2014 Annual Report

AnnuAl RepoRt 2014twenty-five

years of

revitalizing

neighborhoods

completed2014

Housing Visions2

what we doAt Housing Visions we develop, construct and manage neighborhood revitalization projects that are

sustainable. our acquisitions are guided by the needs of the community for strategic high impact. We

substantially rehabilitate or newly construct homes and buildings then manage them on a long-term

basis. We specialize in using low income tax credits to obtain private equity as our primary source of

funding, supplemented by a diverse range of other federal, state and local resources.

our residents are low- to moderate-income households including special populations such as the

frail elderly, persons with mobility impairment, persons with hearing and/or vision impairment,

developmentally disabled, veterans, survivors of domestic violence and the homeless.

our mission

to be the catalyst for sustainable positive change in neighborhoods through real estate development

and community collaboration.

our values

Quality • responsibility • integrity • Compassion

These values define and shape the culture and character of our company and guide how we make

decisions. By putting these values into practice we are creating long-term success for our residents,

employees, partners and the communities we serve.

ABoutus

2014 AnnuAl RepoRt 3

As Housing Visions celebrates its 25th anniversary, we take a moment to pause, to reflect and to consider how we have spent our time. We’ve done well growing our organization and positively impacting our communities. over the past decades, Housing Visions has rehabbed deteriorated properties, built new and revitalized neighborhoods while making housing accessible for thousands of individuals and working families in Upstate New York.

This year alone, we completed three significant and unique projects. one created 50 homes for homeless veterans with on-site supportive services. the other two created 68 homes for low- to moderate-income families and seniors in the utica and Auburn areas. We acquired and preserved a historic building with 13 subsidized housing units that had been neglected and transformed them into apartments the residents are now proud to call home.

In addition, in 2014 we broke ground on four projects, which will add nearly 200 affordable homes for families in Upstate New York. Three of these projects were in new communit ies for us, expanding our ever growing impact and reach. All of these projects challenge us — as an organization — to grow and improve. And with each new project we become better at what we do.

in 2013, we launched dynamic Building solutions, our green building services company. in 2014, dynamic Building solutions analyzed and consulted on more than 100 housing units using green building and energy programs such as Energy Star, NYSERDA and LEED. This ensures our developments are ecologically friendly, energy efficient and designed to be sustainable for the long-term.

Visions for change continued to grow and to change lives. VFc empowers individuals, who are underemployed or unemployed, to find

employment in fields they desire. Participants learn the skills necessary to identify opportunities, to set and attain goals, to retain employment and to grow a career.

over the past 25 years, we’ve experienced significant growth and accomplishments which have only been possible with a very capable and dedicated staff and a supportive board of directors. in the upcoming years, we’re planning even greater growth.

to meet the demands of that growth, we need an even more capable and dedicated staff and will be providing extensive training and professional development opportunities. We need an even more supportive board and will get there by offering several, in-depth informational sessions. We need even stronger partnerships within our communities, which we are developing through community relations, community involvement and more comprehensive collaborations.

We are committed to developing whole communities and to improve the quality of life for all. We are developing larger mixed-use, mixed-income models to serve more individuals. We are expanding our footprint to serve more communities. And we are investing in programs to empower people and provide them with the capacity to succeed and move out of poverty. our mission is to revitalize neighborhoods. our purpose is to help people to thrive. this is what has driven us for the past 25 years and it is what will continue to drive us into the future.

A messAge FRom ouR president

Our mission is to revitalize neighborhoods. Our purpose is to help people to thrive.

— Kenyon Craig, President & CEO, Housing Visions“ “

completed2014

Housing Visions4

R A n k i n g nonpRoFit deVelopeRn A t i o n W i d eby Affordable Housing

Finance Magazine(#32 overall)

300,000+squARe Feet in constRuction And pipeline

u n i t s i n poRtFolio AndundeR constRuction

1,300+#6

s u p p o r t i v e H o u s i n g

ApArtMents For ForMerly

HoMeless v e t e r A n s

77

i n v e s t e d i n

revitaliz ing neighborhoods$302 Million

housing visions’ revitalization efforts, suCh as sheridan hollow village (piCtured) and salina Crossing, redevelop neighborhoods into mixed-inCome, mixed-used sustainable Communities

housing visions’ revitalization efforts, suCh as sheridan hollow village (piCtured) and salina Crossing, redevelop neighborhoods into mixed-inCome, mixed-used sustainable Communities


