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Article Courtesy of Daniel Island News. To view the original article, please click here.
Former Bucknell College defensive back John Henry, Jr. knows what to do when he gets the football.
Pick it up and run.
And that’s just what Humanities Foundation’s new executive director is doing – exporting Humanities Foundation’s non-profit workforce and senior citizen housing model throughout South Carolina and other Southeastern states.
"Our service area was originally in the Lowcountry and we’re now trying to grow our reach," said Henry, 34, who was the foundation’s vice president of real estate until his promotion last month. "We’ve expanded and are working on projects in Spartanburg County and upstate and our intention is to enter markets in Florida and Virginia. I’m very excited about it. Our plan is to grow within the Southeast and eventually expand to other states, too. We have a great model that’s been established."
As a non-profit developer, Humanities Foundation serves as a conduit to access non-profit development monies. It finances the projects, contracts with engineers, architects and builders to complete construction, and provides oversight to market, lease and maintain the property. The foundation also provides emergency financial assistance for housing heeds and education and awareness and technical assistance to organizations needing help in developing affordable housing.
Henry said the foundation expects to finish 240 units throughout South Carolina this year and hopes to expand those numbers to 400 annually throughout the state.
Since its founding in 1992 by Tracy and Robert Doran of the James Doran Company, the Humanities Foundation has developed more than 600 rental units of affordable housing – with another 156 units under construction and 72 units in pre-development – providing homes for more than 850 low-to-moderate-income individuals.
The Seven Farms Apartments, currently being built at 305 Seven Farms Drive on Daniel Island, is a Humanities Foundation project and is expected to be finished in November. It will offer 72 units for families.
Low-income housing tax credits and other code changes in 1986 provided the impetus for nonprofit workforce and senior housing projects in the U.S., Henry said.
"Each state has its own housing authority and our job is to find out the rules of the game in each state and how to play it," he said. "But, at the end of the day, it’s about finding the land and finding the market where you can assist and help people."
Henry developed his expertise on real estate and affordable housing issues while working as an attorney in Washington, D.C. He joined the Humanities Foundation in April 2005 at a time when the Seven Farms Apartments project encountered opposition from some local residents. A lawsuit filed by the Daniel Island Neighborhood Association is still pending.
Henry declined to talk about the controversy because of the ongoing litigation. But he’s optimistic that Seven Farms Apartments will be a great addition to the island.
"We hope that once this is built it will change perceptions of what workforce housing is," he said. "This is not the first time we’ve met opposition to our development projects. But it is disheartening at times. This is such a great project. It is indistinguishable from any other market multi-family project on the island and that’s how we try to change perceptions and views."
Finding land for affordable housing is difficult in the Lowcountry, according to Henry.
"We’ve had a housing boom nationally for four or five years and prices have been going sky high," he said. "Another exacerbating problem is condo conversion. It’s become fashionable to turn apartments into condos and that has reduced the multi-family housing stock. There’s a huge need for affordable housing in the Charleston area and we’re trying to plug that gap. But the reality is that incomes have remained fairly flat at the same time that there has been a huge spike in housing prices and real estate taxes. It’s very challenging for people to get by."
Despite the challenges, Henry said working on nonprofit housing is immensely rewarding. Here is a letter a staff member received earlier this month:
I had to write a note to let you know how much I enjoy my yard! I sit on the patio and read and when I look down my yard is absolutely beautiful. I love it!
Thank you,
Claire
"I was a real-estate attorney for six or seven years and also did a couple developments on my own," he said. "This is the best of both worlds. I really enjoy real estate development and there’s a special feeling when you’re able to help people. We frequently get letters from folks who tell us how much they love living in their new homes. That’s the icing on the cake. It gives you a warm feeling and makes you appreciate what you’re doing. Plus, it makes you work that much harder."
While Humanities Foundation expands its mission throughout the Southeast, Henry stressed that it won’t forget its roots. To date, the non-profit has built eight projects throughout the Charleston metro area. He said Humanities Foundation is also partnering with for-profit developers to create a mixed-use community in Charleston’s wharf district where workforce and senior housing is melded into traditional market housing.
"I’ve been here for a year and I think the future is bright for Humanities Foundation," he said. "We’re working in concert with the city of Charleston to identify land in the Lowcountry for affordable housing. In this business, you have to be creative and explore other opportunities and be willing to change. You have to be very innovative to stay afloat and remain relevant."
