08 November 2017

Profile of Eric Paine, CEO Community Development Partners


Blogger Note: Taken from October 2017 Issue of AFFORDABLE HOUSING FINANCE
Deep Thinker
Eric Paine leads Community Development Partners with perseverance and passion to build attainable affordable multi-family housing that inspires creative living that is equitable and inclusive.
[Image taken by MesaZona blogger yesterday at Grand Open Celebration here in Mesa, AZ for El Rancho Phase 2: El Rancho Del Sol]                             
Eric Paine took a big leap in starting his own affordable housing development firm. With a background in market-rate housing and home building, he decided to dig in and learn more about the affordable side of the industry. Then, at the end of 2011, he started Newport Beach, Calif.–based Community Development Partners (CDP) with his brother, Kyle.
Link > http://www.housingfinance.com/management-operations/deep-thinker_o
“There was so much inspiration,” the 37-year-old says. “I thought affordable housing would be a great place to start with a tax credit equity structure and with it being mission based.”
The move has been a success. CDP completed its fifth full year of operations in December, developing 11 projects with almost 600 units in Arizona, California, Nevada, and Oregon.
“Being a start-up is difficult,” Paine says. “Perseverance and passion: That’s what got us where we are.”
CDP is committed to thinking outside the box on its developments, keeping innovation at the forefront.
A recent example is its Rocky Hill Veterans Housing development in Vacaville, Calif. The 39-unit community is being built with modified steel shipping containers.
“There have been a lot of learning curves, but we’re really happy we decided to make the investment of time, energy, and resources to see a new type of construction through to fruition,” he says. “Our investment will hopefully yield a less-expensive product going forward.”
(Image credit: Douglas GatesEric Paine, founder and CEO, Community Development Partners.)
Looking back at what’s been accomplished so far, Paine says he feels the firm is in a good place in terms of the quantity, quality, and integrity of its developments. However, he adds, there’s room for improvement diving deeper on the services side and resident coordination. “We’ll be looking more at the back end and how we can improve the lives of our residents,” he says.
Paine and his partner, Kate, have a son and split their time between California and Oregon. He also sits on the boards of two nonprofits, the Ecology Center in San Juan Capistrano, Calif., and Alberta Main Street in Portland, Ore.
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Blogger Note: It hasn't always been easy to build attainable and affordable housing, even in the company's home town where NIMBYs frequently resist
Original Source > LA Times
Angry residents shout as city OKs $2M for affordable housing project in Newport Shores
Hannah Fry in Daily Pilot
". . . the allocation that drew opposition was a $1.97 million grant to Community Development Partners for the firm to acquire and rehabilitate a 12-unit apartment building in Newport Shores and convert it for affordable housing.
The money dispersed Tuesday is part of a fund that housing developers could pay into if they were unable to build affordable housing into their projects to comply with state mandates, according to city staff.
Several Newport Shores residents objected to the city putting money toward the project at 6001 Coast Blvd. for seven affordable-housing units for veterans and five for low-income seniors. Preference would be given to seniors who also are veterans. . . Some of the project's critics cited the high cost of developing in Newport Shores rather than in than another area of the city where the money would stretch further to cover more housing units. Others expressed concerns about the development's close proximity to a neighborhood park, alleging that the housing project would change the character of the community. . .
Newport Beach officials began requesting proposals years ago from organizations and housing operators in need of funds to improve or expand the number of affordable units in the city, according to city staff.
Paine said he and his brother, both longtime Newport residents who run Community Development Partners, felt compelled to answer the city's request.
"We feel that we can provide a superior product and service to that portion of the population," Paine said. "We had targeted veterans specifically, knowing they were underserved in Newport Beach."
Councilman Tony Petros, who represents the Newport Shores area, scolded Community Development Partners for what he felt was inadequate public outreach on the project to ensure that residents were comfortable. But he said that does not diminish the project's benefits.
"This is something that will add certainty to the Shores area," Petros said. "If anything, it will create an opportunity for us to get alongside those who have made the ultimate sacrifice for us — veterans and seniors

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