By Laura Bailey, Affordable Housing Finance

There is a long-standing recognition among those committed to affordable housing that putting a roof over someone’s head is not in itself sufficient. Unless accompanied by an interlocking suite of accessible supportive services, communities inevitably fall short of their potential of helping residents build more fulfilling and satisfying lives.

More recently, affordable housing professionals have taken this idea to the next level. We have realized that focusing affordable housing communities on groups with specific requirements is the most efficient and effective way to deliver these services. Rather than create communities for people with a broad array of needs, developers often dedicate some or all of their portfolios to these specialized communities.

Capital One has joined forces with a range of government, nonprofit, and community stakeholders to create viable financing for these developments. In recent years, we have helped open communities serving the formerly homeless, veterans, people with disabilities, and grandfamilies—or family groups consisting of older adults raising grandchildren or other younger relatives. As part of these efforts, our underwriting team goes beyond financial analysis. The team’s confidence that our nonprofit partners can deliver the specialized supportive services required by the project and can attract the resources to sustain these programs weighs heavily in their decision-making process.

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