Posts Tagged ‘Homeownership’

January 26, 2018 · by Travis Phillips · Featured, New Construction, Pathway 1000

PCRI invites the community to join us, Albina Construction, Brett Schulz Architect and other partners on February 27 to break ground on the first homes for purchase by first-time homebuyers as part of our Pathway 1000 Initiative.

Four new townhomes will be built in a prime location of North Portland, the first of many homeownership developments in PCRI’s Pathway 1000 Initiative. These new homes, for sale to low- and moderate-income first-time buyers will be prioritized for families displaced from North and Northeast Portland and families at risk of displacement.

For more information about the groundbreaking event or to RSVP for the event, email us HERE.

“PCRI was formed as, and continues to be, a solution to involuntary displacement. This project will help ensure everyone can experience the stability, safety and dignity that a home provides,” said Maxine Fitzpatrick, Executive Director.

Four new 2- and 3-bedroom townhomes, certified to meet Earth Advantage green building standards, will be developed on the site. The homes will be two and three stories (for 2- and 3-bedroom sizes, respectively) and have been designed to fit with existing neighborhood scale. Front, rear and side yards and walkways help ensure reasonable separation from neighboring homes and maintain the scale and feel of the neighborhood. A condo association for the completed homes will maintain the building’s exterior and landscaping.

Construction will begin in February 2018, and is anticipated to be complete in late summer or early fall 2018. Other developments planned to begin construction in summer 2018 will provide additional opportunities for families to build intergenerational assets through homeownership.

“To be owning a home, to be investing in our own personal asset and someday pass it on to our daughter, it’s a great feeling,” said Genté Shaw, a PCRI client and first-generation homeowner.

Down payment assistance for the future homeowners will be provided by the City of Portland Housing Bureau as part of its N/NE Neighborhood Housing Strategy.

The development team is being led by PCRI. In conjunction with the National Association of Minority Contractors – Oregon and Minority Contractor Improvement Partnership (MCIP), PCRI selected Albina Construction to build the new homes due to their deep roots in N/NE Portland and their commitment to opportunity for local and minority subcontractors and workforce. Albina Construction owners Dennis Harris and Caitlin MacKenzie are pictured above. Additional project partners include Brett Schulz Architect, Beneficial State Bank, Wells Fargo Housing Foundation, and Meyer Memorial Trust.

January 22, 2018 · by pcriadmin · Featured, Pathway 1000

african-american-couple-buying-home1-2PCRI will host a informational event on March 3, 2018 for its Pathway 1000 Initiative. At the event, families and individuals can learn about homeownership and other opportunities available as part of the initiative, as well as more information about the initiative and its goal of ending involuntary displacement.

The event will be held at Portland Community College’s Workforce Training Center at 5600 NE 42nd Avenue (at Killingsworth) on March 3, 2018, from 10:00 a.m. to 1:00 p.m. Refreshments will be provided; RSVPs are requested, but not required. Questions can be sent to PCRI via email.

Pathway 1000 is a displacement mitigation initiative created by PCRI and informed through community outreach and feedback. In addition to mitigating displacement, the initiative Arika and Jenniferaims to reclaim the historic heart and soul of Portland’s African American community, building prosperity for African Americans and others displaced from North and Northeast Portland through the development of 1,000 new affordable homes during the next decade. This development will create hundreds of living-wage jobs, business growth and additional development opportunity throughout the duration of the 10-year initiative.

In addition to individuals and families interested in learning about homeownership opportunity, industry professionals are encouraged to attend to learn more about how their organization or business can participate in the initiative. Attorneys, architects, finance professionals, contractors and others are invited to join in the Pathway 1000 initiative.

January 5, 2018 · by Travis Phillips · Featured, PCRI

On January 4, 2018, The Portland Metropolitan Association of Realtors (PMAR) presented an Oregon Home Foundation grant for PCRI’s homeownership education program. The grant will help support increased attendance in PCRI program as well as continued development of post-purchase support programs. Homeownership Program Specialist Linda Tellis-Kennedy (pictured below, third from left) attended the grant presentation on PCRI’s behalf.

PMAR Presented Homeownership Program Grants on January 4, 2018

“Homeownership is the most effective way for most families to achieve and retain stability within their community,” said Andrea Debnam, PCRI’s Manager of Resident Services. “This grant will help PCRI clients realize their dreams and build assets through homeownership, breaking cycles of poverty.”

PCRI, whose vision is to help low-income families achieve stability and build wealth, shares the Oregon Association of Realtors HOME Foundation’s belief in the incredible value of homeownership to break generational cycles of poverty. PCRI also understands that education and support prior to purchase are key to the long-term success of first-time buyers, especially for PCRI’s target population of African Americans who have been historically and disproportionately excluded from homeownership.

