HomeMy WebLinkAboutReport - Mail Packet - 5/22/2018 - Letter From Darin Atteberry Re: Housing Catalyst 2017 Year In ReviewBuilding Community.
Inspiring Change.
Housing Catalyst transforms neighborhoods while
providing stable homes for families. We know
building a better life and pursuing opportunity
begins with having a place to live, and Housing
Catalyst has provided thousands of Fort Collins
families with affordable homes since 1971. We
pride ourselves on being a mission-driven real
estate developer at the leading edge of affordable
housing, forging public-private partnerships to
build a stronger community.
The demand for housing that is affordable is higher than ever,
with only 3% local rental vacancy rates. Investing in affordable
housing has numerous benefits for the local economy — it
creates jobs, boosts family incomes and encourages business
growth. As Fort Collins’ most established affordable housing
developer, Housing Catalyst is actively moving the region
forward with healthy communities that offer more than just a
place to live. We work to create communities built on a sense
of pride and belonging while also enriching neighborhoods
with inspiring designs and amenities.
Highlight of 2017:
Village on Redwood
Housing Catalyst’s newest development, Village on Redwood,
opened in May 2017, bringing 72 affordable apartments to north
Fort Collins. One feature of this vibrant community is a new city
natural area on its west border, created in partnership with the
City of Fort Collins. This is the first residential community in Fort
Collins to include a Bike Share station.
This beautiful development has lovely, park-like
grounds, a welcoming community clubhouse with
a fitness room, a large playground and plenty of
communal spaces for residents to enjoy. Village
on Redwood was built with durable, sustainable
materials and an emphasis on energy efficiency.
COMMUNITY
REPORT2017
1,160+
families assisted with housing vouchers
2017 A GLANCE
$166M
in owned and
managed assets
AA-
Standard & Poor’s
Rating
283 families supported
through JumpStart self-sufficiency program
96 new apartments
in development
1,237
local residences owned
and managed by Villages
AWARD-WINNING
developments and services:
Impact Award
Influence Category for Redtail Ponds, Colorado Urban Land Institute
Award of Merit
Rebranding a Housing Authority, National Association of Housing
and Redevelopment Officials
Certificate of Achievement for Excellence in Financial Reporting
Government Finance Officers Association
High Performer designation
U.S. Department of Housing and Urban Development
Healthy Business Leader certification
Health Links
12%
seniors
21% individuals
with disabilities
37%
children
4,000+
INDIVIDUALS SERVED ANNUALLY
Building Sustainable Community Assets
• Village on Horsetooth commenced construction on 96 new apartments
• Village on Shields began a major renovation project of 285 apartments
• Village on Redwood construction completed, providing 72 new affordable apartments
• Capital improvements completed throughout property portfolio
Strengthening Our Community
• Villages & JumpStart hosted a summer celebration and resource fair for more than 350 residents
• Redtail Connect event linked Redtail Ponds residents with more than a dozen health care resources
• Redtail Ponds exceeded previous housing retention rate: 97% stably housed since opening
• JumpStart enrolled 41 new families and celebrated the graduation of 18 families
• Partnerships provided new supportive housing for 10 homeless or near homeless
families at Housing Catalyst properties
Advancing Our Vision
• Villages created new property marketing materials for prospective residents
• Housing Catalyst implemented online payment system for residents
• Villages launched a new website and resident portal for improved marketing and
resident communication
MULBERRY ST.
COLLEGE AVE.
COWAN ST.
S. LEMAY AVE.
LINDEN ST.
REDWOOD ST.
STANFORD RD.
LEISURE DR.
SHIELDS ST.
S. BRYAN AVE. S. BRYAN AVE.
W. PLUM ST.
W. ELIZABETH ST.
HORSETOOTH RD.
HARMONY RD.
SWALLOW RD.
PROSPECT RD.
DRAKE RD.
FAIRWAY LN.
TAFT HILL RD.
IMPALA CIR.
MOUNTAIN AVE.
RIVERSIDE AVE.
W. VINE DR.
E. VINE DR.
CONIFER ST.
MAX LINE
Colorado State
University
City Park
287
Downtown
Ft. Collins
Villages Leasing Center
Rocky Mountain High School
Poudre High
School
M
Centennial High School
COMMUNITY MAP
2017 FINANCIALS
total liabilities
88,525,709
1 2 3 4
5
7
8
9
10
6
LIABILITIES
1 Housing Catalyst $1,579,140
2 Villages $2,178,183
3 Wellington $24,518
4 Village on Elizabeth $4,153,023
5 Village on Stanford $5,372,667
6 Village on Plum $10,854,141
7 Redtail Ponds $4,804,218
8 Village on Redwood $18,535,983
9 Village on Shields $34,915,629
10 Village on Horsetooth $6,108,207
REVENUES *
1 Grant $15,663,739
2 Rent $8,448,086
3 Other $18,551,431
total revenues
$42,663,256
1
3
2
total expenses
$25,521,680
1
2
3
5 4
7
6
EXPENSES *
1 Housing Assistance $9,284,677
2 Administrative $6,061,853
3 Maintenance $3,178,052
4 Utilities $834,756
5 Depreciation $3,266,721
6 Interest $1,940,888
7 Other $954,733
ASSETS
1 Housing Catalyst $35,566,461
2 Villages $18,896,364
3 Wellington $714,033
4 Village on Elizabeth $4,022,884
5 Village on Stanford $7,672,370
6 Village on Plum $14,653,793
7 Redtail Ponds $11,487,991
8 Village on Redwood $26,430,183
9 Village on Shields $38,190,844
10 Village on Horsetooth $7,987,066
total assets
$165,621,989
1 2
3
4
5
7
8
9
10
6
*for all owned and managed properties
Unaudited Financial Data
"Other" includes $13.7m gain on property sales which
was reinvested into new construction & rehab projects.