We are excited to share some recent news about one of MBA's place-based affordable homeownership initiatives, CONVERGENCE Columbus, highlighted below.
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CONVERGENCE Columbus and Homeport recently announced the launch of the Maude Hill Growing Homeownership Fund, a $1 million investment that will provide financial assistance to help close Columbus, Ohio's homeownership gaps.
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"The downpayment assistance from the fund will enable more families to enjoy the benefits of homeownership and the generational wealth-building opportunities that come with it. MBA is proud to support CONVERGENCE Columbus' vital work." --MBA President and CEO Bob Broeksmit, CMB, discussing the Maude Hill Growing Homeownership Fund in Columbus, Ohio. Read more here.
Throughout 2023, MBA's CONVERGENCE place-based initiatives worked toward closing the information, trust, resource, and market gaps that create barriers to homeownership in minority communities. Learn more here. Highlights from the cities include:
- CONVERGENCE Memphis acquired eleven lots in a predominately Black neighborhood, which are now under development as affordable, entry-level, single-family homes for owner occupancy.
- CONVERGENCE Columbus launched multiple initiatives including Bloom614.org, a consumer-facing website with information about buying and owning a home, and the Bloom614 Homebuyer Readiness Program, which provides an innovative, digital coaching experience for aspiring homebuyers.
- CONVERGENCE Philadelphia officially launched in March 2023 and established its workstreams and identified a set of goals for its first year of operation as part of a three-year strategic plan.