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Hope Street Initiative - AEDIS REAL ESTATE GROUP, INC.

Hope Street Initiative

Hope Street Initiative

Overview

Homelessness has become a chronic and ever-growing epidemic throughout the United States. It has been reported that over 500,000 people across the US experience homelessness on any given night. Roughly 15% of the homeless population are considered chronically homeless.

In California, homelessness is a catastrophic problem. 20% of all homeless people in the United State are in California, with roughly 15,000 of these being veterans.

The 2017 Homeless Count states that the amount of homeless in Los Angeles County has swelled to 57,794 people, a staggering increase of 46% over the past three years, and over 23% in the past year alone.

In a recent Zillow study, it was determined that a median rental increase of 5% would create an additional 2,000 homeless in the Los Angeles metro area. Zillow is projecting a median rental increase of 4.5% for the coming year.

                       Program Description

Several recent studies on the homeless crisis have concluded that the best solution, both in terms of truly assisting the homeless, as well as from local government cost savings, is by providing permanent supportive housing for those chronically homeless. Aedis is coordinating with local government officials, as well as the Los Angeles County Department of Health Services (DHS) in providing these badly needed long term solutions.

Aedis, through its Hope Street Initiative, will locate suitable land, go through the necessary planning, and permitting process, and deliver, safe, sustainable, and green new apartment complexes that will be dedicated for permanent housing for the homeless population. Aedis will feature in each new building, several private and multipurpose meeting rooms, secure open space, and private offices for dedicated social service case workers.

Each apartment will come with Energy Star appliances, including a refrigerator, two burner electric stove top, and a combo microwave convection oven. The units will feature central air and heating, and meet all accessibility requirements. The units will be furnished with a bed, night stand and lamp, small kitchen table with seating, and have a ceiling fan with lights.

DHS, in turn, will vet all new residents, provide move-in assistance, and coordinate case management services to meet residents’ needs and provide on-site, wraparound services as part of the mental health management programming for DHS. A separate service provider will be identified, and will enter into a service contract directly with the County. The objective is to provide a full-time case worker for every 15 to 20 residents

By housing those with mental health issues and maintaining treatment with in-house and on-site supportive services, the DHS saves money because (1) housing is far less expensive than hospitalization, and (2) the concentration of services allows for additional efficiency for social workers, who can service numerous tenants in one day instead of driving from location to location. It is estimated that the County saves approximately $32,500 per resident, per year by permanently housing residents rather than treating them sporadically through hospitals and transitional housing.

Our major goals of the Hope Street initiative are as follows:


- To deliver a fast track development process by cutting our project timeline by 50% using re-purposed "shipping containers" to secure decent, safe and affordable housing for the less fortunate.

- To use environmentally sustainable products to build new housing by using 85% reclaimed materials and attain LEED Platinum requirements.

- To use an ultra-green solution to standard construction, such as cool roof technology which reduces heat absorption by over 90%, reduces air conditioning electricity bills by 20%, and new lightning systems that save 33% in energy costs compared to standard lighting.

- To develop multi-family supportive housing in conjunction with other agencies and non-profits to promote community integration, greater independence and well-being for people transitioning from homelessness or institutionalization.

- To ensure a secure and safe living environment for residents with controlled access to all residential areas.

Finding Solutions - Creating Community  - Developing Dreams