ConstruCtion aCtivityHousing Visions has nearly 300 quality affordable

housing units either in construction or about to start construction in six cities across upstate new York and Pennsylvania. Due to our growing staff, we have expanded our headquarters.

building whole CommunitiesIn 2014, we broke ground on several projects

which will transform blighted neighborhoods into whole, inclusive communities. sheridan Hollow Village is one such development, where we partnered with local, community-based organizations for a comprehensive neighborhood revitalization plan to redevelop the neighborhood into a mixed-use, mixed-income sustainable community.

extending our footprintin 2014, we expanded our footprint into three

Upstate New York Communities — Buffalo, niagara Falls and Albany — growing our portfolio to stretch to 11 cities. in 2015, we were awarded funds to develop a project in our 12th upstate new York community (Oneonta) with Oneonta Heights.

We also crossed state borders to develop our first project outside of New York, the Beech Street Factory in Pottstown, PA, making Housing Visions one of the largest nonprofit developers of affordable housing in the nation.

serving residents well beyond housing

in 2014, we completed Vankeuren square, a 50-unit supportive housing development providing onsite supportive services and permanent housing for homeless Veterans. We broke ground on Walnut Avenue Homes where we partnered with the YWCA to provide 13 units of supportive housing for low-income homeless women and their children and survivors of domestic violence.

At Housing Visions, we are committed to more than just the bricks and mortar, we are committed to building people.

sound stewardshipWith the completion of Vankeuren square,

Housing Visions completed its first LEED Certified platinum project.

In addition, we broke ground on two developments in niagara Falls and in syracuse, which are designed to achieve leed for Homes certification. Other green building and sustainability programs we utilize in our construction include Energy Star, NYSERDA, and enterprise green communities.

2014highlights

last year, we created and preserved 324 homes for more than 1,000 low-income residents.

Development Name City Apartment Community Homes Served

CONSTRUCTION STARTED

SHERIDAN HOLLOW ALBANY 57 FAMILIES / MIXED USE

MASS. AVE. COM. HOMES BUFFALO 46 FAMILIES / MIXED USE

SALINA CROSSING SYRACUSE 49 FAMILIES / TRAUMATIC BRAIN INJURY

WALNUT AVE HOMES NIAGARA FALLS 41 FAMILIES / HOMELESS WOMEN

CONSTRUCTION COMPLETED

SE PAYNE CORNERSTONE AUBURN 35 FAMILIES

VANKEUREN SQUARE SYRACUSE 50 HOMELESS VETERANS

GENESEE CROSSING UTICA 33 FAMILIES / SENIORS

ACQUISITIONS/PRESERVATION

ASHLEY ARMS SYRACUSE 13 INDIVIDUALS / FAMILIES

TOTAL HOMES 324

completed2014

Housing Visions6

completed2014

Project cost: $11.5 M building: 1 units: 50

awards: leed plAtinuM certiFicAtion, 2015 cHArles l. edson tAx credit excellence AwArd

winner, FinAlist For AFFordABle Housing FinAnce reAders cHoice AwArds For tHe supportive

Housing cAtegory

vanKeuren square is a high-quality affordable housing development with on-site supportive services for

50 homeless veterans. this project is Housing visions first to receive leed platinum certification. vanKeuren

square provides “one-stop” service for veterans by locating permanent housing and case management in

one building. it consists of several common space options including a community room, computer lab, bicycle

storage and a workout room. supportive services are coordinated to include case management, medical

care, alcohol and substance abuse treatment, mental health treatment, benefits counseling, job training and

employment opportunities.

