Freedom’s Path Waco is located on the Doris Miller VA Medical Center Campus. It includes two components - the adaptive re-use and historic renovation of three existing buildings to generate 26 studio units and a new building with 8 studio units designated for the mobility and sensory impaired, a large community room, technology center, laundry and fitness rooms. A leasing preference will be provided to Veterans who are homeless or near homeless.
Freedom’s Path Waco is a public-private partnership utilizing an Enhanced Use Lease (EUL) provided by the U.S Department of Veterans Affairs (VA) to develop a Veteran-centric, permanent-supportive housing community in proximity to VA services and programs. This structure allows the VA to repurpose underutilized property through leasing arrangements with private sector entities to address Veteran homelessness. According to the 2023 Annual Homeless Assessment Report, Texas had 2,036 homeless Veterans. This housing, coupled with other VA initiatives, will reduce the overall number of homeless Veterans, toward the goal of having no Veteran endure the trauma of homelessness.
Financing consists of Historic Tax Credits, 9% Low Income Housing Tax Credits, a $ 2.85 M VA Capital Contribution funded from the PACT Act , Federal Home Loan Bank of Dallas AHP funding through Texas Capital Bank, a loan from the Texas Department of Housing and Community Affairs, a forgivable loan from the City of Waco, a grant from the Home Depot Foundation, and a pre-development loan from BlueHub Capital. The Enterprise Community Loan Fund is the construction lender. Raymond James Affordable Housing Investments and Cabretta Capital are providing the tax credit equity. The Waco Housing Authority will provide Project Based HUD-VASH and Section 8 vouchers for Veterans. Freedom's path property is Managed by Waco Public Facilities Corporation, an affiliate of Waco Housing Authority.