People’s Self Help Housing qualifies for more than $300,000 to support new single family home development
– People’s Self-Help Housing has qualified for two high-impact 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 as part of PSHH’s nationally recognized self-help home ownership program.
PSHH’s home ownership team assists low-income families in building new homes through the mutual self-help method, in which teams of ten households build alongside professional tradesmen under the supervision of PSHH employees. The program cuts costs for prospective homeowners by 20-25 percent and requires each team to contribute approximately 2,000 hours of construction labor – “weld capital” that serves as a down payment on their home. The program also provides participating families with free homebuyer training, mortgage counseling and specialized construction training.
Owning a home has traditionally been one of the best ways to build wealth. However, this gateway to financial opportunity remains out of reach for many households. Through the sweat equity model, PSHH has been building alongside families for over fifty years and has seen generations of builders move from poverty to wealth.
“We are so grateful to the Housing Assistance Council and their continued financial investment in our homeownership program,” said Sheryl Flores, PSHH vice president of homeownership. “This funding will have a lasting impact and open the door to home ownership for numerous families throughout San Luis Obispo County.”
This funding will allow PSHH to build 10 new two-story homes in Nipomo and 15 new one-story homes in San Miguel as part of its home ownership program. All homes will feature attached two car garages, PV solar and energy efficient design. Her team expects applications for both developments to be available by the end of 2022.
“HAC is thrilled to continue our longstanding partnership with PSHH,” said Eileen Neely, HAC’s Director of Lending. “Working with organizations like PSHH helps HAC achieve our goal of building homes and communities in rural areas. As housing affordability becomes a greater 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 in rural America. Since 1971, HAC has provided below-market financing for affordable housing and community development, technical assistance and education, research and information, and policy formulation to enable solutions for rural communities throughout the United States.
To learn more about People’s Self-Help Housing, visit pshhc.org.
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