Veterans Benefits Clearinghouse Development Corporation

What Veterans Benefits Clearinghouse Development Corporation does

Veterans Benefits Clearinghouse Development Corporation (VBCDC) is a non-profit affordable housing development corporation founded in 1987 in Boston, Massachusetts, originally formed as the housing development arm of Veterans Benefits Clearinghouse, Inc. (VBC), a social service agency that operated from 1977 until 2009. The organization's stated mission is to move veterans from 'Homeless to Homeownership' by developing affordable rental and homeownership housing for veterans, low-income families, the homeless, and the elderly. Since 1987, VBCDC has developed 575 units of affordable and market-rate housing — comprising 455 rental units currently owned and operated and 70 homeownership units — along with over 20,000 square feet of office and community space with a total development value of $90 million.

VBCDC's product portfolio consists of six core real estate assets, all supported by HUD Section 8 rental funds: VBC Apartments (30 units, Dorchester, 1990), Brook Avenue Cooperative (36 units of limited equity cooperative homes in Roxbury, 1998), Washington Heights (175 units across 19 buildings in Dorchester/Roxbury), Sonoma Maple-Schuyler Apartments (100 units across 9 buildings in Dorchester), Grove Hall Apartments (104 units across 14 buildings in Dorchester), and Rockville Park Apartments (10 units in Roxbury). Major renovations were funded through $44 million in HUD Demolition Disposition program funds (2003-2004). Complementary service offerings include Technical/Supportive Services for over 200 residents across the 455 rental units (asset management, community programming, Full-Time Resident Service Coordinator), HUD-certified Homebuyer and Foreclosure Prevention classes (500+ graduates over 12 years), and Veterans Services Coordination through referrals to Pine Street Inn, the VA, DAV, and the New England Shelter for Homeless Veterans.

The business model is fundamentally grant- and subsidy-driven rather than commercial. Revenue streams comprise HUD Section 8 rental payments (100% of rental units), city and state development grants, low-income housing tax credit equity, Federal Home Loan Bank financing, Massachusetts Housing Partnership funds, and program-related income from homebuyer classes. The organization operates with 1-10 employees, is led by President/Executive Director Harold Raymond (since 2009), and is structured as an independent non-profit corporation following VBC's 2009 dissolution. Geographic operations are concentrated in Boston (Dorchester, Roxbury, and Grove Hall neighborhoods), with homebuyer classes extending service delivery statewide across Massachusetts.

Name

Veterans Benefits Clearinghouse Development Corporation

Legal name

Veterans Benefits Clearinghouse Development Corporation

Website

https://www.vbcdevelopmentcorporation.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

1–10 employees

Short description

Veterans Benefits Clearinghouse Development Corporation (VBCDC) is a Boston-based non-profit founded in 1987 that develops affordable housing for veterans, low-income families, the homeless, and the elderly in Massachusetts. It owns 455 HUD Section 8 rental units and provides supportive services and homebuyer education to veteran and low-income residents.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Community Housing Services (62422), Services for the Elderly and Persons with Disabilities (624120)

SIC

Services-To Dwellings & Other Buildings (7340), Services-Health Services (8000)

akta.pro primary industry

Veterans & Military Family Benefits Administration (BPAIAKAI)

akta.pro secondary industry

Down Payment Assistance (DPA) & Homebuyer Subsidy Programs (FSALAKAE)

Keywords

• Affordable housing development
• Veteran housing services
• Supportive housing programs
• Homebuyer education
• Nonprofit housing management

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Housing Development: Development of affordable rental and homeownership housing for veterans, homeless, families, and elderly. Revenue derived from housing operations, Section 8 rental funds, and property management.
2. Grant and Government Funding: Funding from HUD Demolition Disposition program, city/state grants, low income tax credits, and Federal Home Loan Bank financing for housing development projects.
3. Technical/Supportive Services: Asset management services monitoring management companies and operating budgets for 455 units of rental housing. Services include monitoring capital improvements, Section 8 HUD and Mass Housing contracts, security issues, and capital reserves.
4. Homebuyer and Foreclosure Prevention Classes: Homebuyer classes and foreclosure prevention education certified by City of Boston, State of Massachusetts, and Department of Housing and Urban Development. Over 500 residents (majority veterans) graduated to date.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Veterans Benefits Clearinghouse Development Corporation (VBCDC) is a non-profit corporation formed in 1987 that develops affordable rental and homeownership housing for veterans, homeless individuals, families, and the elderly in Boston and Massachusetts. The organization owns and manages 455 units of rental housing across multiple properties, provides technical/supportive services to over 200 residents, and offers HUD-certified homebuyer and foreclosure prevention classes.

Product overview

Veterans Benefits Clearinghouse Development Corporation (VBCDC) is a non-profit housing development organization formed in 1987 that operates as a single integrated platform providing affordable housing development and supportive services for veterans and low-income families. The organization combines real estate development (managing 575+ units across six properties including VBC Apartments, Brook Ave Cooperative, Washington Heights, Sonoma Maple-Schuyler Apartments, Grove Hall Apartments, and Rockville Park Apartments) with supportive services including Technical/Supportive Services for residents, Veterans Services Coordination, and Foreclosure Prevention & Homebuyer Assistance programs. All housing developments are supported by HUD Section 8 rental funds, and the organization has developed over 20,000 square feet of office/community space valued at $90 million.

