On Dec. 14, more than 50 New York City Housing Authority (NYCHA) residents gathered for a homeownership information session in Brooklyn hosted by the NYCHA in partnership with Habitat for Humanity NYC. The attendees represent just a small percentage of the hundreds of residents who expressed interest in the opportunity. This homeownership workshop was the first of several information sessions the non-profit Habitat NYC is conducting specifically for NYCHA residents. Those attending are hoping to buy one of more than 100 condominiums that will be under construction in Bedford-Stuyvesant and Brownsville, Brooklyn over the next two years.

NYCHA residents looks over homeownership materials at Habitat For Humanity workshop in Brooklyn. (Photo by Pete Mikoleski)

“I am so, so ready for this,” said Carolyn Williams, a 12-year resident of NYCHA’s Frederick Samuel Apartments in Manhattan. The medical transcriber was eager to learn what it will take to move out of NYCHA and into her own housing unit that she would own.

“In order to become a Habitat home owner, you must be willing to partner with us, do the sweat equity and commit to a family savings program,” said Richard Winslow, Homeownership Manager for Habitat. The program is open to low-income families earning 50 percent of the Area Median Income (AMI) where the homes are located. This roughly translates into an annual income of about $40,900 for a family of four. Every prospective buyer and the adults in the household must also commit to 200 hours of “sweat equity,” which includes helping to build the housing unit, and community service—approximately 8.3 hours per week.

“It would be great to be able to say that I own something,” said Cristiana Franco, who resides in Woodside Houses in Queens with her two adult daughters. Franco plans to apply to purchase one of the condos with her mother, who lives in Manhattan’s LaGuardia Houses where Franco was born and raised. “I see this as a great opportunity to grow and learn new things and to teach my daughters that there’s more than living in the ‘projects.’“  

“This is the best program out there, but what it requires is a lot of work on your part,” said Christopher Illum, a Homeownership Associate. The homes are financed through “stimulus” funds, and successful applicants must have a credit score of at least 620, and must produce documents that include pay stubs, W-2 forms, and much more. Habitat holds workshops over several months to work with prospective applicants to get them financially sound as the units are being built through 2013. The housing units will be assigned on a first come, first serve basis, and they’re open to all New Yorkers who are eligible, not just NYCHA residents. Selected candidates will get education throughout the home-buying process through mandatory first-time homeowner classes and a home maintenance class. For more information and applications, go to http://www.habitatnyc.org/

Upcoming Session:

Jan. 10 & 24
6 p.m.-8 p.m.
90 Church St., New York, NY 10007

Contact housing4housing@nycha.nyc.gov to RSVP.

By Sheila Stainback
December 16, 2011