VanKeuren Square SyracuSe, new yorK

50Homes FoR Homeless VeteRAns

Project cost: $8.9 M buildings: 13 units: 33

Housing visions acquired 20 properties, which included 10 dilapidated buildings and 10 under-utilized

vacant lots. All 10 existing buildings were demolished. Housing visions demolished the former oneida

castle and replaced it with a comparably designed three-story apartment building providing nine units of

quality affordable housing for seniors.

geneSee croSSing uTica , new yorK


Project cost: $10.3 M buildings: 16 units: 35

An innovative neighborhood revitalization development, se payne responded to the need for

quality affordable housing for low and moderate income families in Auburn. this project revitalized

blighted and deteriorated buildings in the orchard street neighborhood Area along James, orchard,

washington, Benton and clark streets. the development continues the neighborhood revitalization

initiated by the city of Auburn, Home HeadQuarters, inc., and the Allyn Foundation.

Se payne cornerSTone auBurn, new yorK

AcquiRed2015

value: $380,000 buildings: 1 units: 13

Built in 1900 for dr. george e. gridley, a prominent local physician, this colonial revival style mansion,

designed by renowned syracuse architect Archimedes russell, served as an office and residence until it

was sold to Anson Alvord, becoming known as the Alvord House. Much of the original cherry woodwork

and a frescoed ceiling remains intact since the home was converted into 13 one- and two-bedroom

subsidized apartments between the main house and the carriage house.

aShley armS SyracuSe, new yorK

completed2014

Housing Visions8

undeRconstruction

total investment $15.3 M estimated Completion 2016 buildings 17 units 57

sheridan Hollow village is part of a comprehensive neighborhood revitalization strategy to redevelop the

sheridan Hollow neighborhood into a mixed-use, mixed-income sustainable neighborhood with partnerships with

the Habitat for Humanity capital district and the touhey Home ownership Foundation.

Housing visions’ component of sheridan Hollow village is the development of 57 units of quality affordable

rental housing through the new construction of 17 buildings which feature approximately 7,331 square feet of

commercial/office space to enhance economic development in a neighborhood that is largely devoid of quality

services, retail, commercial and recreational space despite its close proximity to the downtown core, state offices,

and nearby thriving neighborhoods.

Sheridan hollow Vill age alBany, new yorK

total investment $14.8 M estimated Completion 2016

buildings 10 units 49

salina crossing is a mixed-use development that will strengthen neighborhood

revitalization efforts in two distinct neighborhoods connected by salina street, a main

thoroughfare that spans the northside and southside of syracuse. By rehabilitating and

rebuilding scattered sites in both of these neighborhoods, salina crossing will address

unmet residential and commercial demand, tackle blighted and vacant properties, and

improve the quality of life for residents and neighbors. salina crossing adds 49 housing

units affordable to households earning between 30% and 50% of the Area Median income.

eight units in salina crossing will be available through priority leasing to persons with

traumatic brain injury (tBi).

Salina croSSing SyracuSe, new yorK



walnut Avenue Homes is an innovative neighborhood revitalization development that responds to the critical

need for quality affordable housing for low-and moderate-income families in niagara Falls. this project will revitalize

blighted and deteriorated properties along walnut Ave., 5th street, 6th street and 7th street, transforming five

underutilized vacant lots, 3 deteriorated and vacant residential buildings, 1 deteriorated and vacant school

administrative building, and an underutilized warehouse building. there will be 7 newly constructed buildings and

1 substantially rehabilitated building.

the substantially rehabilitated building is historic and we will preserve a piece of history and neighborhood fabric

that will help to maintain the streetscape. Additionally, Housing visions has partnered with the ywcA of niagara

to provide 13 units of permanent supportive housing for low-income homeless women and their children and /or

survivors of domestic violence. walnut Avenue Homes will transform the distressed neighborhood on a large and

comprehensive scale by eliminating blight and improving residents’ quality of life.

walnuT aVenue homeS niagara FallS, new yorK

13Homes FoR Homeless Women And/oR suRViVoRs oF domestic Violence


Mass Ave community Homes, in partnership with local nonprofit pusH, inc., is part of an effort to revitalize a west

side neighborhood of Buffalo as a mixed-income, mixed-use sustainable community. this comprehensive project fits

directly within the creativity, vitality and spirit of Buffalo’s Massachusetts Avenue corridor green development Zone

and the vision that its residents have for its future. the project will provide quality, affordable, rental housing through

the substantial rehabilitation and new construction of 16 buildings providing 46 units and 800 square feet of leasable

commercial space. the project will include 7 substantially rehabilitated and 9 newly constructed buildings.

