Maintaining quality housing is part of its neighborhood stabilization strategy
WASHINGTON, D.C. – February 19, 2015 – (RealEstateRama) — NeighborWorks America today reported that in the 12 months ended Sept. 30, 2014 its network helped homeowners rehab more than 7,000 single family homes and rehabbed more than 2,300 rental homes. Although home prices are stabilizing, many homeowners still have little equity to tap for needed home repairs and nonprofits in the NeighborWorks network are stepping in to use grants provided by NeighborWorks and other support in order to help owners maintain quality and affordable homes. Additionally, as affordable rental apartments age, the NeighborWorks members conduct rehab to maintain the supply of quality affordable rental homes.
“It takes investment and commitment to maintain quality affordable housing, whether you’re the owner-occupant or the landlord,” said Thomas P. Deyo, vice president of real estate programs at NeighborWorks America. “NeighborWorks sees the home rehab business line of business as important work of its network to support quality, healthful and affordable housing.”
NeighborWorks America invests approximately $15 million annually of capital into members of the NeighborWorks network that own and or manage rental housing. In addition, it provides targeted grants to members through another competitive grant process that helps attract and leverage millions more dollars of private and government funds that help owner occupants rehab their homes through contracting with NeighborWorks organizations or other qualified parties.
“Moreover, by providing training on the latest home rehabilitation practices for single-family and rental homes, NeighborWorks helps nonprofit real estate practitioners stay abreast of important trends such as zero waste construction techniques and energy efficient upgrade strategies,” said Deyo.
Information about these programs and how anyone in the homebuilding industry could register for the training offered by NeighborWorks America can be found at www.NeighborWorks.org/Training.
About NeighborWorks America
For more than 35 years, NeighborWorks America has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $22.5 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals