Canal Alliance Buys Four San Rafael Apartments

The nonprofit paid $1.675 million for four units at 1340-1342 Lincoln Ave to keep low-income families housed.

Updated on Nov. 1, 2026 in Philanthropy

Isometric editorial illustration of a low-rise apartment block in oxblood and teal with a rooftop array of solar panels, evoking affordable housing preservation. — Canal Alliance paid $1.675 million to buy four apartments at 1340-1342 Lincoln Ave in San Rafael, keeping low-income families housed. AI Illustration. Upload story photo >

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Canal Alliance purchased four apartments for $1.675 million in San Rafael, bringing its portfolio to 25 apartments. The acquisition was supported by a new rapid acquisition resource pool that received a $2 million loan from the San Francisco Foundation and $500,000 from a donor.

Why it matters

The purchase lets the nonprofit acquire existing housing before it is lost to market rates, prioritizing properties that already house low-income families. For San Rafael residents, it adds permanent affordable units in a city that has funded such efforts through its own trust fund.

Canal Alliance has spent about $4.8 million on 13 apartments since 2024, and the purchase price of $1.675 million covered four units at 1340-1342 Lincoln Ave. The source does not say how the nonprofit will fund the remaining roughly $10 million it is seeking for the rapid acquisition pool.

The players

Canal Alliance

A Marin County nonprofit focused on affordable housing and services for low-income families, which owns a growing portfolio of apartments.

San Francisco Foundation

A regional philanthropic foundation based in the Bay Area that provides grants and loans to community organizations.

The details

Canal Alliance used its new rapid acquisition resource pool, a flexible fund that lets the agency compete with other investors and close quickly. The nonprofit also owns Marin Villa Estates, a 12-apartment complex on Novato Street it acquired in 2002, and has installed solar panels with help from Grid Alternatives and the Marin Community Foundation.

2002: Canal Ministry purchased Marin Villa Estates, which later became part of Canal Alliance's holdings.
Since 2024: Canal Alliance has spent about $4.8 million on 13 apartments.
2028: Canal Alliance aims to reach 100 affordable residences.

Market Landscape

San Rafael's trust fund has contributed $450,000 over five years, and that money helped Canal Alliance acquire nine rental homes at 1400 Lincoln Ave. The nonprofit's rapid acquisition pool follows that same model of pairing public and philanthropic dollars to buy existing housing.

Renters in the four Lincoln Ave units and nearby properties may see their homes kept affordable as ownership shifts to a nonprofit. The purchase keeps existing low-income tenants housed, with future vacancies filled based on income.

The takeaway

Nonprofit acquisition of existing buildings can protect long-term affordability when flexible funds allow buyers to move quickly. Readers interested in local housing can track how Canal Alliance meets its 2028 goal of 100 affordable residences.