Since 2004, PCRI has successfully provided culturally-specific homeownership education, counseling services, and financial assistance to low- and moderate-income residents living in PCRI housing and in the larger community. Interest in PCRI’s homeownership program has nearly doubled each of the last two years and, with development of new homes for purchase associate

d with the Pathway 1000 initiative, attendance is expected to continue to increase. The Oregon Home Foundation grant will help PCRI meet increased service needs as well as develop new programs.

The Homeownership Opportunities Website Northwest (HOW NW) sponsored by PMAR provides additional resources for buyers without charge or obligation. In addition to PCRI’s education services, buyers are encouraged to visit the HOW NW website to learn more about buying, owning and retaining a home.

May 16, 2017 · by pcriadmin · Featured, Pathway 1000, Uncategorized

Thanks to a grant from the Wells Fargo Housing Foundation announced May 15, Portland Community Reinvestment Initiatives will have additional resources to meet the needs of a rapidly-growing homeownership education program. The grant will help support increased attendance in PCRI’s program as well as new program orientation sessions and post-purchase support.

PCRI Executive Director Maxine Fitzpatrick (2nd from left) accepts a grant from local Wells Fargo executives, left to right: Andrew Tweedie, Community Affairs officer; Tracy Curtis, Regional President; and Cobi Lewis, Community Development officer. PCRI will use the $100,000 grant to build 22 affordable homes for sale to low-income buyers displaced from N/inner NE Portland

PCRI Executive Director Maxine Fitzpatrick (2nd from left) accepts a grant from local Wells Fargo executives in January 2017, left to right: Andrew Tweedie, Community Affairs officer; Tracy Curtis, Regional President; and Cobi Lewis, Community Development officer. PCRI will use the $100,000 grant to build 22 affordable homes for sale to low-income buyers displaced from N/inner NE Portland

PCRI has experienced a sharp increase in participation in its homeownership program in the last year and anticipates further increases in participation due to a recent Portland Housing Bureau initiative prioritizing first-time home buyer assistance for families with roots in North and Northeast Portland. Many prospective homeowners introduced to PCRI’s program through the PHB initiative have already begun working toward homeownership with PCRI’s support.

“Homeownership is the most effective way for most families to achieve and retain stability within their community,” said Andrea Debnam, PCRI’s Manager of Resident Services. “This grant will help PCRI clients realize their dreams and build assets through homeownership, breaking cycles of poverty.”

PCRI offers comprehensive and culturally specific resident services, including the homeownership education program, to residents and the larger community. PCRI also partners with industry professionals to deliver workshops and individual support focused on every aspect of home buying and ownership. After purchasing a home, PCRI remains connected to buyers, providing post-purchase support. In addition, PCRI provides homeownership retention and referral programs to help senior homeowners age in place and retain homes they currently own.

The homebuyer education program is a component of a larger PCRI initiative aimed to mitigate displacement and bridge minority homeownership gaps: Pathway 1000. The initiative aims to develop 1,000 new homes during the next 10 years, prioritized for residents involuntarily displaced or at risk of displacement from North and inner Northeast Portland. In addition to current rental projects under development, PCRI is developing more than 20 homes for purchase by first time buyers in the next two years. Wells Fargo Housing Foundation previously committed $100,000 in support for the homeownership initiative through its Priority Markets Program (grant presentation pictured above). In addition, down payment assistance totaling over $1.7 million is committed for these buyers by the City of Portland Housing Bureau.

Since 2004, PCRI has successfully provided culturally-specific homeownership education, counseling services, and financial assistance to low- and moderate-income residents living in PCRI housing and in the larger community. Interest in PCRI’s homeownership program has nearly doubled in the last year and, with increased development of homes for purchase associated with the Pathway 1000 initiative, attendance is expected to continue to increase. The Wells Fargo Housing Foundation grant will help PCRI meet increased service needs as well as develop new programs.

February 8, 2017 · by pcriadmin · Featured, Pathway 1000, PCRI

Twenty-two low-income families displaced from North and Northeast Portland will be able to purchase a home in their former neighborhood, thanks in part to a $100,000 grant from Wells Fargo Housing Foundation to Portland Community Reinvestment Initiatives (PCRI).

