ANDP Loan Fund finances effort to support vulnerable young adults
Pictured above, this home on James P. Brawly is one of seven homes constructed by Quest Homes and Habitat for Humanity Atlanta, financed by the ANDP Loan Fund.
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The ANDP Loan Fund recently provided mini-permanent financing to Quest Community Development Organization to develop seven single-family homes in the Vine City neighborhood of Atlanta. The homes will provide affordable rental housing through a partner organization and master lease to young adults aging out of the foster care system.
The Vine City community has long been plagued by high rates of unemployment, housing vacancy, crime, and economic stagnation. This blight has persisted despite its proximity to many of Atlanta’s major assets, including the newly opened Mercedes-Benz Stadium and other downtown attractions. Today, a number of initiatives are underway by the City of Atlanta's Invest Atlanta, Westside Future Fund, ANDP, Quest and others to address these concerns.
The financing provided allowed Quest to build newly constructed 3-bedroom houses with common kitchens and 2 ½ baths. The houses have been master leased to Chris 180, a local nonprofit social services organization founded in 1981 to meet the mental health and physical needs of both foster children and former foster children in the Atlanta metro region. In addition, the homes were constructed in partnership with Atlanta Habitat for Humanity, leveraging their construction model using volunteers and in-kind contributions.
In total, the project produced seven newly constructed units of affordable housing, totaling 21 new beds, for a severely challenged population of young adults who have aged out of the foster-care system and the support that it offers. This population is a one with unique challenges that Chris 180, has considerable experience with addressing. Additionally, as Chris 180 has expanded to include significant behavioral health counseling and family services these houses will also be available to those severely distressed and housing challenged young families.
This loan was one of the first long-term loans in ANDP’s portfolio and represented an important growth of its support of community development organizations in Atlanta. By specifically working with Quest in Vine City and with Chris 180, ANDP was able to support the work of strong partners, building capacity and helping other nonprofits create stable, community-supporting assets.
To learn more about financing available for affordable housing and community development, please visit the ANDP Loan Fund.