28 Mar Cabretta Capital Provides State Tax Credit Equity to Fund Veteran Housing
Veterans who are homeless, near homeless, or disabled have hope on the horizon in Dublin, Ga., thanks to a public-private project funded by Federal and State Historic and Low-Income Housing Tax credits. Once operational, Freedom’s Path (located at 1826 Veterans Boulevard) will provide 50 units of affordable housing to the most vulnerable of the veteran population.
Cabretta Capital — along with Solutions for Veterans, Regions Bank, the City of Dublin, the Dublin Housing Authority, Garrisons for Veterans, and Communities for Veterans — became involved at the request of the Veterans Administration, which was seeking creative partnerships with developers and non-VA service providers.
Construction began in October 2022 to redevelop two historic buildings on the Carl Vinson Veterans Affairs Medical Center campus into 22 studio efficiencies and 22 one-bedroom apartments. In addition, six units of new construction dedicated to female veterans and their families will be built behind the existing historic renovations. The project is expected to be completed in October of 2023.
To stay at the facilities, veterans must meet income guidelines. Once accepted, residents will benefit from VA services, including medical, pharmacy, therapeutic, and rehabilitation, as well as augmented services provided by veteran service organizations and local nonprofits. Having immediate access to services such as these has a demonstrated success rate regarding remaining in permanent housing and continuing education, employment, and life enrichment activities.
In April 2019, the U.S. had a homeless population of more than 630,000, with 67,000 Armed Forces veterans. Joe Grant, Homeless Veteran Program Coordinator at the Carl Vinson VA Medical Center in Dublin, estimates that more than 2,000 veterans are homeless across Central and South Georgia.
“Solutions for Veterans, Inc. was instrumental in making this project a reality, especially President and CEO Craig Taylor, who has developed hundreds of units for veterans in several states,” said Brent Watts, President of Cabretta Capital. “Being able to have an impact like this where you know people’s lives are going to be changed made this project especially meaningful for us. Our veterans have sacrificed so much for us, and it is only right that we take care of them in return.”
To learn more about the project, visit www.freedomspathdublinga.com.