofollow" target="_blank" title="">https://www.globenewswire.com/NewsRoom/AttachmentNg/5a0aad4e-c98a-40ae-92b3-47bd4e650f48</a> <a href="https://www.globenewswire.com/Tracker?data=f0sa65gZh5WZGt83aAZzaXzyx4n5G0O4EoDFlQFSfSVo5tVoDaPzXjvfN-6osWMRS-dZJz_3yXSSPmnf2Asj---N8wC_IrIZ4hZ-fvr5MeJMdE7nWa657IS0se_PtwmGKVlV4Rjr2ithMUMF0lYDavTTptuRS2IaRxvEQgs51MlBZKHaDR0WrYC37MlsIRHHETDayDJT82pv56tNBdVeGwmeN0suezT3O6HgpyCTlwiSsevnNF1DRugNdz4feX94J0FFQ1NpIPztqN13ql2Aeg==" rel="nofollow" target="_blank" title="">https://www.globenewswire.com/NewsRoom/AttachmentNg/c801cf2d-7d55-4b6f-8922-6c537d11cfff</a> <img alt="" src='https://ml.globenewswire.com/media/ZjU5YWYxMjktMmFhOC00NTBjLTg3M2UtNjE2OTYwMjZiZjViLTEzMzYyMTAtMjAyNi0wOS0xMC1lbg==/tiny/Community-Land-Trust-Associati.png' referrerpolicy='no-referrer-when-downgrade' />

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Tamalko Homes Clears Path to Construction of former Coast Guard site in Point Reyes Station by Securing $27 Million in Low-Income Housing Tax Credits

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