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Forbes
6 hours ago
- Business
- Forbes
Social Innovation At Covenant House: Affordable Housing For Youth
Bill Bedrossian, President & CEO, Covenant House and Derrick Cooney, Manager of the Linden Commons ... More housing program at grand opening of Covenant House's Linden Commons program With a shortage of 7.3 million affordable rental homes for low-income renters, and skyrocketing housing costs, youth homelessness has become one of the country's most urgent and intractable social problems. But a social innovation from Covenant House International has begun to change the game. The organization's Affordable-For-Youth Housing (AFYH) model is reimagining what housing looks like for young people who have aged out of foster care, fled unsafe homes, or been failed by the support systems that are designed to help them. Unlike traditional approaches, AFYH blends compassion with cost-efficiency, structure with flexibility. In October 2023, Covenant House California (CHC) opened Linden Commons, its first AFYH facility, with 12 studio apartments. In November 2024, CHC expanded with the 16 apartment Olive Tree Commons. More programs are on the way in other cities in the U.S. and Canada. To find out more about how Covenant House is bringing innovation to an issue where high cost and bureaucracy have been impediments to action, I spoke with four people who are part of the team that is making affordable housing a reality for youth. Bill Bedrossian, President & CEO, Covenant House International, Sarah Yun, Vice President, Young Adults Forward Fund, Whittier Trust - a major funder of the initiative, Mike Kibler, Managing Partner, Kibler Fowler & Cave and Board Chair of Covenant House California, and Derrick Cooney, an alumni of Covenant House in Los Angeles and who is now Manager of the Linden Commons housing program. Bedrossian has been at the forefront of this issue for more than 10 years, first as President and CEO of Covenant House California and more recently as the leader of Covenant House International. 'Like most agencies, for many years we were following along with federal government programs for funding,' said Bedrossian. "We did shelter. We did transitional housing. We did rapid rehousing. But we couldn't figure out how to make permanent supportive housing work for young people." Rapid rehousing programs offer rent subsidies for up to two years. But when those run out, youth earning minimum wage can't cover market-rate rents. Too often, they end up back on the streets. A 2017 Chapin Hall study found that more than 4.2 million youth experience homelessness each year. And the situation for youth is getting worse: HUD reported a 39% increase in family homelessness in 2024 alone—the highest jump of any age group. Beyond the data are people like Derrick Cooney, a former Covenant House resident. 'A lot of people will walk by a homeless person and say,' that person just didn't try'. But they really did try, they just didn't have any help,' said Cooney. "I left Skid Row and found Covenant House. I started developing hope." "We had to do better," said Bedrossian. 'Today, Derrick is not only housed but managing the very kind of housing that changed his life.' AFYH was created to bridge the gap between emergency shelters, Covenant House's transitional living program, and true independence. Its core principles are dignity, stability, flexibility, and affordability. Rent is set at roughly 30% of a youth's income—not a flat fee that assumes all youth earn equally. There's no time limit. There are no mandatory support services but support is available for those who want it. And perhaps most importantly, youth can stay through setbacks—a lost job, a medical emergency—without facing eviction. "It's the kind of grace that parents offer their children," said Bedrossian. "But that rarely extends to homeless youth." Prior to AFYH, youth went from a shelter to stable living in the Covenant House facility with a roommate. At Covenant House they had access to wrap around support services, drug counseling, and job training. 'After a couple years could they finish their high school degree, get a job and have a little money in the bank,' said Kibler. 'Then we could get them into subsidized off-campus apartments where they could start to live more independent lives. It was Bill's vision to expand the continuum to affordable housing because, arguably, the biggest societal problem in Los Angeles is the lack of affordable housing.' The organization had never developed and owned projects like this, but had the core capability and a board that, according to Kibler, 'was extremely supportive right out-of-the-box.' Bill Bedrossian, President & CEO, Covenant House and Derrick Cooney, Manager of Covenant House's ... More Linden Commons housing program at the grand opening in Los Angeles. According to Yun, building a single unit of affordable housing in California can cost close to $1,000,000 a unit. Linden Commons, the first AFYH program, is a 12-unit converted motel in Los Angeles that cost $3.3 million - a fraction of the cost of typical affordable housing projects. 