Gardner Capital Development Awarded Colorado Low Income Housing Tax Credits for Affordable Housing Targeted to Homeless Youth
The 40-unit supportive housing community is a collaboration between Gardner Capital Development, Attention Homes, and the First United Methodist Church of Boulder
BOULDER, Colo., Sept. 27, 2016 /PRNewswire/ -- The Colorado Housing and Finance Authority has awarded a reservation of 9 percent low-income housing tax credits to Gardner Capital Development for the creation of a 40-unit affordable housing community targeted to transition-age youth (age 18-24 years at time of entry) who are experiencing homelessness, aging out of foster care, and are victims of trauma, abuse, family conflict, and neglect. The project is the first of its kind awarded tax credits in Colorado and the first serving homeless youth in Boulder.
The Attention Homes project was developed through the Pathways Home Colorado Supportive Housing Toolkit, a capacity building program created by the State of Colorado and CHFA in partnership with LeBeau Development in 2014 to increase development of high-quality supportive housing projects.
"By providing young adults experiencing homelessness with affordable housing and access to wrap-around services, Attention Homes is reducing the use of costly emergency interventions, meeting a critical need, and helping to make homelessness history," said Gov. John Hickenlooper. "This project represents the best of what can be accomplished when a community comes together to implement a thoughtful, outcome-driven solution to one of our most arduous social issues."
The project, which will be located at 1440 Pine Street in downtown Boulder, is aligned with the U.S. Interagency Council on Homelessness' goal to end youth homelessness by 2020, and the Boulder County 10-Year Plan To End Homelessness. For homeless young people with complex challenges and needs, non-time-limited supportive housing has been identified as a critical component of a community's ability to serve their most vulnerable. In addition to rental apartments, residents will receive trauma-informed, client-centered supportive services, job and life-skills training, as well as employment and educational opportunities on-site.
For the past 50 years, Attention Homes has consistently met the needs of youth in crisis in Boulder.
"Having served over nine thousand youth between the ages of 12-24, we know that community-based interventions, stable housing, and age appropriate supports help youth transition to self-sufficiency," says Claire Clurman, Attention Homes' Executive Director. "This project will provide residents with the time, flexibility, and client-centered case management they need in order to heal, reach their full potential, and move on towards independence."
Currently a surface parking lot, the site is owned by the First United Methodist Church of Boulder, a longstanding partner and original founder of Attention Homes. The church is donating the land for the development. The site is ideally located near multiple transportation options, employment and educational opportunities, and the numerous cultural and recreational resources and amenities of downtown Boulder.
"The Attention Homes project represents our commitment to create transformational outcomes through housing," said Michael Gardner, principal and CEO, Gardner Capital Development. "This development not only helps provide critical housing needs to Boulder's most vulnerable citizens, but will also provide long-term support and services to break the cycle of chronic adult homelessness and achieve self-sufficiency in their lives."
Construction will begin in the winter of 2017-18, with completion and occupancy set for 2019. All eligible residents must income-qualify at 60 percent or below the area median income for Boulder County (approximately $39,840 for a one-person household).
To learn more about the project, visit: www.boulderhomelessyouth.com.
About Attention Homes
Now in its 50th year, Attention Homes has provided shelter, structure, and access to crucial services to over 9,000 young adults in crisis, 750 of them in 2015. While the organization's programming has evolved to meet the ever-changing needs of the community, Attention Homes' mission has been steadfast: to assist homeless and displaced youth and young adults on their journey to becoming stable, independent members of the community and, ultimately, to achieve their fullest potential. According to Attention Homes, approximately 168 youth ages 12-24 are homeless in Boulder County on any given night; 35 percent of homeless youth identify as LGBTQ; 50 percent of chronically homeless adults were homeless as transition age youth; 100 percent of homeless youth have experienced trauma, abuse and neglect; and many suffer from mental health/stress related disorders or substance abuse issues, and live in poverty.
About Gardner Capital
Gardner Capital is an affordable housing and renewable energy tax credit development, syndication, and investment company with primary regional offices located in St. Louis, Dallas, San Francisco, Atlanta, and Springfield, Missouri. Since 1992, Gardner Capital has invested more than two billion dollars of equity in affordable housing alone. Renewable energy development and investment has been the more recent addition to the Gardner Capital operating portfolio, bringing hundreds of megawatts of solar projects online across the United States. The principals, Mark Gardner and Michael Gardner, continue to expand the company's national footprint in affordable housing and renewable energy with multiple offices across the United States. Visit www.gardnercapital.com for more information.
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SOURCE Gardner Capital
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