In 2021, CREA deepened its mission by prioritizing people and directing business as a force for good. In repositioning as a company focused on impact and humanity, CREA reimagined its mission, vision and values. Updates align and reflect CREA’s commitment to community, family, integrity, respect, inventiveness and teamwork.
Guided by these core values, CREA launched the official operation of the corporate non-profit CREA Foundation, Inc., with a commitment to improving the lives of youth and young adults facing financial barriers to success in the communities CREA serves. The foundation seeks to create opportunities to further learning, development and education, with an ultimate goal of successful completion of post-secondary degrees.
“Our greatest achievements in 2021 go beyond the portfolio,” said Jeff Whiting, Chairman and CEO. “Our most notable successes includes the launch of CREA Foundation and progress towards a shared vision of racial and gender equity and social impact, as well as internal and external growth and representation.”
Led by purpose and the continued need for safe, affordable homes across the country, CREA focused strategic efforts on elevating individuals and families through its partnerships with organizations equally committed to breaking the cycle of poverty and building communities for all. As a result of CREA’s active and intentional growth around social impact, expanded resources and representation in diversity, equity and inclusion ultimately came to surface.
“2021 was a year of many firsts for CREA,” said Charles Anderson, Co-President. “From the renewal of our mission, vision, and values and the creation of CREA Foundation, to a record amount of volume – I am truly humbled to participate in the creation of safe, decent and affordable housing with a team that shares that greater purpose. We are enthusiastic about continuing that success and creating affordable housing that everyone can be proud of in 2022 and beyond.”
Closing out 2021, CREA is encouraged by the opportunity to engage in the creation of 8,499 homes within 85 affordable communities in 32 states across the country. Growth at the property level was supported by the contribution of $1.13 billion of total equity, with an additional $550 million raised and expected to close in 2022. Despite the continued pandemic environment, these results are a testament to the relationships and commitment of investor and developer partners, as well as to the ongoing need for affordable housing solutions.
“I continue to be impressed by and thankful for our partners – investors, developers, business partners and advisors,” said Tony Bertoldi, Co-President. “It is truly a pleasure to work with them and help advance our combined goal of producing affordable housing. We have a lot of work to do in 2022, but I know we can accomplish it with our partners and outstanding CREA team.”
As CREA marks over 20 years in business, $8.3 billion of total equity has been raised, contributing to the formation of over 70,000* homes within 770* properties (*totals as of 2/17/2022).