We are developing new nonprofit-owned models of development and financing to help communities close the housing gap.
OVERVIEW
Community Solutions is pioneering models that can help communities close the housing gaps that stand in the way of achieving functional zero for homelessness. In the U.S., there is a shortage of available affordable housing for our most low-income renters. Across the country, we are delivering new housing models that revolutionize the way affordable and supportive housing are developed. By combining nonprofit ownership with flexible financing through impact capital, we are bringing new housing units into the system in a much faster, cost-efficient, and flexible way. Data gathered by Built for Zero communities are guiding these efforts to ensure housing solutions are targeted to the specific challenges within those local markets.
Additionally, we manage all of our projects through the “property management plus” model, which applies the best practices of supportive housing in traditional residential projects. We apply this innovative approach to housing development across a variety of project types:
- Acquisition and repositioning of existing multifamily buildings
- New construction of multifamily and scattered site housing
- Implementation of community land trusts
- Development of community-based projects that strengthen housing systems
- Design and implementation of policy solutions to increase housing supply
The Challenge
From Built for Zero data, we know that access to rental apartments is the major barrier to ending veteran homelessness in many places. Traditional methods of creating affordable units take too long to close the housing gap.
Finishing the job of ending homelessness will require increased access to homes, particularly in markets with rapidly increasing rents.
Our Approach
We’ve pioneered new, faster methods to bring affordable housing online for people experiencing homelessness. By using social impact investment, we’ve demonstrated a replicable way to finance and operate these residences to ensure every veteran has a safe, secure home.
Using these methods, we aim to create affordable housing in Built for Zero communities to help end homelessness for target populations.
Pillars of the social impact investment real estate model
Investors who are interested in social impact beyond making a return on their money, instead of financing through Low Income Housing Tax Credits, which can take years
Ownership by national or local nonprofits with shared goals, which are not incentivized to maximize the profit of the property
Properties connected to the housing system so that housing is prioritized for people experiencing homelessness who are most in need
An enhanced property management model that offers support, community resources, and other services that tenants may need to stay stably housed
Project Portfolio
Santa Fe Suites
Santa Fe partnered with Community Solutions to purchase a hotel to provide more than 120 people a safe place to live, while accelerating the city’s efforts to end homelessness in the process.
Centra Villa
Centra Villa is a 132-unit affordable housing development funded using a housing model that leverages social impact capital to create permanent, supportive housing for veterans experiencing homelessness.
Swift Factory
Swift Factory, a former gold leaf manufacturing center located at the heart North Hartford, has been transformed into a vibrant hub for entrepreneurship, training, learning and community engagement.
“The current system for delivering affordable housing is too expensive, inflexible, and slow to meet the needs of rapidly growing communities. The social-impact investment model that we pioneered solves for these challenges in a way that can be replicated by nearly any community.”
Dave Foster, Principal and head of Real Estate at Community Solutions
