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The Process of Successful Development CARRFOUR SUPPORTIVE HOUSING The Process of Successful Development for Supportive Housing Communities Florida Supportive Housing Summit Creating Housing Solutions for All Orlando, Florida | September 24, 2019 The Process of Successful Development for Supportive Housing Communities Florida Housing Finance Corporation Orlando, Florida September 17, 2018 Stephanie Berman-Eisenberg
WHO IS CARRFOUR SUPPORTIVE HOUSING? Nonprofit organization established in 1993 by the Homeless Committee of the Greater Miami Chamber of Commerce. Develops, operates and manages innovative housing communities for individuals and families in need through a unique approach combining affordable housing with comprehensive, on-site supportive services. As the leading not-for-profit provider of supportive housing in Florida, Carrfour has supplied homes for more than 10,000 formerly homeless men, women and children. Who is Carrfour Supportive Housing? Nonprofit organization established in 1993 by the Homeless Committee of the Greater Miami Chamber of Commerce. Develops, operates and manages innovative housing communities for individuals and families in need through a unique approach combining affordable housing with comprehensive, on-site supportive services. As the leading not-for-profit provider of supportive housing in Florida, Carrfour has supplied homes for more than 10,000 formerly homeless men, women and children.
MISSION & VISION Carrfour’s mission and vision is to confront homelessness by developing affordable housing and providing supportive services as a pathway to self-sufficiency. We are guided by a vision where everyone has safe and decent housing and is self-reliant. Carrfour’s mission and vision is to confront homelessness by developing affordable housing and providing supportive services as a pathway to self-sufficiency. We are guided by a vision where everyone has safe and decent housing and is self-reliant.
Carrfour has raised and invested more than $300 million to serve more than 10,000 men, women and children in Miami-Dade County.
Those resources have allowed us to complete 21 communities Those resources have allowed us to complete 21 communities. Four additional communities are today in development.
CARRFOUR TODAY Develop and manage 1,850 affordable units. 800 are Permanent Supportive Housing (PSH) set aside for formerly homeless individuals and families. Currently serving 6,000 residents. Developing more than 200 new affordable housing units with not for profit partners in Melbourne, West Palm Beach and Broward. Carrfour today Has developed and manages 1,850 affordable units. 800 are Permanent Supportive Housing (PSH) set aside for formerly homeless individuals and families. Currently serving 6,000 residents. Developing more than 200 new affordable housing units with not for profit partners in Melbourne, West Palm Beach and Broward.
Examples of permanent supportive housing.
VILLA AURORA (LITTLE HAVANA, MIAMI) 76 apartments (efficiencies to four-bedroom). 39 reserved for formerly homeless families (PSH). 37 for low-income families earning less than 60% AMI. Supportive Services and Rental Assistance funded through CoC/HUD. Exercise room, computer room, large terraces. Miami-Dade County Library on ground floor. Carrfour’s main office on top floor. Long-term lease with Miami-Dade County. Villa Aurora in Miami’s Little Havana neighborhood 76 apartments (efficiencies to four-bedroom). 39 reserved for formerly homeless families (PSH). 37 for low-income families earning less than 60% AMI. Supportive Services and Rental Assistance funded through CoC/HUD. Exercise room, computer room, large terraces. Miami-Dade County Library on ground floor. Carrfour’s main office on top floor. Long-term lease with Miami-Dade County.
VILLA AURORA All supportive housing units have HUD SHP operating or rental assistance and supportive services funding. All homeless units at Villa Aurora have SHP operating and supportive services funding. 74% of the funds to develop Villa Aurora, just under $21 million, came from Tax Credit Equity. 11% came from SAIL. 8%, $2.1 million, came from the lease payment for the public library HOME provided more than $1.5 million U.S. HUD provided $400,000 Enterprise provided an additional $50,000.
VERDE GARDENS (HOMESTEAD) Built on site of former Homestead Air Force Base. 145 LEED-certified “green” town homes for formerly homeless families (two to four-bedroom). 22-acre organic farm which includes a produce nursery and an on-site public farmer’s market. Supportive services funded through CoC (110 units) and Project Based Section 8 (35). Site belongs to Miami-Dade County; Carrfour developed and operates. Verde Gardens was built on the site of the former Homestead Air Force Base in Homestead. 145 LEED-certified “green” town homes for formerly homeless families (two to four-bedroom). 22-acre organic farm which includes a produce nursery and an on-site public farmer’s market. Supportive services funded through CoC (110 units) and Project Based Section 8 (35). Site belongs to Miami-Dade County; Carrfour developed and operates.
