Addressing the Veteran Affordable Housing Crisis

In just 3 short years, our Patriot Housing Initiative has helped place over 650 Veterans with clean, safe, and affordable permanent housing based on “real-life” terms, and has established the new standard for Veteran housing.

On any night in January 2018, nearly 40,000 Veterans experienced homelessness in the U.S., accounting for just under 9% of all homeless adults, according to the United States Department of Housing and Urban Development (HUD). Federal rental assistance such as Housing Choice Vouchers is highly effective at enabling low-income Veterans to afford stable housing, studies show.But those eligible — nearly all severely cost- burdened Veterans— don’t receive assistance due to funding restrictions or are unable or simply unmotivated to participate in supportive services.

Veterans that do receive assistance and their Veteran Housing Advocates often face numerous barriers to housing access (e.g., difficult procedures, communication break down between Service Providers and Property Owners, lack of affordable and adequate housing stock) and housing maintenance (e.g., program rules, access to resources). Moreover, fierce rental demand across the income spectrum and insufficient funding for rental subsidies and services are putting Veterans at risk.

Simply put— Affordable Housing is Out of Reach for most.

However, evidence shows that providing homeless Veterans with housing and services based on practical conditions lead to housing stability and improved outcomes in the long term.Implementing low-barriers to entry and supplementing local programs empower Veterans and their Providers and supports the path out of chronic homelessness.

PSG has spent several years collaborating with Veteran Service Organizations to identify Veteran needs and the obstacles that typically derail housing access.Streamlining the application process and fostering a Veteran- friendly housing environment built upon support, trust and belief in Veterans, purposeful, measurable, and positive social impact thrives in our communities across America.

PSG’s Current Affordable Multifamily Portfolio

Patriot Services Group has two separate housing components – a) Our “Owned” multifamily portfolio, and b) Our Veteran Placement Joint Venture properties where we place Veterans into communities owned by others.

At the present time, the PSG “Owned” Portfolio is made up of 1,549 units of multifamily property consisting of five (5) communities in four (4) states, with current values approaching $140MM.  Each of these communities are recognized as “Affordable”, and are guaranteed to remain so for the next fifteen years due to the Land Use Restrictions placed on them by the bond financing.

Those projects are as follows:

The Cove at NOLA, a 300-unit property in New Orleans, Louisiana;

The Rubix, a 236-unit property in Las Vegas, Nevada;

Prairie View, a 334-unit property in Woodstock, Illinois;

Timber Oaks, a 235-unit property in Ingleside, Illinois;

Topaz Villas, a 444-unit property in Jacksonville, Florida;

Along with providing permanent housing into our own communities, Patriot Service Group has established agreements with other multifamily property owners across the nation to place Veterans into their locations. At the present time, our Vet Placement Program has enrolled eighteen (18) communities in five (5) states totaling in excess of 5,600 units offering availability to housing for Veterans in those locations.

Here are our Veteran Placement Communities:

• Village at Greenfield, a 429-unit community in Wilmington, North Carolina;
• Arlay Point, a 640-unit community in Norfolk, Virginia
• Waters at Westchase, a 246-unit community in Houston, Texas
• The Springs at 1100, a 232-unit community in Kileen, Texas
• New Horizon, a 904-unit community in Memphis, Tennessee;
• Heronview, a 96-unit community in Sterling, Virginia;
• Hawks Landing, a 50-unit community in Ruckersville, Virginia;
• Mountain Laurel Manor II, a 48-unit community in Stauton, Virginia;
• Village Green, a 32-unit community in Glouster, Virginia;
• The Academy, a 16-unit community in West Point, Virginia;
• Forest Park, a 284-unit community in New Orleans, Louisiana;
• Walnut Square, a 209-unit community in New Orleans, Louisiana;
• Carmel Brook, a 584-unit community in New Orleans, Louisiana;
• Carmel Spring, a 400-unit community in New Orleans, Louisiana;
• Laguna Creek, a 216-unit community in New Orleans, Louisiana;
• Laguna Reserve, a 348-unit community in New Orleans, Louisiana;
• Laguna Run, a 442-unit community in New Orleans, Louisiana;
• Orwood Creek, a 442-unit community in New Orleans, Louisiana;

By setting a target of 20% of each community for our Vets, PSG is making a significant impact reducing the number of homeless veterans on America’s streets and shelters.By providing additional counseling and resources to them, the Veteran community is greatly improved.