HOW BV CAN ASSIST WITH YOUR PROJECT HOMEKEY
Bureau Veritas can help your team during the acquisition process with timely due diligence assessments.
California’s $750 million program, Project Homekey, is placing an immediate focus on housing the State’s homeless when they need it most. The program will fund the conversion of a variety of housing types, including (but not limited to) hotels, motels, vacant apartment buildings, and residential care facilities into interim or permanent, long-term housing for the homeless.
Estimates suggest that the program could house 5.5% of the State’s unsheltered homeless population, starting with those who have tested positive for COVID-19 and need to safely quarantine.
The California Department of Housing and Community Development (HCD) will be administering $750MM of the allocated Project Homekey grant funds and these funds will be available through the end of the 2021 calendar year.
To complete the purchase of these properties, local governing agencies, housing authorities, affordable housing developers, and non-profits may be required to get real estate due diligence performed including property condition assessments, environmental site assessments, and other inspections. Bureau Veritas is working with our affordable housing developer clients to provide these assessments in a timely manner while meeting ASTM requirements.
BV has regional staff throughout California who have completed millions of square feet of technical assessments.
Let us help you execute your plans to contribute to the Project Homekey mission.