While HODC is currently helping over 600 households, the wait list for affordable housing continues to grow. The typical wait time to get an HODC apartment or house is two to five years, but many residents have had to wait much longer.
In order to create more affordable housing, funds for predevelopment costs are needed. Every project incurs predevelopment costs, even before closing outside financing. These costs include market studies, architectural drawings, traffic studies, and engineering studies. Such expenses are associated with project feasibility diligence and a necessary part of getting a new development off the ground.
Your support for this campaign was critical to accelerating the rate at which we are able to create new housing units and to tackling the desperate imbalance between the supply and demand of housing that is affordable.
The supply of affordable housing everywhere is under increasing strain as rental rates and purchase prices continue to rise. This causes housing insecurity for many hard-working people in our communities.
YOU can give them hope TODAY.