FOR IMMEDIATE RELEASE
March 9, 2009

Media Contact:
Seth Kilbourn, Executive Director
415-296-8995

AF Evans Company Files Chapter 11 in Strategic Reorganization

Minimal Impact on openhouse Development of Senior Housing at 55Laguna St.

San Francisco – On March 5, AF Evans Company, Inc. filed a voluntary Petition for Relief under Chapter 11 of the United States Bankruptcy Code. AF Evans is the private developer partnering with openhouse to build affordable senior housing at 55 Laguna Street.

“Our development at 55 Laguna Street of affordable housing with care and support services welcoming to lesbian, gay, bisexual and transgender (LGBT) seniors is minimally impacted by the reorganization of the AF Evans Company,” said openhouse Executive Director Seth Kilbourn.

“The AF Evans Company remains fully committed to openhouse and the 55 Laguna Street development,” said CEO Art Evans. “Our filing will not affect our efforts on the project.”

To end the isolation and invisibility that jeopardize the health and well being of LGBT seniors, openhouse is building housing, in addition to the services and community programs it already offers, for LGBT older adults. In April 2008, AF Evans and openhouse received entitlement from the City of San Francisco to develop the 55 Laguna Street site, including 88 or more units of affordable senior housing.

“This unprecedented economic crisis makes affordable housing and support services for LGBT seniors all the more urgent and necessary,” continued Kilbourn. “Working together with AF Evans, the City and with continued community support, we are more committed than ever to building 55 Laguna and ensuring that LGBT seniors are able to age with dignity and grace in the place they call home.”

Since receiving entitlement, the City, AF Evans and openhouse have been working together to move the project forward and secure the necessary financial backing.

“We will continue to look for and select a well capitalized development partner,” said Evans. “Several such potential partners who are looking beyond the current economic downturn have expressed strong interest in the project. There is nothing to stop us from continuing this process and we fully intend to do so.”

Founded in 1998, openhouse is building housing, services and community to end the isolation and invisibility that jeopardize the health and well being of LGBT older adults.

Founded in 1977, AF Evans has developed more than 10,000 housing units across a variety of product types, including low-income, mixed-income, and market-rate housing in for-sale and rental multi-family properties; urban mixed-use projects; and service-enriched living environments for seniors.

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