maSSachuSeTTS aVe communiT y homeS BuFFalo, new yorK

completed2014

Housing Visions10

indevelopment


oneonta Heights will consist of 7 buildings, 6 new construction and 1 strategically located rehab. the buildings

will be in three “clusters” throughout oneonta. the rehab addresses a long vacant property that has become

an eyesore that the city has wanted addressed for years. the centerpiece of oneonta Heights will be a 40 unit

new construction senior building addressing a critical need for quality senior housing in this college town. this

building for seniors will be equipped with a community gathering area, computer lab, kitchen, laundry facilities

and on-site property management office.

oneonTa heighTS oneonTa , new yorK

40Homes FoR senioRs to Age-in-plAce


developed by Housing visions in partnership with genesis Housing corp., Beech street Factory will transform the

former leibowitz shirt Factory — a long vacant, blighted, 60,000-square-foot warehouse — into a mixed-used building in

the heart of pottstown, pennsylvania.

partnering with genesis Housing corp. and ArtFusion 19464, the Housing visions team has worked directly with

pottstown community residents and local government to identify the needs and vision for the pottstown neighborhood.

Beech street Factory will provide 43 units of high-quality affordable rental housing and a new home for ArtFusion 19464,

pottstown’s nonprofit community arts center, in the street-level commercial space.

constructed in 1912 as the leibowitz shirt Factory, the 100+ year old brick building at 341 Beech street will feature

abundant natural light, historic character, and energy star appliances. residents of the one-, two-, and three-bedroom

apartments (ranging in size from 800 to 1,500 square feet) will enjoy amenities such as a community room/gallery space,

computer lab, covered bike racks, landscaped courtyard and open front porch, on-site laundry facility, individual storage

lockers, elevator, and a fully staffed property management and leasing office.

Beech STreeT FacTory poTTSTown, pennSylVania


WHo We serve

Black45%

White34%

Hispanic/latino12%

other5%

American indian2%

Asian2%

residents by race

syra

cuse

utica

osweg

oAuburn

cortlan

d

Rome

Lock

portBingh

amto

n

1,081

784

449

106 85 75 66 20

number of residents served in each city.

by the numbers

193Affordable housing

units started in 2014


units projected to be started in 2015

987Affordable housing units owned as of

Jan. 1, 2015

1,473total affordable housing units projected and

currently owned


units projected to be acquired in 2015

syraCuse$94,521,000

utiCa$54,165,000

oswego$43,649,000

albany$15,432,000

buffalo$13,396,000

niagara falls$12,162,000

auburn$11,879,000

loCKport$8,593,000

Cortland$8,139,000

rome$7,706,000

binghamton$4,067,000

$274.7 million

Community investments Completed and under Construction

in 2014, we served 2,666 residents throughout our 40 communities.

GENDER

MALES 42.7%

FEMALES 57.3%

AGE

UNDER 18 45.9%

18-64 50%

65+ 4.1%

DISABLED 5.2%

PHYSICALLY DISABLED 0.72%

NUMBER OF UNITS RESERVED FOR...

