Irvine, CA (PRWEB) August 10, 2013
Jamboree Housing Corporation, one of Californias largest community development organizations that specializes in affordable housing, is the newest California member to join the Housing Partnership Network, a collaborative of the nation’s leading housing and community development nonprofits. The Housing Partnership Network uses four interconnected strategies peer exchange, innovation, social enterprise and policy to help people with low- to moderate- incomes access affordable housing and thriving communities that offer economic opportunity and enhanced quality of life. The Networks cooperative enterprise leverages the expertise and capacity of member organizations that are deeply engaged in all aspects of the Networks business operations to advance the affordable housing industry through partnerships with member organizations, the business sector, government and philanthropic institutions.
Headquartered in Irvine, CA, Jamboree currently has about $ 88 million in affordable housing and workforce housing projects in its development pipeline and an asset portfolio with a market value of $ 1 billion that includes the development of and/or ownership interest in more than 6,900 homes in more than 70 California communities for working families, seniors and people with special needs.
We are honored to be Californias newest member of the Housing Partnership Network and look forward to being involved in the Networks national programs and initiatives which will be of significant value for advancing our work in the development of affordable housing, said Laura Archuleta, Jamboree president. One of our business strategies is to expand our knowledge and operational horizons to a national scale and the Housing Partnership Network is an effective avenue for us to achieve that goal.
Headquartered in Boston, the Network has been built by industry leaders who serve on affiliate boards that govern Housing Partnership Networks enterprises. Nearly half of the Networks staff held senior positions at member organizations before joining the Network and the board of directors is comprised of senior leadership of these organizations. The Networks common relationships create a culture of shared values, trust and collaboration.
One of Housing Partnership Networks more significant activities in 2013 is the launch of the newly formed Housing Partnership Equity Trust, a pioneering new approach to acquiring safe, decent and affordable housing. The trust has raised $ 100 million from Citi, Morgan Stanley, Prudential Financial, Inc., the John D. and Catherine T. MacArthur Foundation, and the Ford Foundation, and has started investing in multifamily properties.
The Housing Partnership Equity Trust was formed as a social-purpose real estate investment trust (REIT), sponsored and operated by the Housing Partnership Network. The Housing Partnership Equity Trust will provide a ready source of long-term, low-cost capital, enabling mission-driven nonprofits to quickly and efficiently acquire apartment buildings that provide quality homes for families, seniors and others with modest incomes. The Network also has an international reach. Since 2003, the Housing Partnership Network has sponsored historic leadership exchanges among the CEOs of 45 top housing nonprofits in the United States, England and Canada. Bilateral conferences among practitioners were held in London and Washington, D.C. and were expanded to a trilateral exchange involving major Canadian nonprofits in Toronto. Through this Exchange, HPN has established relationships with practitioners and policy-makers from other countries throughout Europe. The international initiative now formalized with a steering committee comprised of three representatives from each country recently held a meeting in Berlin that focused on energy efficient building, retrofitting and operations.
Founded in 1990, Irvine, CA-headquartered Jamboree Housing Corporation is an award-winning, nonprofit community development company that develops, acquires, renovates and manages permanently affordable rental and ownership housing throughout California for working families, seniors and people with special needs. HOMES, Inc. and Housing with HEART are 501(c)(3) organizations and comprise Jamborees Resident Services Group. A leading nonprofit developer, Jamboree is committed to sustaining excellence with high quality affordable housing that is good for the environment, the economy and local communities. It currently has about $ 88 million in affordable housing projects in its development pipeline and an asset portfolio with a market value of $ 1 billion that includes the development of and/or ownership interest in more than 6,900 homes in more than 70 California communities. Currently, Housing with HEART programs and services that foster learning, health and community building are offered at 35 Jamboree communities with designated staff at each location. For more information, go to http://www.jamboreehousing.com .