Veterans Day is a holiday honoring those who have served our country. Celebrated on November 11th in honor of the eleventh hour of the eleventh day of the eleventh month of 1918 that signified the end of World War I, the holiday provides an opportunity to pay tribute to all American veterans. At Cinnaire, we are committed to creating safe, affordable places to call home for all who have served our country.
More than 37,000 veterans are homeless in the United States. The Low Income Housing Tax Credit (LIHTC) is one key solution to help address the growing need for affordable homes for our nation’s heroes. In collaboration with the U.S. Department of Veterans Affairs (VA) and our partners, Cinnaire has invested in the development of housing designed specifically for veterans throughout our footprint. These investments have contributed to the overall reduction in Veteran homelessness, serving as a model for permanent supportive housing for veterans and receiving national recognition for improving quality of life for veterans.
We join the Affordable Housing Tax Credit Coalition (AHTCC) to advocate on behalf of veterans, to share their stories and to seek support from members of Congress to expand and strengthen the LIHTC.
The first affordable housing community for veterans in Michigan, Silver Star Apartments opened its doors to provide veterans a safe, secure, and supportive place to call home. Comprised of two phases, Silver Star provides 76 affordable homes in Battle Creek adjacent to the Battle Creek VA Medical Center. The property includes a basketball court, library and computer center, workout rooms, art classrooms, counseling offices, and a metal and woodshed. To make this development possible, Cinnaire facilitated the provision of LIHTC. In response to the significant need for affordable housing for veterans, Phase III is currently being pursued. Click here to learn more about Silver Star Apartments.
Lincoln Apartments serve 75 of Indianapolis’ formerly homeless veterans. The apartments are located at a former iron foundry, which had sat vacant since 1962 when the iron works foundry closed. In order to realize financing sources for the $11.6 million development, Lincoln partners had to engage private, public and nonprofit entities. The Indiana Housing Development Authority (IHCDA) awarded a LIHTC allocation and Cinnaire’s $11 million equity investment provided the financing to make the vision of Lincoln Apartments a reality. Click here to learn more about Lincoln Apartments.
Piquette Square for Veterans is a 150-unit apartment project in Detroit funded by the LIHTC designed to house and care for homeless veterans. Developed by Southwest Solutions, Piquette Square was financed through a variety of public and private resources. Piquette Square offers mental health counseling, substance abuse treatment, on-site job training, computer labs, educational programs and other supportive services to help homeless veterans develop healthy and independent living skills. Click here to learn more about Piquette Square.
Located in Marion, IN, Chambers Park Apartments provides 50 units of affordable housing for formerly homeless veterans. Developed by Cinnaire Solutions, the development was made possible through a LIHTC equity investment from Cinnaire and allocated by IHCDA. In addition to Cinnaire’s LIHTC investment, financing partners include IHCDA, the Department of Housing and Urban Development (HUD), the Federal Home Loan Bank of Indianapolis and the National Bank of Indiana. Click here to learn more about Chambers Park Apartments.
Northwest Veterans Village is an affordable apartment community in Gary, IN. The $10 million project was made possible through a LIHTC award from IHCDA and syndicated through Cinnaire, resulting in $8.7 million in equity. A cooperative partnership with Cinnaire, property manager Continental Management and the VA provides residents on-site coordinated support services and ongoing care. The VA provides case management while community colleges and universities provide financial counseling and education to increase job-readiness and daily living skills for residents. Click here to learn more about Northwest Indiana Veterans Village.