When addressing the housing crisis in the Bay Area, one thing is clear; we need to work together. Local governments, affordable housing developers, and CDFIs all must play a part in addressing what is quickly becoming the most significant challenge facing our Bay Area community. Those most essential to the fight are devoted advocates and community development leaders preparing to bridge these institutions and lead the fight against homelessness.
Since 1988, LISC Bay Area has been key to developing this talent as the Housing Development Training Institute (HDTI) sponsor, a comprehensive program creating a pipeline of skilled housing development leaders. To date, this program has seen through over 500 participants representing community development organizations throughout the state and has been critical to supporting local housing leadership.
Today we highlight the influence of HDTI with our partner Jamboree Housing Corporation (Jamboree). Jamboree began with a single dream in one city: Build quality housing people can afford. Today, that dream is an expanding vision across the state of California with a corporate strategy that generates jobs, promotes healthy living, and creates supportive housing. Jamboree builds stronger communities. From their first $1 million federal grant to a portfolio with a value of more than $3.2 billion, Jamboree is changing perceptions of affordable housing – a vision that began more than 30 years ago. A need that is greater than ever in today’s housing crisis.
For this post, we connected with a new HDTI graduate, Development Associate Daniel Valverde. We asked Daniel a series of questions about his experience in the program:
How did HDTI change your approach to affordable housing development?
HDTI has given me invaluable resources and insight on how to approach developing affordable housing. Whether it is going through the entitlement process, preparing a funding application, negotiating with public and private lenders. Additionally, how we understand the general contractors' contracts and other consultants to make an affordable housing project happen. Also getting exposed to the technical pieces.
What types of affordable housing projects are you working on now?
I am currently assisting on two PSH properties. One is a (46) unit newly built development located in Citrus Heights (approx 20 minutes away from Sacramento) and a (117) unit hotel conversion to residential in North Natomas in the city of Sacramento. The hotel conversion project contains (10) units set-aside for Transitional units. Respectively, both contain No Place like Home and Homekey funding. Another property is a (60) unit newly built development intended for large families located in West Sacramento. (6) units will be set-aside for people formerly homeless. It contains MHP and Accelerator funding.
How did HDTI support you in making Jamboree Housing Corporation a better organization?
I think it has supported me to understand the "whys", especially being in development for a few years now. Additionally, it has given me the foresight and resources to think ahead in the process of the development projects. Also, where to find my questions within the agreements we make with our public and private lenders, consultants, and what is relatively available on the internet. Again, the technical pieces too!
What advice would you have for new participants?
I highly encourage anyone who has started their APM/PM journey in development and sees themselves staying within the affordable housing space to apply. There will be many others who are going through the same process to understand the complexity that it takes get an affordable housing project off the ground and leased-up. Many with little-to-more experience, but all willing to help one another teach and learn. I've made a strong connection with many of my HDTI peers in a very short-time and I'm sure you will too!
How did HDTI support you in making Sacramento a better place to live?
Making sure people are housed and affordable housing is located in amenity rich resource areas. Also understanding that every neighborhood and cities have different needs, so there is a no fit all for affordable housing development. One needs to consider many things, building type, population served, services, operations, financing, etc.
As we continue to work together to solve the housing crisis, we hope more of you will join us in our fight to create a more equitable and resilient Bay Area for all. This program was made possible through the generosity of Merritt Community Capital Corporation, funding HDTI through their Commitment to California initiative. Daniel is also a Merritt Scholar as part of Commitment to California!