Permanent Housing Development
PATH Ventures is the arm of PATH that builds homes for clients. PATH Ventures is helping end homelessness by building affordable rental homes that provide homeless and low-income individuals and families with the support they need to succeed. We are working to have 1,000 apartments built, under construction, and/or funded by the end of 2015.
Prior to beginning a project, PATH Ventures works closely with local leaders, community members, businesses, faith-based organizations, and non-profits to identify the affordable housing and community development needs of the neighborhood. Communities are encouraged to get involved in the design and programming of our projects through public and private meetings, open houses, and direct dialogue. We are constantly reaching out to new communities who have a need for affordable housing and community development and feel that our model fits their community.
Our permanent supportive housing expertise, combined with our development partners’ experience, results in some of the strongest partnerships in the industry. We have partnered with a number of developers on our projects, including:
PATH Ventures is committed to providing highly effective supportive services to our residents. We have also focused on developing strong service partnerships with PATH, as well as with a number of mental health and health care providers, legal advocacy groups and faith-based organizations. Our service partnerships allow us to offer a full array of supportive services that our residents need to succeed.
We develop long-term relationships with qualified lenders who offer a variety of loan programs for affordable housing projects. Our projects require different types of loan products to finance our acquisition, pre-development and construction activities. Our projects also use short-term bridge financing along with permanent financing. Through our current projects, we have worked with:
A major component of our housing development capital comes from the federal Low-Income Housing Tax Credit program. The majority of our deals are financed through the 9% tax credit program California Tax Credit Allocation Committee; however, we also have the capacity to develop 4% tax credit and bond-financed deals.
We develop partnerships with tax credit investors to provide the equity necessary to develop our affordable and permanent supportive housing projects. To date, we have closed with:
In addition to equity investors, we also have partnerships with syndication companies who help us find qualified investors and broker the best affordable housing tax credits deals for our housing developments.