Differentiator

Problem solved

Functional benefit

Products and services

• VBC Apartments 30-unit family apartment building for veterans and family members at 495 Blue Hill Avenue in the Grove Hall section of Boston, supported by 100% HUD Section 8 rental funds, with a computer lab in the basement and VBCDC offices.
• Brook Ave Cooperative 36-unit new construction of limited equity cooperative homes in the Dudley Street Neighborhood Initiative area of Roxbury, featuring 1,400 square foot three-bedroom homes supported by HUD Section 8 rental funds.
• Washington Heights 175-unit low income family apartment complex located in 19 buildings in the Dorchester and Roxbury neighborhoods of Boston, supported by 100% HUD Section 8 rental funds with a computer lab and community room.
• Sonoma Maple-Schuyler Apartments 100-unit low income family apartment complex in 9 buildings in the Dorchester neighborhoods of Boston, supported by 100% HUD Section 8 rental funds with a computer lab and community room.
• Grove Hall Apartments 104-unit low income family apartment complex in 14 buildings in the Dorchester neighborhoods of Boston, supported by 100% HUD Section 8 rental funds with computer lab and community facilities.
• Rockville Park Apartments
• Technical/Supportive Services
• Foreclosure Prevention & Homebuyer Assistance
• Veterans Services Coordination

Quantifiable outcome

• Serving 200+ residents/veterans with supportive services across 455 rental units
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• Pine Street Inn - Veteran ServicescoreStrategic or Co-development PartnerVBCDC coordinates veteran services with Veteran Services at Pine Street Inn, located at 444 Harrison Ave, Boston, MA 02118. This partnership enables VBCDC to connect veterans who contact them with comprehensive veteran services and support.
• Tenant Associations (Washington Heights, Grove Hall, Sonoma Maple Schuyler)coreStrategic or Co-development PartnerVBCDC partners with tenant associations at three major property complexes to provide supportive services, operate Computer Network Centers and Community Rooms, sponsor afterschool/summer youth programs, community events, and elderly support services. Quarterly resident meetings are held to discuss issues.
• HUD (U.S. Department of Housing and Urban Development)coreStrategic or Co-development PartnerHUD provides Section 8 rental funds supporting 100% of rental units at VBCDC properties and $44 million in Demolition Disposition program funds for renovation projects at Washington Heights ($24M), Sonoma Maple Schuyler ($14M), and Grove Hall ($6M) apartments.
• Dudley Street Neighborhood InitiativecoreStrategic or Co-development PartnerBrook Avenue Cooperative was built on city-owned vacant land in the Dudley Street Neighborhood Initiative area of Roxbury. VBCDC's development was part of the broader neighborhood revitalization efforts coordinated with this initiative.
• Veterans Benefits Clearinghouse, Inc. (VBC)coreStrategic or Co-development PartnerVBC formed VBCDC in 1987 as its housing development arm. VBC was a social service agency that provided services to veterans and their family members from 1977 to 2009. VBCDC developed the housing while VBC provided supportive services to veterans under the 'Homeless to Homeownership' mission.

Scale indicators14 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Pine Street Inn: Boston-based non-profit providing homeless services including veteran-specific programs, with which VBCDC has a coordination partnership. Operates a similarly broad continuum of housing and supportive services for homeless populations including veterans in the same geography.
• New England Shelter for Homeless Veterans: Boston-based non-profit specifically serving homeless veterans in the same geographic market as VBCDC. Provides transitional and permanent housing with supportive services for veterans, directly comparable mission and target population.
• The Community Builders: National non-profit affordable housing developer and service provider operating mixed-income communities with on-site supportive services, similar to VBCDC's model of combining affordable housing development with resident services in urban neighborhoods.
• WinnCompanies: Major affordable and market-rate housing developer and manager based in Boston, developing and operating multi-family housing including affordable units with Section 8 contracts in the same Massachusetts market as VBCDC.
• Habitat for Humanity: National non-profit developing affordable homeownership housing for low-income families and veterans. VBCDC's 70-unit homeownership portfolio follows a comparable mission of creating paths to homeownership for underserved populations.

Broad incumbents

• Volunteers of America: Large national non-profit operating affordable housing, veteran services, and supportive housing programs across multiple states. Comparable mission of serving veterans and low-income families through housing plus services, though at vastly greater scale and geographic breadth.
• Boston Housing Authority: Public housing authority serving Boston with public housing and Section 8 vouchers. Operates the same regulatory framework (HUD Section 8) as VBCDC and serves overlapping low-income populations in Boston.
• LISC (Local Initiatives Support Corporation): National non-profit CDFI supporting community development through financing and capacity building for affordable housing developers like VBCDC. Comparable mission of supporting community-based affordable housing developers in low-income neighborhoods.

Regional players

• Dudley Street Neighborhood Initiative: Boston-based community development organization with which VBCDC partnered on the Brook Ave Cooperative. Operates in the same Roxbury/Dorchester neighborhoods pursuing comprehensive neighborhood revitalization through housing and community ownership strategies.

Others

• Massachusetts Housing Partnership: Statewide public non-profit housing lender that has provided financing for VBCDC projects. While not a direct competitor, MHP operates in the same affordable housing development ecosystem in Massachusetts and funds comparable projects.

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 rounds

Investors

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 Veterans Benefits Clearinghouse Development Corporation