Five-year-old Community Development Partners (CDP) is charging full speed ahead to reach 1,000 units in its portfolio this year.
“It’s a big step for us. We started from zero five years ago,” says Eric Paine, CEO of the Newport Beach, Calif.–based developer. “We have accomplished a good amount in that time, and we’re on track to get over that 1,000 threshold.”
Ranked No. 43 on the AHF 50 developers list, CDP started four affordable housing developments with almost 200 units last year. In 2017, it plans to complete five developments with over 300 units as well as acquire three projects with almost 400 units.
Over the last few years, Paine says the firm has evolved into being more mission driven. “We’re trying to take a deeper dive into the placemaking aspect and serving the neediest of populations and those with the most acute need for housing and continuum of care,” he adds.
CDP has two developments under construction that are helping to meet this mission as well as being outside the box.
It is converting a motel in Santa Ana, Calif., into a 72-unit permanent supportive housing project for people who have been chronically homeless. The Orchard will provide critical housing, services, a commercial kitchen, and a community garden.
In Vacaville, Calif., the developer is utilizing approximately 170 different shipping container modules to create a three-story building that will house veterans. Rocky Hill Vets will feature 39 mixed-income units that will serve veterans with families earning 60% of the area median income to formerly homeless veterans with Department of Housing and Urban Development-Veterans Affairs Supportive Housing vouchers.
In addition to California, CDP is active in Arizona, Nevada, and Oregon. In 2017, it plans to deepen its footprint as well as its work in Portland, Ore.
