CASA has reached its $25.5M construction goal, ensuring that the community can be built. Now, we need to focus on making sure the community has the resources it needs. Additional funding will go toward critical staffing, building our service partner programming, and preparing for the first two years of operating costs while the community gets up and running.  We also want to complete funding for the $2M King’s Ridge Sustainability Endowment through the North Carolina Community Foundation.

With more than 31 years of experience managing apartment communities for low-income populations, CASA is confident in the sustainability for King’s Ridge for decades to come. Operating support for King’s Ridge is necessary for the first two years while the building gets up and running.

Operating gifts to King’s Ridge will pay for ongoing building expenses and staffing costs. Building expenses will be similar to a typical landlord, and will include things like interior and exterior building maintenance, pest control, etc. Staffing costs will include staffing support unique to King’s Ridge—including a King’s Ridge Director, Tenant Liaison, compassionate property management, leasing specialists, Case Managers, volunteer activities, and service collaborations.

The King’s Ridge Sustainability Endowment at the North Carolina Community Foundation will support the long-term sustainability of King’s Ridge for decades to come.  The principal of the Endowment is protected, yet we can choose to take out up to 5% of its profit to supplement operating income.  The use of Endowment funds is limited to King’s Ridge operations, including staffing, maintenance, and repairs.  Our goal to raise 2M for the King’s Ridge Sustainability Endowment before opening day.  During the first two years of building operations, this fund will likely not provide enough of a return to fully support ongoing operations, which is why we’re also fundraising for building operations separately from the endowment.

Private donors—individuals, foundations, corporations, and faith communities made the first $7 million in investments to this project. Wake County responded with a $4 million investment and the City of Raleigh has contributed 10M.  Public and private investments have inspired one another, demonstrating how much we can do when we work together to reduce homelessness through housing. 

Yes. CASA is a 501c3 nonprofit.