PCRI Executive Director Maxine Fitzpatrick (2nd from left) accepts a grant from local Wells Fargo executives, left to right: Andrew Tweedie, Community Affairs officer; Tracy Curtis, Regional President; and Cobi Lewis, Community Development officer. PCRI will use the $100,000 grant to build 22 affordable homes for sale to low-income buyers displaced from N/inner NE Portland

PCRI Executive Director Maxine Fitzpatrick (2nd from left) accepts a grant from local Wells Fargo executives, left to right: Andrew Tweedie, Community Affairs officer; Tracy Curtis, Regional President; and Cobi Lewis, Community Development officer. PCRI will use the $100,000 grant to build 22 affordable homes for sale to low-income buyers displaced from N/inner NE Portland

PCRI will use the grant to help build 22 new homes in North and inner Northeast Portland for purchase by the families. Construction on the homes is expected to start later this year, with all 22 homes completed and sold to qualifying families by the end of 2018. PCRI is estimating the total construction budget will be close to $6 million.

“Helping a family become a homeowner is one of the most effective ways to help them overcome displacement from their historic neighborhoods,” said PCRI Executive Director Maxine Fitzpatrick. “This grant is an important tool to make homes available and affordable for families who want to return and stay in the neighborhoods they once called home.”

The Wells Fargo grant will make homeownership more affordable by helping offset PCRI’s development costs for new homes built on land it owns. The completed homes will be prioritized for sale to households who have been involuntarily displaced or are at risk of displacement from North and inner Northeast Portland.

Families purchasing the homes will receive support from PCRI’s HUD-certified homeownership education and financial education programs.

The 22 homes are part of a larger PCRI initiative: Pathway 1000. The initiative aims to develop 1,000 new homes during the next 10 years, prioritized for residents involuntarily displaced or at risk of displacement from North and inner Northeast Portland.

“This grant is part of our commitment to the community to support the creation of more affordable housing, which is so desperately needed in Portland,” said Wells Fargo Oregon Regional President Tracy Curtis of Portland. “We work in tandem with PCRI and other community-based nonprofits to ensure stability and opportunity for local families.”

One of 56 Grants Nationally 

The $100,000 grant to PCRI was one of 56 neighborhood revitalization grants totaling $6 million that Wells Fargo Housing Foundation gave to nonprofits in 20 states and the District of Columbia through its Priority Markets Program. Since 2009 the program has provided grants totaling more than $42 million to nonprofits in 125 communities.

Grant recipients were selected from requests submitted by local Wells Fargo employees and nonprofits Wells Fargo identified as being in need of extra help with large-scale neighborhood revitalization projects. A recipient must be a nonprofit with a successful history of building or renovating housing for low-to moderate-income homebuyers.

 

About Wells Fargo Housing Foundation 

The Priority Markets Initiatives are administered through the Wells Fargo Housing Foundation. The foundation has stewarded more than $82 million and 4.5 million team member volunteer hours in support of creating affordable housing and community revitalization programs. The foundation has mobilized more than 175,000 volunteers to build or refurbish 3,600 homes in low-to-moderate income communities. More information: www.wellsfargo.com.

 

January 23, 2017 · by pcriadmin · Featured, Pathway 1000, PCRI
PCRI

Cheryle Clunes, 2017 PMAR Vice President Member Services (left) and 2017 PMAR President Kerri Hartnett (right) presented the grant to PCRI’s Travis Phillips and Linda Tellis Kennedy at a January 20 event.

On January 20, The Portland Metropolitan Association of Realtors (PMAR) presented an Oregon Home Foundation grant for PCRI’s homeownership education program. The grant will help support increased attendance in PCRI program as well as development of ongoing post-purchase support programs.

“Homeownership is the most effective way for most families to achieve and retain stability within their community,” said Andrea Debnam, PCRI’s Manager of Resident Services. “This grant will help PCRI clients realize their dreams and build assets through homeownership, breaking cycles of poverty.”

PCRI, whose vision is to help low-income families achieve stability and build wealth, shares the Oregon Association of Realtors HOME Foundation’s belief in the incredible value of homeownership to break generational cycles of poverty. PCRI also understands that education and support prior to purchase are key to the long-term success of first-time buyers, especially for PCRI’s target population of African Americans who have been disproportionately excluded from homeownership.

Since 2004, PCRI has successfully provided culturally-specific homeownership education, counseling services, and financial assistance to low- and moderate-income residents living in PCRI housing and in the larger community. Interest in PCRI’s homeownership program has nearly doubled in the last year and, with increased development of homes for purchase associated with the Pathway 1000 initiative, attendance is expected to continue to increase. The Oregon Home Foundation grant will help PCRI meet increased service needs as well as develop new programs.

The Homeownership Opportunities Website Northwest (HOW NW) sponsored by PMAR provides additional resources for buyers without charge or obligation. In addition to PCRI’s education services, buyers are encouraged to visit the HOW NW website to learn more about buying, owning and retaining a home.

October 13, 2016 · by pcriadmin · Featured, PCRI

Travis Phillips, PCRI’s Director of Housing and Development, took to the airwaves Wednesday, October 12, to discuss PCRI, involuntary displacement, and homeownership on XRAY.FM’s “XRAY in the Morning” show.

