Baratelli Properties has partnered with Kathy Ireland Worldwide (KIWW) to form Kathy Ireland American Home to bring affordable housing to people and families including those facing financial difficulties, essentially anyone affected by the COVID-19 pandemic.
“The concept of speed and urgency is important. It is time to build,” said Phil Baratelli, president and chief investment officer of Baratelli Capital Management LLC. “People need affordable housing now, to help them realize their hopes and dreams for them and their families.”
Baratelli will become the first member of the board of advisors for the Kathy Ireland Small Business Network, which is co-chaired by Ireland and Tommy Meharey, board member and vice president of Kathy Ireland Worldwide.
Baratelli Properties acquires, refurbishes, develops and leases affordable housing in communities throughout the southeastern and midwestern United States. Kathy Ireland American Home launches with a real estate portfolio of 138 properties in various stages of development in 31 cities in six states. The venture is funded through Baratelli Capital Management, LLC and is managed by Baratelli Properties. Baratelli initially made contact with Ireland, a former supermodel-turned-home design and lifestyle mogul, through business social network LinkedIn.
“We created our model, executed our plans, and developed many of our properties in just 12 months. Kathy and I connected, and with her leadership and passion, this partnership was accomplished in one week,” Baratelli added. “In 30 years of business, I have never seen anything come together so quickly, powerfully and respectfully.”
Where appropriate, the homes will be furnished with furnishings from Ireland’s home furnishings partners, the company said. Plans call for expanding nationwide.
“So many people are affected by the COVID-19 pandemic with many families worried about being able to afford rent,” said Ireland, chair, CEO and chief designer of Kathy Ireland Worldwide. “We look forward to working with Phil to grow this venture and expand it to the rest of our country. The housing units manufactured and built will be places families can proudly call home.”
