Housing Initiative

What Housing Initiative does

Housing Initiative, LLC is a mission-driven affordable housing developer founded in 2016 as a wholly-owned subsidiary of the Council for the Homeless, operating exclusively in Vancouver, Washington (Clark County). The company develops and preserves rental apartments "from the perspective of the homeless crisis response system," targeting individuals and families with barriers to the private rental market — primarily people experiencing or at risk of homelessness. Its portfolio consists of three completed permanent supportive housing (PSH) properties totaling 110 one-bedroom units: The Pacific (18 units, January 2020), The Elwood (46 units, February 2021), and The Meridian (46 units, April 2022). Each property is garden-style with ground-floor accessibility, community amenities, and on-site case management delivered via partner agencies.

The business model is government-subsidized affordable housing rather than market-rate real estate. Tenants pay 35% of adjusted income toward rent; the balance is covered by project-based Section 8 vouchers administered through the Vancouver Housing Authority, which also acts as on-site service coordinator and property manager across all properties. Development capital is assembled from a layered stack typical of LIHTC projects: Low-Income Housing Tax Credits allocated by the Washington State Housing Finance Commission (syndicated by Hunt Capital Partners on The Elwood), Washington State Department of Commerce grants, Clark County and City of Vancouver public funds, philanthropic grants (most notably a $5M Conrad N. Hilton Foundation grant in May 2022), and healthcare-system funding (PeaceHealth). There is no proprietary technology platform; the company's "technology" is its integrated operating model that combines LIHTC-financed physical assets with referral pipelines through the Council for the Homeless and Wraparound services from SeaMar, SHARE, and Recovery Cafe.

Go-to-market is community-led rather than commercial: units are filled exclusively through the Clark County homeless crisis response system, with the Vancouver Housing Authority and Council for the Homeless coordinating tenant placement. The company employs 1-10 people, with Sierk Braam (Masters of City and Regional Planning, Ohio State) serving as the primary executive and public contact. Revenue is recurring rental income, but the material economic driver is the company's ability to source and stack subsidy capital — not tenant lease economics, which are capped at 35% of income.

Name

Housing Initiative

Legal name

Housing Initiative, LLC

Website

https://housinginitiative.net

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Housing Initiative is a nonprofit-affiliated affordable housing developer in Vancouver, WA that builds and operates permanent supportive housing for individuals facing homelessness, financing projects via LIHTC, public subsidies, and philanthropy and filling units through the local homeless crisis response system.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Other Residential Care Facilities (62399), Other Community Housing Services (624229)

SIC

Operators Of Apartment Buildings (6513)

akta.pro industry

PRIMARYIMAFABAI

Residential Affordable Housing Development & Construction

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Residential Building Construction

SECONDARYBPAIACAJ

Housing & Neighborhood Services (Local Housing Programs)

Business & Public Services/Public Sector & Government Administration/Local/Municipal Government Administration

SECONDARYBPAIANAA

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing)

Business & Public Services/Public Sector & Government Administration/Housing, Urban Planning & Community Development

Keywords

• Affordable housing development
• Permanent supportive housing
• Homeless services housing
• Subsidized rental housing
• Low income housing

Headquarters

HQ city

Vancouver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Subsidized Rental Revenue: Revenue is generated through rental income subsidized by housing authorities. Tenants pay 35% of their adjusted income towards rent, with the remainder subsidized through Vancouver Housing Authority and other funding partners. This creates a sustainable recurring revenue stream from government housing subsidies.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Core offering

Housing Initiative develops, owns, and operates affordable permanent supportive housing apartments for individuals with barriers to renting in the private market, including people experiencing or at risk of homelessness. Its portfolio comprises 110 one-bedroom units across three properties in Vancouver, WA (The Pacific, The Elwood, and The Meridian), all subsidized through the Vancouver Housing Authority or partner agencies so tenants pay 35% of adjusted income toward rent, with case management and supportive services delivered by community partners.

Product overview

Housing Initiative, LLC is a mission-driven affordable housing development company created in 2016 as a subsidiary of the Council for the Homeless. The company develops and preserves rental apartments designed, financed, owned, and operated from the perspective of the homeless crisis response system. The portfolio consists of three properties: The Meridian (46 units, completed April 2022), The Elwood (46 units, completed February 2021), and The Pacific (18 units, completed January 2020), all located in Vancouver, WA and serving as permanent supportive housing with rent subsidies based on tenant income.

