|
|
|
Homeownership Opportunities Housing in California, let alone affordable housing, continues to be a catastrophic issue: seven counties rank among the ten least affordable in the country. Construction and land costs here are among the highest nationwide, and are dramatically exacerbated by a market where population pressures far exceed the available housing stock. The combination of these factors has had a brutal effect on the state’s low- and moderate-income families and seniors. Today, the median price of a home in the Bay Area is over $659,000. In Southern California, average home prices are also high, averaging over $500,000 in San Diego and Irvine. Throughout the state, record-high housing prices are well beyond the means of working families. Despite these trends, homeownership—with its ability to revitalize whole communities—remains one of the most important asset-building strategies for low-income and minority households. BRIDGE is committed to furthering these social and financial benefits through the goals of our Homeownership Initiative. |
For many families, the chance to live in an affordable BRIDGE rental property means the hope of a better life—and perhaps homeownership. Surveys show that 25% of those moving out of BRIDGE apartments are moving into their own homes. BRIDGE hopes to increase that percentage by building more affordable for-sale homes. Our goal is to have at least 20% of our housing production be homeownership opportunities. Through our HomeBricks program, we also want to make it easier for our residents and other working families advance to homeownership. HomeBricks offers a range of services to help interested buyers identify below-market-rate homes for sale. HomeBricks helps buyers navigate the purchasing process with educational assistance, centralized resources, and a new Mortgage Assistance product with favorable terms for first-time homebuyers. |
For information on the following upcoming homeownership project(s), as well as other affordable homeownership opportunites, please call HomeBricks at 415.495.HOME (4663) or visit them on the web at www.homebricks.com. - Mission Walk, San Francisco. 131 affordable for-sale townhomes and condominiums.
- Armstrong Townhomes, San Francisco. 124 affordable for-sale townhomes.
|
|
|
|
