Discover all about CREA & what makes its culture so special!
Culture CODE
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Culture makes people understand each other better. And if they understand each other better in their soul, it is easier to overcome the economic and political barriers. But first they have to understand that their neighbor is, in the end, just like them, with the same problems, the same questions.”
PAULO COELHO BRAZILIAN AUTHOR, THE ALCHEMIST
About Us
Our story doesn’t start in someone’s garage, a college dorm room or through a dream. It started with Jeff Whiting seeing a need in communities across the country and wanting to be a part of the solution. Since 2001, CREA has provided inventive financial solutions that contribute to the creation of affordable housing across the country. With employees like you, working with investor, developer and community partners who align with our mission, we’re guiding the way toward a vision of affordable housing that everyone can be proud of. While our origin story might not be made for the big screen, it doesn’t matter nearly as much as how our story continues today. Our story continues at every closing, groundbreaking, ribbon cutting and grand opening. Our story continues at every internal meeting, industry conference, and client dinner. Our story continues within every community built, and each affordable home created or preserved. Through the creation and preservation of affordable housing, as well as the access it provides to people and families for the opportunity to not just reside, but live - CREA’s story continues.
We’re glad you’re here to be part of our next chapter.
“Okay, but what’s with the llama?”
Somewhere in our story, we realized that baby llamas are called crias and, well, we simply couldn’t resist. Can you blame us?
At CREA, we believe that opportunity starts with a safe place to call home . With this mission at the heart of our business, we respect and value partnerships and conduct ourselves with integrity in all that we do. As we adapt and navigate an ever-changing environment, the need for affordable housing continues to grow. By upholding our values, we put our mission into action every day. It is this purpose that guides our passion. Vision Affordable housing that everyone can be proud of. Mission CREA believes that opportunity starts with a safe place to call home. CREA is a values-driven company, passionate about leveraging financial programs and partnerships to eliminate barriers and enhance the quality of life for residents within thriving and accessible communities that uphold the dignity of affordable housing. Values We work as a family, investing in each other, worthy causes, and the communities we serve. We have integrity in all that we do; we embrace differences and treat others with kindness and respect. We believe that, with teamwork, we can accomplish anything and pursue inventive solutions for our clients. On a Mission
CREA’s Escalator Speech We’ve all heard of elevator pitches, but what about an escalator speech? Learn about what we do - from the first step, to deeper level details. What We Do
CREA helps in the creation of affordable housing across the country.
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We are a tax credit syndicator.
Tax credit syndicators raise investor capital to provide developers with valuable resources necessary to the creation of affordable housing.
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Investors benefit from tax credits awarded to affordable housing communities, and CREA helps protect investments by managing the asset and ensuring low-income housing tax credit (LIHTC) compliance.
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CREA generates revenue on a percentage of total equity raised and annual asset management fees through its partnerships with investors and developers.
About Us CREA helps eliminate financial and social barriers experienced by people and families across the country through financial solutions and connections with industry partners. New Name. Same Company. In the beginning, we were known as City Real Estate Advisors, under the City Financial Corporation family. In June 2016, we became CREA, LLC when acquired by Omni Holding Company as a wholly-owned subsidiary. Since then, we’ve remained a self- guided business unit, managed by existing CREA senior team. 20+ Years, And Growing Our proverbial doors opened in Indianapolis in December 2000, with our first closed transaction in March 2002. Since then, we’ve opened seven additional offices and hired over 150 employees. In collaboration with CREA employees and partners, our work has raised $8.3B in total equity, resulting in 737 properties and 65,000 affordable homes developed (as of 1/1/2022) . What Now? CREA has elevated its commitments to community and access to all by centering on diversity, equity and inclusion from the inside out. This aligns with our investor and developer clients attention to social impact, Environmental, Social and Corporate Governance (ESG) resources, and support of Minority- and Women-Owned Business Enterprises (MWBE). Find more details on specific initiatives and impact on our 2021 Highlights page. Who We Are
THE CREA STORY Our Story
A PLACE TO WORK Putting a longstanding business plan into action, Jeff Whiting opened CREA’s doors to investor and developer clients, offering financial programs to facilitate the creation of affordable communities. A PLACE TO GROW CREA began carving out space in the industry by establishing a reputation of integrity with its clients and remaining steadfast in protecting that reputation. A PLACE OF PURPOSE While attending a grand opening, key team members learned about a young resident’s journey from living in a car to a safe, affordable home. In recognition of the work CREA does, this was a pivotal point of embracing a broader purpose and impact. A PLACE FOR WELLNESS CREA is committed to supporting the health & wellness of employees. From expanded benefits and resources - to flexibility and encouraging work/life balance, our employees are our top priority.
A PLACE WITH HEART Renewed mission, vision and values align with CREA’s focus on opportunity starting with a safe place to call home.
A PLACE FOR EVERYONE With an emphasis on community & social impact, CREA is making strides toward creating a more equitable and diverse culture where everyone belongs.
Our Journey CREA Office & Employee Growth Timeline 2001-2021 Don’t stop, believin’! Oh, sorry. Wrong journey.
2001
March 2001: CREA is formed under Jeffrey Whiting March & Sept 2002: Closes first transaction and posts profit
2006
Jan. 2006: Employees 6
Oct. 2009: Boston office opens Oct. 2010: Austin office opens Jan. 2011: Employees 41 April 2011: Portland office opens
2011
Feb. & Aug. 2015: Sarasota & San Diego offices open Jan. 2016: Employees 71
2016
Jan. 2017: New York City office opens June 2018: CREA hires theirs 100th employee
2021
May 2021: CREA Foundation, Inc. established Dec. 2021: Employees 139
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“At CREA, it’s people first .” THUY MILLER SVP, CREDIT & UNDERWRITING
2021 Highlights
COMMUNITIES 85
8,499 AFFORDABLE HOMES PRESERVED OR CREATED
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INCLUSION ADVISORY COUNCIL (IAC) Established IAC to lead DEI efforts
RENEWED MISSION, VISION & VALUES
RE- ORGANIZED COMPANY STRUCTURE
HEAD OF SOCIAL IMPACT CREA created & hired a new role as Head of Social Impact to lead all philanthropic initiatives.
DEI EDUCATION Expanded dialogue around and education of diversity, equity & inclusion within employee base
MONTHLY COMPANY- WIDE MEET-UPS
EMPHASIS ON GROWTH Grew total employee base by 20% (adding 21 new EEs)
“HELPING STUDENTS CROSS THE FINISH LINE” Established CREA Foundation, Inc. as a 501(c)3 with a focus on college preparation, access & success for youth & adults in CREA- specific affordable communities. $244 K $23 K RAISED DIRECTLY FROM EMPLOYEE DONATION SUPPORT DURING OPEN ENROLLMENT SEASON RAISED IN FUNDS FROM VARIOUS PHILANTHROPIC SOURCES, FROM SEPTEMBER THROUGH DECEMBER
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