Nonprofit Group to Build 1,000 Units for Homeless

A press release from PATH Ventures, a nonprofit housing development agency, announced Thursday that the organization will introduce new housing models.

PATH Ventures is located in Los Angeles. Their goal is to introduce 1,000 new units of permanent affordable housing over the next five years. As of now, the group has 120 housing units in development.

The project involves several active and retired community leaders, including John Molloy, the retired CEO of the Community Redevelopment Agency of Los Angeles, and Harreld Adams, the former CEO of Los Angeles Homeless Services Authority (LAHSA). They are a part of the Board of Directors at PATH Ventures.

Los Angeles City Council President Eric Garcetti said, "Los Angeles needs housing developers who will bring innovation and entrepreneurship to address our housing crisis. I'm excited about the road that PATH Ventures is going to take us down."

Shane Murphy Goldsmith, the former Senior Housing Legislative Deputy for Councilmember Garcetti, was recently appointed Executive Director by PATH Venture's board. Garcetti agrees with the decision, saying, "Shane Goldsmith has been a trusted advisor and a friend to me for many years. Her knowledge of housing policy is only matched by her passion for ending homelessness. I'm confident that her leadership will help PATH Ventures really make a difference."

PATH Ventures Board President and Deputy City Attorney of Los Angeles Julie Downey also agrees. "To build 1,000 units of housing over the next five years is a hefty goal," said Downey. "I am confident that Ms. Goldsmith's extensive housing and homelessness experience combined with her background in policy will enable her to provide results-oriented leadership to lead the PATH Ventures team in the right direction."

CEO Joel John Roberts of PATH Partners, the parent company of PATH Ventures, says "we are grateful to have such extensive leadership at PATH Ventures. The significant lack of affordable housing and the overwhelming number of people who are homeless in Los Angeles County calls for more leadership in this area."

PATH Venture's specific housing models are varied, with Step Housing, Villa, and Direct Housing models. According to the press release, Step Housing models are developments that combine both permanent and affordable housing units. Villas contain housing for homeless, seniors, youth, and adults. The press release defines Direct Housing as "housing that provides immediate entry into permanent housing through a subsidized leasing program."

According to the L.A. Almanac, the largest percentages of homeless are in South Los Angeles and Metro Los Angeles. Of all the homeless, 25% are mentally ill and 33%-66% have substance abuse problems. 48% of them graduated from high school and 32% hold at lease a bachelor's degree.

Sources:

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-19-2007/0004629257&EDATE=

http://www.laalmanac.com/social/so14.htm