'We felt like our sweet spot was 12 to 20, maybe 25 apartments where young people are living,' said Bedrossian. "We chose a small building because we knew from experience that more than 20 units without staffing can become chaotic," said Bedrossian. The model works because it's lean. "This is how you attract donors and investors," said Yun. "You show them it's possible to build something quickly, at scale, that changes lives. People moved in within six months of Covenant House handing us the listing. Out of 150 projects we've funded, this stands out. Not just because it's effective, but because it's fast and scalable." At a time when many charitable organizations are struggling to stay afloat, Covenant House's AFYH model has led to more support from its board and from other philanthropic donors. 'Covenant House's board members didn't just approve AFYH—they helped to fund it. "Some who had never donated more than $10,000 gave six figures," said Bedrossian. "It wasn't just charity. It was legacy." 'We contributed half of the purchase cost of Linden Commons and financed the other half with a one percent interest loan that would buy the organization time to run a capital campaign and raise money from their other supporters,' said Yun. 'By charging lower than market rent for the units, Covenant House could generate enough cashflow to service the debt and operational costs. We ended up forgiving the debt portion a year later. So basically we financed the entire acquisition.' Kibler said AFYH was a turning point. "Once our board saw the impact, it snowballed. They stepped up with $2 million to support the next wave of projects." AFYH has been hugely successful. 'Our two sites in LA that are online now are both fully occupied with youth who went from street outreach to emergency shelters through the entire continuum,' said Kibler. 'Now they have stable lives in these affordable housing units that they wouldn't otherwise be able to afford.' Cooney sees the value of AFYH firsthand. Youth in AFYH are doing more than surviving. They're saving money, pursuing education, and dreaming big. "You've got to be superhuman to wake up on concrete and still try to improve your life," said Derrick. "Now I'm working. I'm saving. I'm building a future." 'Derek's saving money and he's dreaming big,' said Bedrossian. 'We're not just providing a safe place for young people to live that they can afford. They're being inspired and thinking about so much more for themselves, and they're working hard to get it. That's how we know it's working.' AFYH is expanding. Programs are underway in Northern California using modular homes, and new sites are planned in Boston, Dallas, Detroit, New York, Toronto, and Vancouver. 'At Covenant House, we want to lead a game changing movement,' said Bedrossian. 'We'd like to develop 1000 plus of these units over the next 10 years and encourage other organizations to do the same thing in every community where young people are struggling to survive. AFYH is proof that affordable housing for youth is possible. 'Bill is rolling out this model,' said Kibler. 'He's trying to replicate it in other cities by showing other Covenant Houses what we did and how well it's worked.' The organization is also hoping that large developers could also allocate a portion of their housing stock to affordable housing for youth and other vulnerable groups. 'My hope is that people will see the value of having young people like Derrick and others who are working hard contributing to society, paying taxes, doing everything they're supposed to do. And, that companies running affordable housing apartment buildings will recognize that the intrinsic value to society is so much bigger than a lower return on their investment.' Yun observes that in the wealthiest cities in the world, like Toronto and LA and San Francisco, our neighbors are living worse than our pets. 'This is an investment in human potential. If we don't help people to cover their basic needs, our society won't have incredible business leaders, politicians, artists or people like Derrick.' 'After giving me another shot and my first managing job at an apartment building, now the dream became bigger,' said Cooney. 'I want my own apartment building for youth and to help out new youth and continue with what Covenant House has started.'
