For Immediate Release

Date: October 3, 2006
Contact: NeighborWorks America, Douglas Robinson
202-220-2360, drobinson@nw.org
Contact: Scot Slay, (601) 944-4175, sslay@ecd.org                 

 

Home Again Program Delivers Affordable Quality
Modular Homes to Pass Christian

Homes for Families Being Placed Now

(Pass Christian, Mississippi)   Since Cindy Cohen’s home on Second Street was completely destroyed almost a year ago by Hurricane Katrina, she has been trying to figure out a way to replace it. “The house was built by my grandfather, and my sisters and I grew up in the house,” she said. “This loss was devastating to us. Since my family has been here for several generations, relocating was simply not an option for me. I had finally decided to move in with my mother and just keep the property. I explored many building and financing options and concluded that I could not afford to rebuild.”

Then, the Home Again housing and financing program contacted Cohen to tell her that she had been approved for a pilot program designed to put people back into homes after the 2005 hurricanes. Her modular home was placed on a raised foundation at her property on Second Street the week of July 17.

The Home Again program was created by Enterprise Community Partners (Enterprise), NeighborWorks America and ECD/HOPE (Enterprise Corporation of the Delta/Hope Community Credit Union) with $1.3 million from the Rebuild the Coast Fund, a charity founded by Renee and John Grisham, the Home Depot Foundation and an anonymous donor.

“As a single mother of a college student, this program will help me afford a quality house that will be placed on the site of my original home,” said Cohen. “This means my daughter and I will have a home of our own once again. We are so grateful.”

Cohen, along with 35 other homeowners whose homes were completely destroyed in the center of Pass Christian around Second, North and Henderson streets, were chosen to participate in the Home Again program based on income level and projected rebuilding costs. Eight factory-built homes have already been placed in the first phase of the Home Again modular home program. The program will provide a total of 34 modular homes for community residents.

These modular homes are unique solution to rebuilding needs along the Mississippi Gulf Coast area. Modular homes have rarely been used in the coastal area despite the benefits of this type of construction.

According to Carolina Building Solutions, manufacturers of the Pass Christian-bound homes, these structures are constructed to be wind resistant and are also highly energy efficient.  They can also be completed much more quickly than a traditionally built home, requiring only 30 days to complete from initial order to final assembly.  This is a significant time savings compared to the three or four months required for stick-built structure, particularly with material and labor shortages that exist in the region.

“Our homes are built to exacting standards that can be achieved by constructing them in controlled conditions at our factory,” said David Tucker,  “All the homes bound for Pass Christian are built to withstand winds of up to 140 miles per hour and they will serve the families who live there for decades to come.

The Home Again program brings together a team of experienced professionals with backgrounds in community development financing, housing counseling and construction planning and management.  Their goal is assisting families with housing solutions as a crucial step in rebuilding the Gulf Coast area.

“We need creative solutions to get people settled in to new homes,” said Pass Christian Mayor Chip McDermot.  “We need reliable, local workforce to continue and even accelerate the rebuilding process and stimulate the economy.  Finding ways to provide people a place to call home gives them a stake in seeing the community thrive again.”

ECD/HOPE is the Mississippi-based partner to Home Again and a seasoned community development lender. It is providing mortgage financing and subsidy loans for the modular home pilot. “We are excited about this opportunity to collaborate with Enterprise, Home Depot, the Grisham’s and others to rebuild the Gulf Coast,” said Bill Bynum, ECD/HOPE’s CEO. “It is particularly noteworthy that our partners are targeting resources to residents with lower incomes. We simply must find the quickest, safest, and most affordable solutions we can to provide people with the opportunity to find a place they can call home.”

“The magnitude of the challenge to rebuild the Gulf Coast demands innovative solutions and partnerships.” said Ken Wade, CEO of NeighborWorks America.  “Through programs like Home Again, NeighborWorks America extends its efforts to provide safe, affordable housing to those who need it most.”

Modular homes will continue to arrive in the neighborhood through the beginning of August.  The homes require assembly on site and some finishing construction to make it move-in ready.  The process takes about two weeks.

About ECD/HOPE (Enterprise Corporation of the Delta/Hope Community Credit Union)

ECD/HOPE (Enterprise Corporation of the Delta/Hope Community Credit Union) is a regional community development financial institution dedicated to strengthening communities, building assets and improving lives in economically distressed areas across the Mid South by providing access to affordable, high-quality financial products and related services.  The organization leverages private, public and philanthropic resources to tackle development hurdles facing low-wealth communities (such as jobs, housing, child care, health care, etc.) that cannot be addressed with the resources of any one sector by itself. Since 1994 ECD/HOPE has generated over $200 million in financing for entrepreneurs, homebuyers and community development projects, and directly benefited more than 25,000 individuals in Arkansas, Louisiana, Mississippi, and Memphis, Tennessee.

About Enterprise

Enterprise is a leading provider of development capital and expertise for creating decent, affordable homes in thriving communities. For more than two decades, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $6 billion in equity, grants and below-market loans and is currently investing in communities at a rate of close to $1 billion a year. Visit www.enterprisecommunity.org to learn more about Enterprise's efforts to build communities and opportunity, and to meet some of the half a million people we have helped.                                   

About NeighborWorks America

NeighborWorks America provides financial support, technical assistance and training for communities across the nation, including the NeighborWorks network – a nationwide network of more than 240 community development organizations working in more than 4,400 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks organizations have generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

 

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