HOMELESS VETERANS 77

SURVIVORS OF DOMESTIC VIOLENCE 13

SENIORS 23

ADA ACCESSIBLE 124

TOTAL RESIDENTS 2,666

City Buildings Units InvestmentCOMPLETED OR UNDER CONSTRUCTION

SYRACUSE 121 443 $94,521,000

UTICA 90 265 $54,165,000

ROME 11 33 $7,706,000

AUBURN 19 47 $11,879,000

BINGHAMTON 8 22 $4,067,000

CORTLAND 8 30 $8,139,000

OSWEGO 27 169 $43,649,000

LOCKPORT 9 30 $8,593,000

BUFFALO 16 46 $13,396,000

NIAGARA FALLS 8 41 $12,162,000

ALBANY 17 57 $15,432,000

COMMITTED

ONEONTA 7 60 $15,443,000

POTTSTOWN 1 43 $13,665,000

TOTAL HOMES 342 1286 $302,817,000

Capital proJeCts

completed2014

Housing Visions12

Berry plastic

cardinal Health

CNY Works

contact community services

cooperative Federal credit union

contemporary personal Staffing

Greater Syracuse Works

Housing Visions

Jobs plus

literacy coalition of onondaga county

loretto

manpower

national tractor trailer school national grid

new england motor Freight

northeast community center

onpoint for Jobs

peggy ogden solutions in philanthropy

salvation Army

seFcu

sheraton syracuse

SUNY EOC

SUNY Upstate medical university

syracuse model neighborhood

tessy plastics

Veterans Affairs

Wegmans

172graduates

74%

employment after program Completion

employment 6 months after

program Completion

84%

salary$0k $25k

$3K

top seCtors

$0k $25kaverage $18K

beforeprogram

afterprogram

visions for Change is a nonprofit affiliate of Housing Visions and serves to be the catalyst to alleviate poverty through education, support and community collaboration. its vision is a world free from poverty.

Visions for Change redefines poverty and promotes understanding through its poverty simulation, which is a unique enlightening experience that helps individuals gain a new perspective and begin to understand what life is like with a shortage of money and an abundance of stress.

Visions for change encourages low-income people to participate in decisions that affect their lives,

families and communities and promotes opportunities for under-employed or unemployed people to develop through Choosing to thrive, a workforce empowerment program providing a two-week skills building workshop, career development with a designated job coach and continued support for long-term job retention.

Visions for change nurtures solidarity within our community through Beyond our Differences, which provides insight on how to effectively support and work with low-income people.

Choosing to thrive poverty simulation

1,100+participants

workshops held

10

Community partners

Healthcare Service Nonprofit Professional


61%

12%

10%

7%5%

3%1%

1%

63%13%

5%

8%

6% 1%

0%

2%1%

2014 finanCials

Financial Position ASSETS

Cash and Cash Equivalents $2,084,000

Receivables and Work-in-Process $2,167,000

Related Party Receivables $5,761,000

Net Property and Equipment $9,332,000

Loans Receivable $2,677,000

Investments $2,760,000

Other Assets $504,000

Reserves $338,000

Total Assets $25,623,000

Capital proJeCts

REVENUEConstruction $8,711,000

Property Management $1,731,000

Development $1,410,000

Rental Revenue $1,072,000

Grants $750,000

Visions for Change $194,000

Green Building Services $111,000

Miscellaneous Revenue $397,000

Total $14,376,000

EXPENSESConstruction $8,952,000

Property Management $1,916,000

Development $695,000

Rental $1,088,000

Grants $68,200

Visions for Change $294,000

Green Building Services $109,000

Management/Administrative $931,000

Rental Depreciation $254,000

Total $14,307,200

LIABILITIES AND NET ASSETS

Accounts Payable $1,984,000

Related Party Payables $122,000

Notes Payable $7,963,000

Other Liabilities $632,000

Fund Balance $14,922,000

Total Liabilities and Fund Balance $25,623,000

This financial statement combines the accounts of Housing

Visions Unlimited, Inc.; housing visions unlimited, inc.;

housing visions development group, inc.; housing visions

Consultants, inc.; housing visions Construction Co., inc.;

housing visions portfolio unlimited, inc.; visions for Change,

inc.; hv acquisitions, llC; east side business Center, llC; and

dynamic building solutions, llC

Our operations consist of

five significant activities:

• Developing quality affordable properties

• Managing and maintaining affordable rental properties

• Construction of new and rehabilitated rental properties

• Transitioning families into economic stability

• Consulting for energy and sustainbility in the built environment

completed2014

Housing Visions14

leAdeRsHip teAmKenyon Craig, president & ceo

rebecca newman, executive Vice president & coo

benjamin lockwood, Vice president, Business development

natalya stepanok, Vice president, Finance & Administration

paul baldwin, director of construction

Catherine muller, director of Administration

Kendra murphy, director of property management

rhonda o’Connor, director of community engagement

benjamin oscarlece, controller

Housing Visions unlimited, inc. BoARd oF diRectoRsmaryann Winters, chair

donald Hazelmyer, treasurer

David Mankiewicz, Secretary

kenyon craig, president & ceo

Rebecca newman, executive Vice president & coo

carrinda Bacon

Andrew Branch

Thomas Buckel

michael collins

thomas dellwo

Ron deluca

Linda Dickerson Hartsock

Tiffany Dunmore

Patrick Firth

Rev. craig French

karen Jones

sharon kehinde

Julius lawrence, Jr.

