WASHINGTON, D.C. – Today, U.S. Senator Majority Leader Chuck Schumer and U.S. Senator Kirsten Gillibrand announced $5,196,000 in federal funding to develop and preserve affordable housing and invest in community development efforts throughout New York.
Read MoreSyracuse, N.Y. – Fewer than one in five Syracuse residents could afford a newly built apartment. Without subsidies, a landlord would have to charge $2,400 a month to make a return on the investment.
Read MoreNew data from the Federal Reserve Bank of New York shows credit card debt is on the rise again. Americans now have a total of $986 million in debt, a record high. But there are strategies to keep your own credit card debt under control.
Reducing debt and increasing credit scores is the most popular service at Syracuse’s Financial Empowerment Center, or FEC. Their counselors helped reduce more than $1 million in non-mortgage debt for its clients in 2022.
Read MoreAfter taking a seat on the Common Council in 2018, Latoya Allen had to figure out how to make her $21,000 a year salary work for her family of three. She visited Syracuse’s Financial Empowerment Center, where she received free financial counseling so she could budget and eventually purchase a house.
Read MoreWith the help of volunteers, local companies, unions, and the sweat equity of future homeowners; Oswego County Habitat for Humanity, (OCHFH) recently completed renovations to a home at 21 Liberty St. for the Tunaley family in Oswego, OCHFH Executive Director Samuel Raponi.
Read MoreWith the help of volunteers, local companies, unions, and the sweat equity of future homeowners; Oswego County Habitat for Humanity, (OCHFH) recently completed renovations to a home at 21 Liberty St. for the Tunaley family in Oswego, OCHFH Executive Director Samuel Raponi.
Read MoreSyracuse, N.Y. – Onondaga County today opened a $10 million fund to support housing development anywhere in the county with grants of $5,000 per unit, or more in special cases.
Read MoreThe renovations are paid for by nonprofit housing and community development organization Home HeadQuarters at no cost to property owners through a deferred loan. Property owners are required to retain ownership for a two-year compliance period, enforced through a lien placed on the property.
Read MoreWe ultimately found the community development financial institution Home HeadQuarters, Inc. Home HeadQuarters is a one-stop-shop, providing educational resources and purchase and construction financing to qualified individuals, families, contractors, and investors seeking to purchase and redevelop properties from the Albany County Land Bank. This partnership creates a new pathway to homeownership and wealth building for people who have difficulty securing the financial resources needed to purchase and rehab buildings. Access to capital is a crucial component of the solution: it’s one of the biggest causes of the racial and economic homeownership gaps and a tremendous barrier to creating more equitable opportunities.
Read MoreBesides having homebuying questions answered by industry experts, attendees will also learn how they can benefit from the enhanced mortgage program at Syracuse University and hear about open positions available with the University.
Read MoreIn fact, Home HeadQuarters provided the first-ever mortgage to a family of color purchasing a property through the Albany County Land Bank. Preem Cabey, the first-time Albany homebuyer, was declined for purchase financing by at least five financial institutions before coming to Home HeadQuarters. In just over a year, Home HeadQuarters has provided nearly $1 million in purchase financing for Albany County Land Bank homebuyers.
Read MoreAnd so we went out and found a community development financial institution out of Syracuse, called Home HeadQuarters. We can’t lend money but they can do flexible underwriting and last year alone put $1 million to first-time homebuyers who purchased properties from the land bank and then rehabbed them, people who couldn’t or wouldn’t go to traditional banks.
Read MoreIt's the third time the Central New York foundation received the grant dollars, and the organization plans to funnel the money to Home HeadQuarters, which will install the doors at windows at no cost to residents.
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Solvay Bank recently announced that Michele Fernandez, VP, enterprise risk manager & CRA officer, has recently been elected to join the Home HeadQuarters Inc. (HHQ) board of directors as a private-sector member.
Read More"Even for single-family houses, if we have a developer that says 'I can do five lots at one time', as opposed to many of our affordable housing agencies that maybe could do one or two houses," Owens said. "We were just at Jubilee Homes. They're a preferred developer. They'll do another set of houses. Home Headquarters. They've always been our affordable stakeholder, but we wanted to bring in some more folks who would be willing to do affordable housing."
Read MoreHome HeadQuarters of Syracuse has been helping homeowners and renters in CNY for 25 years. One of their recent commitments is to end lead poisoning in the area. Home HeadQuarters works with the Central New York Community Foundation to provide scholarships to contractors and landlords for an environmental protection agency training. That training teaches about safe lead removal and protection measures. Kathleen Walpole, director of program strategy, impact and evaluation, said that the program helps everyone in the process of lead removal.
Read MoreBecause Sales4Rehab properties do not qualify for traditional financing, this partnership with Home HeadQuarters is a vital part of the Land Bank’s continued expansion of programs and resources designed to return vacant properties back to productive use, with a special focus on addressing housing disparities and better serving historically underserved populations within Chautauqua County.
Read MoreUnder the new partnership for the Rehab Loan Fund, Home Headquarters will offer both acquisition and construction financing assistance to qualified first-time or low-income homebuyers seeking to purchase and rehabilitate properties from the Chautauqua County Land Bank.
Read MoreKerry Quaglia, executive director of Home Headquarters, a nonprofit housing and community development organization in Syracuse, said the construction of smaller homes and the rehabilitation of antiquated housing in the city will be needed to expand the area’s supply of housing and keep prices from getting out of reach for the average homebuyer.
“It’s never a bad thing to have more jobs in your community,” he said. “But we need to plan more affordable housing. You’ve got to have a lot of different options for people.”
Read MoreAs part of its’ long-term goal to increase tree canopy in the city, the City of Syracuse Department of Parks, Recreation & Youth Programs will hold a tree giveaway, while supplies last, on Friday, September 16 at 10 a.m. during the Home HeadQuarters Block Blitz in Homer Wheaton Park, 311 Mountainview Ave, 13224. The tree giveaway is being piloted as one of several initiatives Syracuse Parks and its’ collaborators will utilize to increase tree planting on private property.
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