Aimco Partners with Camillus House and Provides $1 Million Contribution to Advance Workforce Development in Miami

MIAMI--(BUSINESS WIRE)-- Apartment Investment and Management Company (“Aimco”), a diversified real estate investment company, has pledged $1,000,000 to Camillus House to support expanded workforce development programs.

In discussions with Miami’s civic and community leaders it became clear that despite a strong job market, many of Miami’s residents don’t possess the necessary skills or experience to obtain better-paying jobs and are, therefore, unable to benefit from Miami’s rapidly growing economy. As a major investor in South Florida, it is important to Aimco that those at all levels of the economic spectrum have the opportunity to excel and in turn, contribute to the broader community.

Since its founding in 1960, Camillus House has been a pillar of the Miami community. Created to provide meals and spiritual comfort to homeless Cuban exiles and other poor and hungry Miamians, Camillus House has grown steadily into one of the largest providers of services to the most vulnerable population in the community. Camillus House houses more than 1,700 people nightly through its 11 residential facilities and scattered-site apartments across Miami-Dade County. Some of its programs include Day Center services, Specialized Street Outreach programs, Homeless Prevention initiatives, and comprehensive workforce development and life skills programming.

“Many people experiencing homelessness want to work, but without the necessary training and skills it’s extremely difficult for them to earn enough income to move forward,” explained Hilda M. Fernandez, Camillus House CEO. “Thanks to this critical and very generous multiyear grant from Aimco, we can now expand our workforce development program to provide the guidance, support, and vocational training that can help prevent homelessness and change the lives of the great many men and women we serve throughout Miami-Dade County.”

In partnership with Aimco, the Camillus House Workforce Development Initiative will provide opportunities to Camillus House residents such as participation in construction trade programs operated by Florida International University and funded by Southeast Overtown/Park West Community Redevelopment Agency, an eight-week culinary certificate through the Miami-Dade College Culinary Arts Program, and employment opportunities with the Downtown Enhancement Team through the City of Miami’s Downtown Development Authority and Omni Community Redevelopment Agency.

In addition, through its Aimco Cares program, Aimco will sponsor scholarships to individuals in the Camillus House program designed to remove barriers to employment for those looking to obtain or maintain a job. The scholarships will cover job-related costs, such as bus passes, licensing fees, uniforms, classes, and similarly required ancillary costs crucial to succeed in gainful employment opportunities.

“Aimco Cares’ mission is to empower the most vulnerable by giving them the tools required to improve their quality of life,” said Jennifer Johnson, Aimco’s Executive Vice President and Chief Administrative Officer. “Being able to obtain and maintain higher-paying jobs is the building block for a long-term and sustainable solution for many Miami residents. As a real estate developer, it is our responsibility to give back to the communities in which we are active and passionate. Aimco is thrilled to be part of the Miami community and looks forward to future investments in the City and its residents.”

About Aimco

Aimco is a diversified real estate company primarily focused on value add, opportunistic, and alternative investments, targeting the U.S. multifamily sector. Aimco’s mission is to make real estate investments where outcomes are enhanced through our human capital so that substantial value is created for investors, teammates, and the communities in which we operate. Aimco is traded on the New York Stock Exchange as AIV. For more information about Aimco, please visit our website www.aimco.com.

About Camillus House

Camillus House has provided humanitarian services to persons who are poor and homeless in Miami-Dade County, Florida since 1960. As a ministry of the Hospitaller Order of St. John of God, Camillus House was originally established to serve Cuban exiles. From its humble beginning as a small soup kitchen, Camillus has grown into a full-service organization offering a comprehensive “system of care” including food, clothing, emergency, transitional and permanent housing, physical and mental health care, and substance abuse treatment.

Source: Apartment Investment and Management Company

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Apartment Investment & Management Co. (Aimco)
Symbol: AIV
CIK: 922864
Exchange: NYSE
Founded: 1994 (30 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Residential

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Last updated: 2024-07-05 12:57:01 PST