Paul Fate 071210
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Transcript of Paul Fate 071210
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2010 Regional Forum on Workforce Housing Minneapolis, MN - July 12, 2010
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CommonBond builds stable homes, strong futures, and vibrant communities.
Mission
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Scale and Impact
Own and manage nearly 5,000 units in 100 housing communities
Serve 8,000 people with average household income of $14,000
Serve families, seniors & people with disabilities
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Core Competencies
Deep, diverse real estate development expertise
Full service property management Commitment to engaging, partnering with the
community More than housing model – Advantage Services
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Advantage Services – Core Programs
Youth: to excel academically Adults: to achieve economic self-
sufficiency Seniors/disabilities: to live
independently longer
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The need for workforce housing
Most jobs being generated in this economy fit this demographic
These are essential, vital workers for our community and economy
Stable, affordable housing is key to family and economic success
New housing application experience Wait list for 100 properties exceeds 5,000 names
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Saint Paul
Cathedral Hill Homes
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Downtown Saint Paul
Commerce Building
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St. Paul
Commerce Building - interior
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Plymouth
Vicksburg Commons
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Vicksburg Commons’ resident
Lonja and family
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Maplewood
Trails Edge Townhomes
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Trails Edge residents
Tereussell and family
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Key challenges and opportunities
Financing matters Location matters Green matters Preservation matters Public perception matters Rental has new standing Immigrant / refugee population growth