COST-DRIVEN MODEL TO ADDRESS THE CHRONIC HOMELESSNESS CHALLENGE Flya w a y Hom es
Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results - ALBERT EINSTEIN
STATS OF STATUS QUO SOLUTION There are 1,400 units of affordable and supportive housing due to open in the next year There are 10,000 units in total in the pipeline It takes over 3 years and costs over $550,000 per person housed to build one development
The FlyawayHomes Solution Developing Supportive Housing in 1/3 time @ 1/3 the cost
https://youtu.be/q5UR4FXu6zo
$3.85mm Total Cost to Develop 32 Formerly Homeless Residents 820 W Colden Ave (& 1 resident building manager) 9 months Total Active Construction Time 4.34% Unlevered Yield to Investors (after expenses)
$4. 5mm Total Cost to Develop 32 Formerly Homeless Residents 837 W 82 nd Street (& 1 resident building manager) 9 months Total Est Active Construction Time 4.52% Unlevered Yield to Investors (after expenses)
FUTURE DEVELOPMENTS • 20,000 SQ FT LOTS • 40 2-BEDROOM/2-BATH UNITS • HOUSING 80 PEOPLE • $165,000 PER BED • TOTAL DEVELOPMENT COST • $13 MM • TARGETED YIELD TO INVESTORS • 4-5%
Flya w a y Hom es W HO W E A R E A PRIVATE PERMANENT SUPPORTIVE HOUSING DEVELOPER • MODULAR CONSTRUCTION • SHARED HOUSING LAYOUT • REPLICABLE AND SCALABLE MODEL • SMALLER DEVELOPMENTS, BUILT BY RIGHT • FUNDED WITH PRIVATE INVETMENT DOLLARS
HO W W E HOUSE PEOPLE TENANT IDENTIFICATION RENT/SUBSIDY SOURCING TRANSITION SUPPORT ONGOING SUPPORTIVE SERVICES
The People C o n c e r n W HO W E A R E 92% OF THE PEOPLE SUPPORTED BY THE PEOPLE CONCERN ARE NEVER HOMELESS AGAIN $9,000 COST OF MOVING SOMEONE FROM THE STREET TO HOUSING $6,000 ANNUALLY TO PROVIDE ESSENTIAL SUPPORTIVE SERVICES
W HER E WE A R E G O I N G
OUR VISION Together, we could build enough FlyawayHomes developments to solve chronic homelessness by 2028
C O N C LUS IO N HOMES (WITH SUPPORTIVE SERVICES) SOLVE (CHRONIC) HOMELESSNESS
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