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News Release An Innovative Venture To End Homelessness


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News Release An Innovative Venture To End Homelessness

  1. 1. News Release July 19, 2007 Contact: Kai Stansberry/323·644·2212 FOR IMMEDIATE RELEASE An Innovative “Venture” to End Homelessness PATH Ventures to launch new integrated housing models for LA’s homeless (Los Angeles) -- Local housing officials and community leaders join efforts to introduce new housing models for PATH Ventures, a nonprofit housing development agency. PATH Ventures is promoting new integrated housing models for Los Angeles County, as well as launching new efforts to build 1,000 units of permanent affordable housing over the next five years. Currently, 120 housing units are in development. John Molloy, retired CEO of the Community Redevelopment Agency of Los Angeles, and Harreld Adams, the former Los Angeles Homeless Services Authority (LAHSA) CEO, are among other former public officials and community leaders in the housing and banking industries comprising the PATH Ventures Board of Directors. “Los Angeles needs housing developers who will bring innovation and entrepreneurship to address our housing crisis," said Los Angeles City Council President Eric Garcetti. “I'm excited about the road that PATH Ventures is going to take us down.”
  2. 2. The PATH Ventures board recently appointed Shane Murphy Goldsmith as its Executive Director. Goldsmith is the former Senior Housing Legislative Deputy for Councilmember Garcetti. “Shane Goldsmith has been a trusted advisor and a friend to me for many years,” said Garcetti. “Her knowledge of housing policy is only matched by her passion for ending homelessness. I’m confident that her leadership will help PATH Ventures really make a difference.” “To build 1,000 units of housing over the next five years is a hefty goal,” said Julie Downey, Deputy City Attorney, City of Los Angeles (Ret.) and PATH Ventures Board President. “I am confident that Ms. Goldsmith’s extensive housing and homelessness experience combined with her background in policy will enable her to provide results-oriented leadership to lead the PATH Ventures team in the right direction.” Other PATH Ventures Board members include notables such as Sharon Fong, Union Bank; relocation specialist Robert Shober; retired Community Development Department executive Barker Khorasanee; Public Interest Attorney Paul Freese, and Fair Housing expert Sharron Hillary. “We are grateful to have such extensive leadership at PATH Ventures,” says Joel John Roberts, chief executive officer of PATH Partners (PATH Ventures is a member of PATH Partners. See for more information). “The significant lack of affordable housing and the overwhelming number of people who are homeless in Los Angeles County calls for more leadership in this area.” As a nonprofit affordable housing and economic development agency, PATH Venture’s mission is to improve individual lives and communities by increasing quality affordable housing and creating opportunities for economic, civic, and personal empowerment. This new housing initiative is part of the agency’s strategic mission to develop more integrated housing opportunities for people in the Los Angeles region. Some of PATH Ventures’ integrated housing models include:
  3. 3. Step Housing – Residential developments that have both permanent affordable housing and temporary interim housing units under one roof. In this model, long-term rents support the operation of temporary interim housing. Temporary housing units become converted to permanent housing units after a set period of time. Villas – Residential developments that offer housing to diverse populations of people in need, including homeless families, seniors, transitional-aged youth, adults, and chronically homeless individuals. Direct Housing – Housing that provides immediate entry into permanent housing through a subsidized leasing program. This type of housing utilizes and coordinates existing market-rate rental housing units that are scattered throughout the community. About PATH Partners Since 1984, PATH Partners and its family of agencies have been committed to breaking the cycle of homelessness by providing services and building housing for people in need. Now a regional organization with national influence, PATH Partners also helps communities integrate support services with permanent housing through capacity-building, creative partnerships and community mobilization. ###