HUD SHP operating subsidy and Project Based Section 8. VERDE GARDENS HUD SHP operating subsidy and Project Based Section 8. All supportive housing units have services funding from HUD SHP program. 110 units at Verde Gardens have U.S. HUD SHP operating subsidy; 35 have Project Based vouchers. 74% of the funds to develop Verde Gardens, $14.6 million, came from General Obligation Bonds 15% came from HOMES 6% came from Food & Beverage Tax funds HHAG provided 4% Grants provided another $155,000 in funding
BARBARA CAREY-SHULER MANOR (LIBERTY CITY, MIAMI) 100 apartments (efficiencies to four-bedroom). 50 units serving formerly homeless families (PSH). 50 units serving elderly residents and low-income families. Key Clubhouse and Operation Sacred Trust Veteran Assistance located on the first floor. Supportive services funded through operations. Project Based Section 8 and Project Based VASH. Amenities include exercise facility, multi-purpose community room, and parking garage. Barbara Carey-Shuler Manor is in the heart of Miami’s Liberty City neighborhood and is home to many formerly homeless Veterans. 100 apartments (efficiencies to four-bedroom). 50 units serving formerly homeless families (PSH). 50 units serving elderly residents and low-income families. Key Clubhouse and Operation Sacred Trust Veteran Assistance located on the first floor. Supportive services funded through operations. Project Based Section 8 and Project Based VASH. Amenities include exercise facility, multi-purpose community room, and parking garage.
BARBARA CAREY-SHULER MANOR $1.5 million operating reserve funded from capital sources to cover operating deficits. Project based VASH and Section 8. Supportive services funded by operating revenue. Shuler Manor has a $1.5 million operating reserve funded from capital sources to cover operating deficits, 20 project based VASH vouchers, and supportive services that are funded by operating revenues. 74% of the funds to develop Shuler Manor, $14.6 million, came from Surtax monies. $3 million from SAIL provided 15% of the funds 6%, $1.1 million, came from HOME funding. FHFC provided $750,000 TCEP provided $155,000
HOW TO DEVELOP A SUPPORTIVE HOUSING COMMUNITY
WHAT IS YOUR ROLE? Developer Property Manager Service Provider
Assembling Development Team Development Concept Assembling Development Team Funding Applications Underwriting Design and Permitting Financial Closings Construction
Which comes first, the concept or the funding for the opportunity? THE DEVELOPMENT CONCEPT Which comes first, the concept or the funding for the opportunity?
Who are you going to house? Where are you going to build? THE DEVELOPMENT CONCEPT Who are you going to house? Where are you going to build? How many units? Type of development?
Who are you going to house? THE DEVELOPMENT CONCEPT Who are you going to house? Balancing your vision with the funding opportunity
THE DEVELOPMENT CONCEPT Where are you going to build? Things to consider when selecting a site: The population you are going to serve Condition of site: appraisals, title search, survey, environmental reviews, zoning analysis, capital needs assessment Community support.
How many is too many units? THE DEVELOPMENT CONCEPT How many units? Is there a magic number? How many is too many units?
Acquisition/Rehabilitation New Construction THE DEVELOPMENT CONCEPT Type of Development Acquisition Only Acquisition/Rehabilitation New Construction
Assembling Development Team Development Concept Assembling Development Team Funding Applications Underwriting Design and Permitting Financial Closings Construction
Do you have the experience to develop on your own? PARTNERING VS. DEVELOPING ON YOUR OWN Do you have the experience to develop on your own? Do you have the financial capacity to develop on your own?
Important Factors in Choosing a Partner: PARTNERING VS. DEVELOPING ON YOUR OWN Important Factors in Choosing a Partner: Aligned missions, values and goals Reputation Political good will Experience Financial capacity
Clear Understanding of Roles and Responsibilities Risk vs. Reward PARTNERING VS. DEVELOPING ON YOUR OWN Clear Understanding of Roles and Responsibilities Risk vs. Reward
PARTNERSHIP TASK LIST
Financing Partners/Lenders Attorney ASSEMBLING YOUR DEVELOPMENT TEAM Developer Architect/Engineer General Contractor Financing Partners/Lenders Attorney
Assembling Development Team Development Concept Assembling Development Team Funding Applications Underwriting Design and Permitting Financial Closings Construction
UNDERWRITING
Dr. Alice Moore Apartments UNDERWRITING CHECKLIST Dr. Alice Moore Apartments
Assembling Development Team Development Concept Assembling Development Team Funding Applications Underwriting Design and Permitting Financial Closings Construction
Questions?
Stephanie Berman-Eisenberg President/CEO Carrfour Supportive Housing For more information: Stephanie Berman-Eisenberg President/CEO Carrfour Supportive Housing 1398 SW 1st Street, 12th Floor Miami, Florida 33135 305-371-8300 x1303 Email: sberman@carrfour.org Online: www.carrfour.org For more information: Stephanie Berman-Eisenberg President/CEO Carrfour Supportive Housing 1398 SW 1st Street, 12th Floor Miami, Florida 33135 305-371-8300 x1303 Email: sberman@carrfour.org Online: www.carrfour.org
Carrfour goes far beyond building housing. We build community.