Differentiator

Problem solved

Functional benefit

Products and services

• The Meridian Forty-six 1-bedroom apartments (400 sq ft each) designated as permanent supportive housing, completed April 2022 at 3200 NE 78th Ave. in Vancouver, WA; all ground-floor units are fully accessible, garden-style design with community room, laundry, covered bike parking, and outdoor courtyard with community garden; subsidized rent at 35% of tenant adjusted income through Vancouver Housing Authority.
• The Elwood Forty-six 1-bedroom apartments (400 sq ft each) completed February 2021 at 6317 NE Fourth Plain Boulevard in Vancouver, WA; all ground-floor units are fully accessible.
• The Pacific Eighteen 1-bedroom apartments (400 sq ft each) designated as permanent supportive housing, completed January 2020 at 3209 NE 78th Avenue in Vancouver, WA; subsidized through Vancouver Housing Authority or Share, with case management by Share and Sea-Mar Community Services NW; amenities include laundry room and community garden.

Quantifiable outcome

• All tenants pay 35% of adjusted income towards rent, ensuring affordability while maintaining operational sustainability

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Home First DevelopmentcoreStrategic or Co-development PartnerDevelopment partner for The Pacific property. Provides development expertise for affordable housing construction projects.
• Team ConstructioncoreStrategic or Co-development PartnerConstruction partner for The Pacific property. Handles general contracting and construction management for housing development projects.
• Vancouver Housing AuthoritycoreStrategic or Co-development PartnerKey operational partner providing Service Coordination, Property Management, and primary rent subsidy funding (Section 8/Project-based vouchers) for all properties. Coordinates tenant placement and rent administration.
• SeaMar Community Services NorthwestcoreImplementation/ SI/ Consulting PartnerHealthcare and social services partner providing case management services and healthcare access support to residents at The Meridian and The Pacific properties.
• SharecoreImplementation/ SI/ Consulting PartnerSocial services partner providing case management services at The Pacific and rent subsidy coordination for select units.
• Recovery CafesupportingImplementation/ SI/ Consulting PartnerCommunity partner providing recovery support services to residents at The Pacific property.
• Council for the Homeless (CFTH)coreStrategic or Co-development PartnerParent organization. Housing Initiative was created in 2016 as a subsidiary of CFTH to develop affordable housing aligned with community homeless response goals. CFTH coordinates the local homeless crisis response system.
• Access ArchitecturesupportingStrategic or Co-development PartnerArchitecture firm providing design services for The Elwood property.
• OTAKsupportingStrategic or Co-development PartnerEngineering and design firm providing civil/structural engineering for The Elwood property.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Compass Housing Alliance: Pacific Northwest-based nonprofit operating permanent supportive housing for people experiencing homelessness with embedded services in Tacoma/Seattle; nearest geographic peer with a near-identical PSH-plus-services operating model anchored to a local crisis response system.
• Skid Row Housing Trust: Los Angeles nonprofit that develops and operates permanent supportive housing for individuals exiting homelessness, with case management integrated on-site; high-fidelity comparable on PSH model despite being a regional rather than Northwest operator.
• Common Ground Community: NYC-based nonprofit developer/operator of supportive and affordable housing with on-site social services for formerly homeless and at-risk populations; comparable integrated housing-plus-services model and nonprofit structure.
• Abode Services: Bay Area nonprofit that combines housing development with on-site supportive services for formerly homeless individuals; closely aligned PSH operating model with Housing Initiative, though primarily California-focused.

Broad incumbents

• Enterprise Community Partners: National nonprofit that develops and finances affordable and supportive housing through LIHTC, philanthropic, and public funding; comparable capital stack and mission but operates at far greater scale and breadth than Housing Initiative.
• BRIDGE Housing: Mission-driven nonprofit developer of affordable and supportive housing on the West Coast with integrated services and public-sector partnerships; analogous model to Housing Initiative but operating at much larger portfolio scale.
• Mercy Housing: National nonprofit affordable housing developer and operator with ~50,000 units across the U.S.; directly comparable as a mission-driven PSH/subsidized housing developer but at a far larger scale and broader geographic footprint than Housing Initiative.

Others

• Washington State Housing Finance Commission (WSHFC): State housing finance agency that allocates federal and state LIHTC credits enabling Housing Initiative's developments; an enabling capital provider rather than a competitor, but central to Housing Initiative's funding stack.
• Hunt Capital Partners: LIHTC tax credit syndicator that provided equity financing on The Elwood and is likely to be a financing partner on future Housing Initiative projects; not a competitor but a key repeat transaction counterparty.

Regional players

• Community Frameworks: Washington-state nonprofit housing developer focused on affordable housing and homeownership with public-private funding partnerships; regional peer within the same state policy environment, though less PSH-specialized.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Housing Initiative