How will the Open 4000 Doors Campaign help?
The need for safe, affordable homes has never been greater, and CommonBond is in a unique position to address this challenge. With your help, we can help more people than ever open doors to safe, affordable homes.
Open 4000 Doors will:
- Create more homes
- Expand support services
- Build a new home for residents and staff
Create More Homes ($8 million)
The Housing Investment Fund will
- Create 4000 more homes over the next five years
- Build a steady source of capital to create homes far into the future
How it works now
CommonBond's tight financial model has allowed CommonBond to ensure financially stable housing and expand to meet the need throughout the Midwest and attract investors. However, we have had very little working capital, which has limited our ability to take on more ambitious developments. With nearly 6,000 people on our waiting lists, a greater Housing Investment Fund is essential to meet the need.
Adapting to meet the need
The Housing Investment Fund will provide capital we need to meet this need. In the short term, the fund will create 4,000 more homes in the next five years. The fund is also revolving, so an investment now will continue to create more homes in the future. Over time, investors pay off our initial investment and the money goes back into the fund to be used on new projects. The same money used to build 48 senior homes in Maplewood could be used next year to create a family community in Maple Grove, and our developer fees increase Money donated now will be creating, preserving and maintaining affordable homes for years to come.
Expand support services ($10 million)
the Advantage Center Fund will
- provide much needed services for both current and new residents who will live in our homes
- create a base to develop more innovative programming as needs change
- ensure that these services are there for residents over the long-term
How it works now
Housing is the first step towards overcoming poverty. We provide the next steps through supportive services, provided to residents free of charge. A family might get employment help and educational support for adults and kids. A senior might receive medical help, foot clinics and tax preparation help. Whatever communities need, CommonBond provides a leg up, not a handout. Funding for resident services depend heavily on chartitable annual contributions. When our goal is to provide stable, reliable services for residents to build off of, this year to year funding makes services far too vulnerable.
Adapting to meet the need
By significantly building the Advantage Center Endowment, the interest from this fund allows CommonBond to:
- Serve the additional 6,000 residents who will live in the 4,000 new homes.
- Further engage the surrounding neighborhood with residents, to impact the broader community
- Bring in more volunteers to expand services and foster connections
- Allow us to adapt to changing needs by providing opportunities to develop new programing
Build a new home for residents and staff
($3 million)
- Create a sustainable, energy efficient office space for growing staff
How it works now
For the past three decades, the Archdiocese of St. Paul and Minneapolis has generously donated a portion of their building to CommonBond office space. However, in growing to meet the housing need, we have grown out of the space. Staff work in the mail room and the former kitchen, volunteers are pushed out into hallways and some employees must work off-site. As we create more housing to address homelessness and reach towards environmental sustainability, a small office disconnected from the residents no longer makes sense.
Adapting to meet the need
CommonBond is working to transform a space at Highway 94 and Lexington Avenue in St. Pauil into a new housing community and an environmentally friendly office space. The community will provide much needed permanent homes for people currently experiencing homelessness. It will also create ample, publicly visible workspace, designed to LEED standards.
The need has never been greater. But with your help, we can open doors to more homes, more hope and a strong community. Donate to Open 4000 Doors today.
