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Saturday, September 21, 2019
Commercial Real Estate

Making Home Ownership Affordable in San Bernardino

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Making Home Ownership Affordable in San Bernardino

City of San Bernardino Partners with Neighborhood Partnership Housing Services, Inc. to Create Affordable Housing Opportunities in San Bernardino

 

SAN BERNARDINO, Calif. (Jan. 15, 2019) – The City of San Bernardino has partnered with the Neighborhood Partnership Housing Services’, Inc. (NPHS) office in Rancho Cucamonga to transform once blighted and vacant lots into new infill housing for first-time homeowners, making home ownership more accessible and increasing the quality of life in San Bernardino. With federal grant funding from the HOME Investment Partnerships Program (HOME) of $650,000 approved by City Council in 2017, the City partnered with NPHS to build three affordable homes across San Bernardino.

“This project with Neighborhood Partnership Housing Services exemplifies our dedication to improving the quality of life and spurring economic growth in San Bernardino,” said Mayor of San Bernardino John Valdivia. “Our goal is to foster a community where people can not only work and study but to create a safe place they are able to call home.”

The project encourages people to invest in home ownership in San Bernardino, instead of choosing to rent. Income requirements make this a unique home purchase opportunity for people with limited income. Additionally, HOME is providing a second mortgage that does not require monthly payments and is forgiven if the family occupies the house for 15 years.

“This partnership with the City of San Bernardino is a great match for our vision of a future where all families are financially prosperous and live in healthy and economically vibrant communities,” said Neighborhood Partnership Housing Service’s Vice President of Social Enterprise and Innovations Jenny Ortiz, EMBA. “This project has garnered a higher amount of interest from the public than typical projects, which goes to show that people are looking to establish a life in San Bernardino.”

Of the three homes built, one was sold and is already occupied on Genevieve Street, another home is in escrow on W. Union Street, and an offer was accepted for a home on W. 8th Street.

The manufactured homes are three-bedroom, two-bathroom, and average a size of 1,480 square feet. Amenities include a full set of appliances, an attached garage, as well as a roof solar panel system.

Inland Empire Business Journal
The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering Riverside and San Bernardino Counties.