Month: August 2016

The power of giving

George Golden, resized for digitalGeorge Golden has been supporting CommonBond Communities for more than a decade.  His interest was initially piqued because of his belief that affordable housing is so fundamental and life-giving.  He believes CommonBond delivers a creative solution to a complex issue by combining finances, property management, onsite services, and community building for residents – all working together to help create lives filled with success and growth.

CommonBond’s model and actions have been very responsive to the changing demographics of residents through the years. George applauds the staff as agile leaders who develop and deliver additional services that round out residents’ needs.

George gives annually, and he recently made a gift to the Endowment for a specific purpose. He said, “I have had many advantages, and a great way for me to gift others is by contributing to the sustainability of CommonBond – a solid and viable organization – and its residents. Housing is a critical need, the model works well, and residents benefit and gain hope … join me in supporting these efforts!”

Residents Matter Most

CommonBond residents Isabel and Ronell
CommonBond residents Isabel and Ronell

Rarely a day goes by without a story in the media about the affordable housing crisis. CommonBond works to provide effective solutions to this issue, and residents are at the heart of our work.

Because the resident experience is our top priority, we recently conducted a survey to obtain feedback from the 9,000+ people who live in CommonBond communities. We invited residents to tell us what we do well and where we need to improve.  With a 44% response rate (well above the industry standard of 33%), the survey results were quite inspiring!

We are still analyzing the results, but a few key findings include:

  • 90% of the responses were positive;
  • 87% of the residents said they feel safe in their building; and
  • 89% of residents said they would recommend CommonBond Communities to a friend or relative.

Many of the resident comments shared their thoughts on the power of having a home – sometimes for the first time in their lives:

  • I am grateful for what CommonBond has done for me – keeping a roof over me and my daughter.
  • My family loves my home and they are so happy with all the wonderful staff. I feel in my heart this is where I am supposed to be.
  • I feel right at home in these apartments. My family and I love this place.

In the weeks ahead, we’ll further analyze the results to help ensure we continue delivering a high quality resident experience worthy of these accolades.  In addition, our property management team will put together a survey response action plan and report back to residents.

The voices of residents serve as a testament to why we do the mission-driven work we do. Their input helps CommonBond offer effective solutions to keeping rents affordable for families and individuals with low and moderate incomes. Indeed everyone deserves a dignified affordable home that that supports independence and advancement within a flourishing community.

Purchase of Boulder Ridge preserves affordable rents for 112 families

Photo of building with trees in foreground and blue sky in backgroundOn July 29, CommonBond purchased Boulder Ridge – thereby preserving affordable rents for the 112 families and individuals living in this townhome and apartment community in Apple Valley, Minnesota. Boulder Ridge is the first property where we’re partnering with socially-minded investors to preserve affordability in housing without new government subsidies. This kind of acquisition is an important complement to our work using government subsidy programs, which we will always pursue to the maximum extent available.

The purchase of Boulder Ridge is the first of many in CommonBond’s deliberate effort to counter the loss of affordable housing options. These acquisitions are especially critical as investors – local and nationwide – are rapidly buying modest properties in the region, adding luxury amenities, and substantially raising rents.

Under CommonBond ownership and management, Boulder Ridge will remain affordable for individuals and families with moderate incomes. These incomes correspond to those of hard-working childcare providers, maintenance technicians, teachers, and retail workers, as well as recent college graduates. The location of Boulder Ridge in a vibrant suburb presents opportunity and access for all. It’s in a quality school district, has plenty of nearby green space and parks, and offers excellent access to public transportation and highways – allowing for better access to jobs.

With the scarcity of affordable housing in our communities, preserving what exists – both physically and financially – is vital to achieving CommonBond’s vision of creating dignified homes that support independence and success for all. Learn more about our new business model through this Star Tribune article, or obtain details about investing in this work by contacting Ann Ruff, Executive Vice President of Resource Development, at 651-290-6234.