This Veterans Day, we are reminded that honoring those who served goes beyond words. It’s about taking meaningful action. Earlier this month, CREA’s Chairman and CEO, Jeff Whiting, and SVP of Originations, David Ciminelli, joined McDowell Housing Partners for the grand opening of Ekos Allegro in Naples, Florida, a community dedicated to providing safe, affordable housing for seniors, especially veterans.
Here at CREA, supporting affordable housing is at the core of our mission. As a leading tax credit syndicator, we partner with developers nationwide to transform visions into reality. Ekos Allegro is one of those success stories: 160 hurricane-proof homes built to Miami’s Category 5 standards, offering stability in a region where the cost of living has surged.
This development was made possible through the low-income housing tax credit (LIHTC) program, which we help leverage by transforming federal tax credits into development funding. Jeff Whiting emphasized the importance of this collaboration, saying, “The grand opening of Ekos Allegro demonstrates the impact of the LIHTC program. The McDowell Group developed this property through the collaboration of local and state leaders, who successfully implemented a housing policy with minimal federal intervention. By leveraging $1 of federal tax credits into $5 of development costs, supported by the Florida Housing Finance Corporation and the Commissioners of Collier County, the LIHTC program showcases its potential. This affordable community exemplifies a true public-private partnership, providing not only safe and affordable housing but also essential medical care and nutritional services for seniors in the Naples community.”
For Vietnam War veteran Daniel Mullins, who was previously homeless after selling his trailer, Ekos Allegro has been life-changing. Reflecting on his journey, he shared with Fox 4 News, “I was in military intelligence, and I was in Vietnam from ’69 to ’72.” Now, he finally has a safe, stable place to call home - a testament to the profound impact that affordable housing can have on individuals’ lives.
In recognition of Veterans Day, we reaffirm our commitment to providing affordable housing for those who have given so much for our country. Together with our partners, CREA is dedicated to ensuring that veterans receive the homes and support they deserve. But our mission doesn’t stop here. We are committed to continuing our work, partnering with developers to bring more affordable housing to communities across the country.
Here’s to more partnerships, more homes, and more lives transformed. Because everyone deserves a place to call home.
Sources:
1. Fox 4. “Homeless Naples Vet Finds New Hope and Home at Affordable Senior Housing Complex.” Fox 4 Now, Nov. 3, 2024. https://www.fox4now.com.
2. McDowell Housing Partners. “Homeless Naples Vet Finds New Hope and Home.” LinkedIn, Nov. 3, 2024. https://www.linkedin.com.
3. Withorn, Cynthia. “Housing Affordability: Where Our Grants Go.” LinkedIn, Nov. 3, 2024. https://www.linkedin.com.