IMG_8851Talking about gentrification and displacement, host Jefferson Smith noted that there is a risk of people growing numb to an ongoing challenge such as displacement due to residents no longer being able to afford their neighborhoods.

“Are people motivated to do things right now, to help your work?” Smith asked. “Do you have any risk of fatigue?”

“Sure we have a risk of fatigue,” Phillips responded. “What I think is really exciting right now is there is an attention to displacement and more importantly some solutions to displacement that are long overdue but ones we haven’t seen before,” referring to PCRI’s Pathway 1000 Initiative and “Right to Return” program that gives waiting list preference for some units to households involuntarily displaced from N/NE Portland.

The show continued, discussing homeownership opportunity for lower-income and first time buyers.

“For a lot of Portlanders, becoming a homeowner is akin to running an ever-quickening treadmill. You want to do it, but it’s getting faster and faster,” Smith said, wondering how PCRI works with home buyers to overcome the challenges of the current market.

Education, Phillips noted, is one of PCRI’s key strategies for home buying success. It is PCRI’s goal to ensure that buyers are well-prepared for their home purchase so they can maintain homeownership for the long term. On the show, one resource (Portland Housing Bureau’s Down Payment Assistance Loan) was discussed, but PCRI helps connect buyers with multiple resources that can be leveraged and combined to help ensure home buyers borrow from a bank only what they can afford.XRAYFM

For XRAY listeners and others who are interested in learning more about buying a home with PCRI’s assistance, PCRI offers a HUD-certified education program, one-on-one assistance and regular educational seminars. Visit our homeownership page for details or contact Homeownership Program Specialist Linda Tellis-Kennedy for more information.

Jump over to XRAY’s website to listen to the entire broadcast. Or find specific segments and archives from more than two weeks back by going to XRAY’s SoundCloud page.

 

October 7, 2016 · by pcriadmin · PCRI

homebuyer workshop flyer-Oct16For anyone who has applied for a credit card, a personal loan, or insurance: there’s a file about you. This file is known as your credit report. Credit reporting companies sell the information in your report to landlords, creditors, insurers, employers and other businesses with a legitimate need for it. They then use this information to evaluate your applications for a car or home loan, credit card, or even an apartment lease. Having a good credit report means it will be easier for you to get loans and access lower interest rates.

Join PCRI and Kriss Parnell, Senior Loan Consultant at HomeStreet Bank, for this seminar which will help you better understand what goes into a credit report, how it can impact you, and what you can do to improve your report.

When: Wednesday, October 26, 6:00 pm – 7:30 pm

Where: PCRI Annex 6601 NE Martin Luther King Blvd., Portland, Oregon

Due to limited seating, PLEASE RSVP TO LINDA BY MONDAY, October 24 via email or at (503) 288-2923 x131

Interested in more information about PCRI’s homeownership programs? Learn more HERE. Additional classes will be offered each month; please check back for more information.

For more information contact Linda Tellis-Kennedy at (503) 288-2923 or by email. Click the photo at right for a downloadable flyer.

September 12, 2016 · by pcriadmin · PCRI

budget workshop 092016Buying a home is the biggest purchase most of us will ever make. Properly budgeting for this important purchase is critical! On Wednesday, September 28, Portland Community Reinvestment Initiatives will host a budgeting workshop with tips, tricks and useful information for everyone–and especially anyone who would like to buy a home.

This Homebuyer Education class is designed to help residents who need help creating their first budget as well as those who already have a budget but need a boost to reach higher goals, including homeownership.

Interested in more information about PCRI’s homeownership programs? Learn more HERE. Additional classes will be offered each month; please check back for more information.

For more information contact Homeownership Program Staff Ted Salter or Linda Tellis-Kennedy at (503) 288-2923 or by email at ted@pcrihome.org or linda@pcrihome.org. Click the photo at right for a downloadable flyer.

May 23, 2016 · by pcriadmin · PCRI

HO Debt FlyerAre you getting calls from collection agencies and you don’t know what to do? Do you want to clean up your credit so that you can achieve your goal of homeownership? On May 26, Portland Community Reinvestment Initiatives will host a debt settlement workshop that will give you the answers you need.

This Homebuyer Education class is designed to help residents in any part of the credit spectrum with answers you need to reduce debt and improve credit. The hour-long class will help you get prepared to settle your debts before contacting your creditors (and hopefully before they contact you).

Interested in more information about PCRI’s homeownership programs? Learn more HERE. Additional classes will be offered each month and new public resources will soon be available; please check back for more information.

For more information contact Homeownership Program Coordinator Ted Salter at (503) 288-2923 ext. 130 or ted@pcrihome.org. Click the photo at right for a downloadable flyer.

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