Frequently Asked Questions
- Is this a public housing project, reliant on government funding?
- Is Angel Oak a co-housing project?
- Can anyone live in an Angel Oak community?
- How does someone get accepted into Angel Oak Communities?
- Is this a housing complex for people with disabilities – developmental and/or physical?
- What makes Angel Oak Communities sustainable?
Is this a public housing project, reliant on government funding?
1. No, Angel Oak's model is to create housing using a hybrid model of funding. We use the sales of lifeleases to raise the capital cost of the project and the rental income to pay for the ongoing operational costs of the building. Government funding is not required to build or sustain the community, but we do hope to work with government's to increase their housing stock drastically by using this model.
Is Angel Oak a co-housing project?
2. Not exactly. We are a hybrid model. We've taken the best of each housing model and brought them together to form Angel Oak Communities. We allow people to purchase or rent their units. We operate the building as a co-operative sharing in the maintenance and management of the building. And becasue we are a not-for-profit organization we take the profits and re-invest them into making the building sustainable.
Can anyone live in an Angel Oak community?
3. Yes. Our communities are reliant on diversity. We welcome all that want to live in a supportive, all-inclusive community. Our focus is on helping people that need safe, affordable housing. Our buildings are 100% handicap accessible and promote independent living.
How does someone get accepted into Angel Oak Communities?
4. Instead of selling units on the open market, people in each community will apply to purchase a life lease or rental. Applicants will go through an interview process where the concept will be fully explained. Because Angel Oak will have residents will special needs, seniors and students, applicants will need to understand the supportive role they will be expected to play in making Angel Oak a success
Is this a housing complex for people with disabilities – developmental and/or physical?
5. Our communities will be totally inclusive. We will focus on helping families find housing for adults with disabilities; however, these tenants will be fully integrated into the overall community.
What makes Angel Oak Communities sustainable?
6. Angel Oak believes that affordable housing models in the past did not plan well for repair and maintenance costs and the rising costs of utilities. Because most affordable housing projects are rentals, the only way to cover these rising costs is to increase the rents. This creates a greater financial strain on both the government and it's tenants. And there is no reversing the spiralling costs.
Our model is different. We raise money through families, corporations and private individuals that want to invest in sustainable living, not just affordable living. Our communities are not segregated, they're inclusive. Our buildings will generate power, jobs, food, education, and most importantly a sense of belonging! By investing in the sustainability of the community, we insure its viability for generations to come.