Cantwell-Anderson, Inc. (CAI), the parent company, was first formed in November of 1979 and engaged in the development of single-family homes and condominiums, primarily “in-fill” projects. By 1984, CAI had nine projects under construction throughout the Pasadena area totaling approximately 200 units in developments ranging from 7 to 62 units each. In 1986, CAI completed its first publicly financed development called Greenwood Townhomes, which offered 32 affordable housing units to low-income families in the City of South Pasadena. By 1989, CAI completed an additional 401 units and in total, has completed developments totaling over $237,000,000 including its Cloudbreak developments.
In 1992, CAI entered into a public/private partnership contract with the State of California Department of Housing and Community Development, which provided $12,000,000 for pre-development and land acquisition costs leading to the creation of Westside Residence Hall. Although names have been different throughout history, beginning as Los Angeles Veterans Education and Training Services, Inc. (LA VETS), Westside Residence Hall clearly marks the birth of what has evolved into the formation of the Cloudbreak Communities brand.
Since 1993, Cloudbreak Communities, through the individual Cloudbreak companies, has operated and continues to operate in five states including Hawaii, California, Texas, Arizona and Nevada. There are many sources of financing utilized to create the conditions for the development of veteran housing including institutional lending, tax-exempt bonds, 4% tax credits, 9% tax credits through the Low-Income Housing Tax Credit program, City and State HOME funds, Enhanced Use Leases and a variety of other public and private sources of debt and equity instruments.