Housing assistance loans to finance projects in San Miguel, Nipomo
People’s Self Help Housing qualifies for over $300,000 to support development of new single-family homes
– People’s Self-Help Housing has qualified for two major Housing Assistance Council (HAC) loans. These funds, totaling more than $300,000, will support the development of new single-family homes in Nipomo and San Miguel through PSHH’s nationally recognized self-homeownership program.
PSHH’s Home Ownership Team helps low-income families build new homes through the peer-to-peer method, which sees teams of ten households build together alongside professional craftsmen under the supervision of staff. of PSHH. The program reduces costs for future homeowners by 20-25% and sees each team contribute approximately 2,000 hours of construction labor – the “down payment”, which acts as a down payment on their home. The program also provides homebuyer training, mortgage advice and specialized construction training at no cost to participating families.
Owning a home is traditionally one of the best ways to build wealth. However, this gateway to financial opportunity for many households remains out of reach. Through the “equitable sweating” model, PSHH has been building alongside families for over fifty years and has seen generations of owner-builders rise from poverty to prosperity.
“We are very grateful to the Housing Assistance Council and their continued financial investment in our homeownership program,” said Sheryl Flores, PSHH Vice President for Homeownership. “This funding will create a lasting impact and open the door to home ownership for many families throughout San Luis Obispo County.”
This funding will allow PSHH to build 10 new two-story homes in Nipomo and 15 one-story homes in San Miguel as part of its home ownership program. All homes will have attached two-car garages, photovoltaic solar panels and energy-efficient design. Their team expects apps for both developments to be available in late 2022.
“HAC is delighted to continue our long-standing partnership with PSHH,” said Eileen Neely, HAC’s Director of Lending. “Working with organizations like PSHH helps HAC achieve its goal of building homes and communities in rural areas. As housing affordability becomes a bigger challenge for communities in California and across the country, programs like SHOP are making housing more accessible to those who need it most.
The Housing Assistance Council is a national, nonprofit organization that supports affordable housing efforts throughout rural America. Since 1971, HAC has provided below-market funding for affordable housing and community development, technical assistance and training, research and information, and policy formulation to enable solutions for rural communities through United States.
To learn more about independent living for people, visit pshhc.org.