Community Solutions, a nonprofit dedicated to ending homelessness, has announced the acquisition of a property in Jacksonville to accelerate community efforts to reduce veteran homelessness.
The acquisition marks the first step in a broader initiative to leverage a social impact financing model to introduce additional real estate assets within certain communities participating in Community Solutions’ Built for Zero initiative.
Built for Zero supports more than 100 communities across the country that are working to measurably and equitably end homelessness, using a data-driven, systems approach. This new model will be used to acquire housing that will help select large cities accelerate their journey toward functional zero, a milestone for measurably ending homelessness for a population.
The first acquisition is part of a proven social impact model to quickly close housing gaps and provide permanent, supportive housing as communities work to reach functional zero.
“Through our Built for Zero initiative, we work with communities that are proving it is possible to reduce homelessness when they harness a data-driven, systems-focused approach,” said David Foster, manager of the Community Solutions Large Cities Housing Fund. “In the course of working toward zero, many communities — particularly large cities with tight housing markets — are also needing the means to create permanently affordable housing in a way that is faster and more adaptable than many traditional approaches allow. Thanks to this social impact investment model, we will be able to help many large cities accelerate their progress, while continuing to scale a model that offers cities across the country a way to crack this critical challenge for ending homelessness.”
As of April 26, 192 veterans were on Jacksonville's real-time, by-name list. Of those veterans, 120 currently have a housing resource, such as a housing voucher or subsidy, and are looking for an available unit. However, there is not enough supply to move the qualified veterans into housing. Acquiring Caroline Village will help close that supply gap and provide local, permanent housing and wrap-around services.
“I am proud of the success we continue to have in working with the public, private and philanthropic sectors to reduce homelessness in Jacksonville,” said Jacksonville Mayor Lenny Curry.
Jacksonville and Community Solutions are in the process of closing on a second facility to continue to close the housing gap and end veteran homelessness.
