In the news: New affordable housing project set for Orange Mound
This article was written and originally published by ABC24.
MEMPHIS, Tenn. — It was a celebration in Orange Mound Tuesday afternoon as City of Memphis officials announced a new affordable housing project to be built off Semmes Street and Douglass Avenue.
The project is a small piece in solving a much larger challenge - with an estimated tens of thousands of new affordable units needed in the Bluff City.
The project is spearheaded by The City of Memphis Division of Housing and Community Development, United Housing and My Cup of Tea.
"We know that homeownership is at the core of one of the significant needs in our community," Mayor Paul Young said. "It stabilizes neighborhoods. It stabilizes communities.”
The four homes being built on the land donated by My Cup of Tea will cost when completed between $85,000 to $120,000.
Young tells ABC24 with the metro area having a deficit of more than 38,000 affordable housing units, tens of thousands of Memphians quite literally can’t afford to live in a quality home.
“What that means is that there are 38,000 households in our communities that can’t afford the homes that they live in,” Young said.
Each single story home will have three bedrooms and two bathrooms, with at least one bathroom designed to meet ADA standards.
“It’s exciting to know that it can be done even in Orange Mound Tennessee wherever you live in the community you deserve to be able to have housing," Memphis City Councilwoman Janice Swearengen Washington said.
While more projects like this are in the works, Congressman Steve Cohen says every Memphian should be afforded the opportunity to live comfortably in a quality affordable home.
“People need the opportunity to have a house," Cohen said. "It means so much to a family. It means so much to an individual to have a place that is steady and is permanent.
Construction on the four homes begins immediately and will be completed by next August.
United Housing, Inc. to absorb Convergence Memphis
Convergence will maintain its mission while gaining support of an established nonprofit working toward the same goals.
MEMPHIS, Tenn., July 17, 2024 – Beginning July 1, Convergence Memphis will become a subsidiary of Memphis-based nonprofit, United Housing, Inc. Convergence will maintain its mission while gaining support of an established nonprofit working toward the same goals.
“Convergence’s mission of promoting affordable housing and increasing homeownership for Black and Brown families perfectly aligns with our work at UHI,” said Amy Schaftlein, executive director of United Housing. “Now that Convergence is officially a part of our organization, we can effectively work together to make an even greater difference in the City of Memphis and beyond.”
Convergence Memphis was formed in 2019 as a partnership between the Mortgage Bankers Association and the Tennessee Housing Development Agency – the first of its kind in the nation. The partnership aimed to increase Black homeownership in America, starting with Memphis. The nonprofit quickly gained momentum as it partnered with other organizations with similar values and objectives – including United Housing. As the Convergence model was tested across the country, it became clear that collaborating with existing nonprofits created greater opportunities to advocate for affordable homeownership and drive better outcomes for Black homeowners.
The merger will enhance both organizations' efforts in government relations, innovation, research and fundraising. Convergence will bring its connections to Fannie Mae, Freddie Mac, the National Fair Housing Alliance and Core Logic.
“The definition of ‘convergence’ is when two or more entities come together to form a whole,” said Jeremy Less, chair of the advisory council for Convergence Memphis. “That is exactly what we are doing – working together to facilitate new solutions that bring racial equity to homeownership.”
Learn more about United Housing by visiting uhinc.org.
About United Housing
United Housing Inc. is a nonprofit affordable housing agency that serves the City of Memphis, Shelby County and West Tennessee. UHI targets its services to families that are underserved by the traditional homeownership industry. Its mission is to provide quality housing opportunities to Mid-South residents through financial education, mortgage lending, home building and renovation, and creative partnerships with public, private and nonprofit entities. For more information about United Housing, visit http://www.uhinc.org.
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