david michel

John murray

lawrence myers, Jr.

donna o’mahony-Rhode

peggy ogden

nicholas petragnani, Jr.

corinne Ribble

timothy Rice

carol simson

Felicia Welch-Brown

Joseph Wormworth

Sue Yancy

Richard Hezel, chair

maryann Winters, treasurer




michael collins

thomas dellwo

Ron deluca

Linda Dickerson Hartsock

don Hazelmyer

Robert Hough

matt irish

david michel

Merike Treier

Felicia Welch-Brown

Housing Visions consultAnts, inc. BoARd oF diRectoRs

ouRleadership

maryann Winters, chair

donald Hazelmyer, treasurer




matt irish

Housing Visions constRuction co., inc. BoARd oF diRectoRs

Rev. craig French, chair

maryann Winters, Vice-chair

don Hazelmyer, treasurer

paul predmore, secretary



Virginia carmody

Ron ehrenreich

Richard Hezel

matt loveland

Richard mahan

David Mankiewicz

cyprien mihigo

Ronda morrison

Rebecca newman

nelson price

donna o’mahony-Rhode

mary thompson

Wanda thompson

Visions FoR cHAnge, inc. BoARd oF diRectoRs






Housing Visions deVelopment gRoup, inc. BoARd oF diRectoRs



paul predmore, secretary



Housing Visions poRtFolio unlimited, inc. BoARd oF diRectoRs


Auburn

cortland

utica

Romesyracuse

oswego

Albany

Buffalo

Lockportniagara Falls

Binghamton

oneonta

Corporate Offices1201 east Fayette streetSyracuse, NY 13210315.472.3820 315.471.3921 (f)

albany207-209 sheridan AvenueAlbany, New York 13211

auburn92 Clark StreetAuburn, NY 13021315.252.4524 315.252.4670 (f)

binghamtonManaged by First Ward Action Council165 clinton streetBinghamton, NY 13905617.772.2850

Buffalo527 West utica streetBuffalo, New York 14213

Cortland17-29 main street, suite 420Cortland, NY 13045607.299.4199 607.299.4110 (f)

forest view at fayetteManaged by Loretto1316 e Fayette stSyracuse NY 13210315.477.5032

lockport 95 locust streetLockport, NY 14094716.280.3613 716.280.3615 (f)

niagara falls607 Walnut AvenueNiagara Falls, New York 14301

oneontacoming in 2016

oswego96 Hamilton streetOswego, NY 13126315.343.9683 315.342.2452

pottstown, pennsylvaniacoming in 2016

rome427 s. James streetRome, NY 13440315.571.9102 315.571.9103 (f)

Syracuse East Side Rental Office401 maple streetSyracuse, NY 13210315.234.4436 315.218.5640 (f)

Syracuse North Side Rental Office116 Hawley AvenueSyracuse, NY 13203315.422.6300 315.422.6308 (f)

Syracuse VanKeuren Rental Office2223 east genesee streetSyracuse, NY 13210315.474.1815 315.474.1874

Utica Rental Office1229 kemble streetUtica, NY 13501315.735.9161 315.735.1172 (f)

visions for Change, inc.1201 east Fayette streetSyracuse, NY 13210

315.218.0938 315.471.3921 (f)

ouRlocations

Housing Visions Unlimited, Inc. • Housing Visions Development Group, Inc.

Housing Visions Consultants, Inc. • Housing Visions Construction Co., Inc.

Housing Visions Portfolio Unlimited, Inc. • Visions For Change, Inc.

HV Acquisitions, LLC • East Side Business Center, LLC • Dynamic Building Solutions, LLC

1201 east fayette street

Syracuse, New York 13210 • 315.472.3820

www.housingvisions.org

2014 Annual Report

Documents

Transcript of 2014 Annual Report