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National Home Ownership Month

by | Jun 28, 2024 | General News

image celebrating Martin Luther King Jr. Day

For the past 22 years, throughout the month of June we celebrate National Homeownership Month, in which we recognize the value that owning a home brings to communities, neighborhoods, and families around the country.

National Homeowner Week began in 1995 as a strategy of the Clinton administration to increase homeownership across America. In 2002, President George W. Bush expanded the observance period from a week to the entirety of June.

Why extend the observance? As Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon puts it, “Homeownership promotes stability and healthy outcomes, builds intergenerational wealth, and ultimately is fundamental to America’s promise of opportunity.”

We couldn’t agree more! At Petra Community Housing, we believe that having a safe, affordable place to call home is something that all of us – regardless of income level – should be able to experience and enjoy. Whether renting or owning, a home provides us with solid foundations on which to build relationships, grow our families, and strengthen our communities.

In today’s economy though, the dream of homeownership can feel out of reach for many Americans, particularly those with very low incomes. Our mission here at Petra includes strengthening communities by creating affordable housing. As part of Petra’s refreshed and refocused Strategic Plan we are going back to our roots by collaborating with several of our partners to develop affordable homes for first time low-income eligible buyers. We are proud to partner with several local organizations to help make the dream of homeownership become a reality for everyone. We would like to highlight a few of those partners here and encourage you to click on the links below to learn more.

The Chester County Department of Community Development (DCD).  DCD plays a crucial role in supporting affordable housing opportunities by collaborating with various agencies to create and maintain affordable housing options, provide education and direct financial assistance to low- and moderate-income home buyers.  DCD has committed to increasing affordable housing supply by 1,000 within ten years, currently with 350 homes planned or complete over the last 3. DCD also plays an important role in supporting Community Housing Development Organizations (CHDO) like Petra by providing financial assistance to help foster ongoing affordable housing development and management.

On a local level, we are working to create a partnership with The Habitat for Humanity of Chester County (HFHCC) to help bring homes with affordable mortgages to qualified families and individuals who live or work in Chester County. The HFHCC also operates a ReStore that sells gently used goods and uses those funds to help build affordable homes.

We will also be working closely with the Housing Partnership of Chester County  who is improving the quality of life for low-income members of our community by providing them the resources and tools to secure affordable housing.

In addition, Petra will be expanding our partnership with Open Hearth, Inc. , who has helped open the doors to independence to low-income families and individuals by providing financial counseling coupled with saver matching grants, as well as transportation programs that would otherwise be unavailable to them.

These local and state organizations all help support Petra’s vision of affordable housing for low-income families, and we are proud to collaborate with them to bring that dream within reach of everyone in the communities we support. We look forward to making a formal and comprehensive announcement of the specific work that is planned for the greater Phoenixville area in the coming months. Stay tuned!

Please join us in celebrating National Homeownership Month by visiting the links of these valued partners and see how you too can support and make a difference in making homeownership a reality for the members of our community.