Zawya
29-05-2025
- General
- Zawya
Youth Co:Lab Hong Kong Dialogue Highlights the Urgent Need for Youth Mental Health Solutions and Support
Citi Foundation and United Nations Development Programme (UNDP) remain steadfast advocates for innovative and collaborative solutions to empower youth HONG KONG SAR- Media OutReach Newswire - 29 May 2025 - Over 400 youth workers, academic professionals, policy makers and mental health practitioners convened at the Youth Co:Lab Hong Kong Dialogue (HK Dialogue) on May 21 to advance solutions addressing mental health needs of young people. Co-led by Citi Foundation and UNDP, and organized in partnership with the Hong Kong Council of Social Service (HKCSS), the HK Dialogue was held in conjunction with the S+ Summit & Expo that attracted over 13,000 attendees over two days. The dialogue explored key challenges faced by young people with mental issues, examined related policy implications, and highlighted holistic support strategies and best practices. The event also featured an interactive exhibition, providing participants with valuable resources and information on youth mental health. "Citi and the Citi Foundation have long invested in empowering young people and young social entrepreneurs in the communities we serve. Through impactful programs such as Youth Co:Lab, we strive to create an enabling environment that incubates innovative solutions developed by young people for some of the most pressing social issues," said Vicky Kong, Chief Executive, Citibank (Hong Kong) Limited. "With the significant rise in young people facing mental health challenges in recent years, there is an urgent need to take action. We aim to achieve exactly that through the ecosystem that Youth Co:Lab has built over the years." Beniam Gebrezghi, Programme Specialist, Civil Society and Youth, UNDP Asia - Pacific said, "Through Youth Co:Lab initiatives, we have seen young people across the Asia-Pacific region drive innovative solutions to address mental health challenges and create meaningful change for the communities they serve. This reinforces our commitment to advancing mental health advocacy, not just in Hong Kong, but throughout the region. Prioritizing the mental well-being of youth is a collective responsibility. By empowering young people with the tools and support they need, we are not only helping them thrive but also fostering a generation that will lead us toward a more resilient, compassionate, and sustainable future. The well-being of our youth is the foundation upon which we build tomorrow's leaders." Grace Chan, Chief Executive, The Hong Kong Council of Social Service said, "It is commendable that the Citi Foundation and the UNDP have co-created the platform of "Youth Co:Lab - Hong Kong Dialogue", which brings together youth and adults from various sectors to collaborate in advancing service development. This year's theme focuses on youth mental health. Given the significant needs in this area, we aim to foster cross-disciplinary dialogue and encourage youth participation to create innovative, youth-friendly support systems. We hope for close collaboration and communication to create a more friendly social environment for our young people." Dr. Lam Ching Choi, Chairman of the Advisory Committee on Mental Health, said, "Genuine relationships between people are the foundation of mental health. Our society needs to reflect on our cultures and expectations, considering whether adults are providing space for youth to be autonomous, enabling them to explore their own paths. Human-centered policies and services are also crucial, as they allow young people to feel understood, accepted, and supported." Youth Co:Lab, co-created in 2017 by Citi Foundation and the UNDP, is the largest youth movement for empowerment, social entrepreneurship, equality, and social inclusion in the Asia-Pacific region and has supported young people in 28 countries and territories. Since its inception, activities supported by Youth Co:Lab such as the Hong Kong Dialogue have reached 300,000 participants across the region. For high-resolution photos, please download via this link Photo 1 Caption : Community partners and young people gathered at the Youth Co:Lab Hong Kong Dialogue to explore solutions to address the pressing youth mental health needs in the city. Officiating at the opening ceremony were (from left to right): Dr. Lam Ching Choi, Chairman, Advisory Committee on Mental Health Beniam Gebrezghi, Programme Specialist, Civil Society and Youth, United Nations Development Programme Asia-Pacific Vicky Kong, Chief Executive, Citibank (Hong Kong) Limited Natalie Fok, Youth Speaker Chara Yau, Youth Speaker Grace Chan, Chief Executive, The Hong Kong Council of Social Service Photo 2 Caption : Vicky Kong, Chief Executive of Citibank (Hong Kong) Limited, addressed the audience at the Youth Co:Lab Hong Kong Dialogue opening ceremony. Photo 3 Caption : Dr. Lam Ching Choi, Chairman of the Advisory Committee on Mental Health, shared his insights on mental health policy at the Youth Co:Lab Hong Kong Dialogue. Photo 4 Caption : Youth Co:Lab Hong Kong Dialogue featured an interactive exhibition – "One in Six Wellness Sanctuary", to enhance public understanding of youth mental health challenges. Hashtag: #Citi The issuer is solely responsible for the content of this announcement. About Citi Citi is a pre-eminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services. Additional information may be found at | X: @Citi | YouTube: | Blog: | Facebook: | LinkedIn: About Citi Foundation The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit About UNDP UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations build integrated, lasting solutions for people and the planet. Learn more at or follow at @UNDP. About HKCSS The HKCSS is a statutory body established in 1947. Together with our Agency Members, we uphold social justice and equality in our mission to advance the well-being of the Hong Kong community. The HKCSS is committed to building an impact-oriented, collaborative and innovative social service sector, and co-creating a better society with stakeholders across different sectors. The HKCSS has over 520 Agency Members, with service units throughout Hong Kong, providing high-quality social services to those in need. For more information, visit | Facebook: Citibank
