The Meredian | Marin County

The Meredian Apartment building, a 99-apartment complex in San Rafael, will be preserved as affordable housing.

The property owners, the Tesseract Capital Group, received approval from the Bay Area Housing Finance Authority, or BAHFA, for the welfare tax exemption preservation program. Tessearact will get a tax break in exchange for the establishment of long-term affordability for tenants of the Meridian at 400 Canal St. The 400 Canal Tenants Union organized to stop evictions when Tesseract purchased the building, and then advocated for the use of the BAHFA preservation program.