To Promote Affordable Housing, HUD Awards $10 Million to Four Non-Profit Organizations

To Promote Affordable Housing, HUD Awards $10 Million to Four Non-Profit OrganizationsThe Department of Housing and Urban Development (HUD) recently announced that it has awarded $10 million in grants to four non-profit housing organizations, which will be used to create at least 538 affordable homes for low-income families.

According to HUD’s press release, these grants will be funded through its Self-Help Homeownership Opportunity Program (SHOP) and were awarded to the following organizations:

  • Habitat for Humanity International
  • Housing Assistance Council
  • Community Frameworks
  • Tierra Del Sol Housing Corporation

Through these grants, along with labor contributions from homebuyers and volunteers, HUD hopes to significantly lower the cost of construction – making homeownership a reality for families who otherwise would not be able to afford a home.

For more information, check out HUD’s press release.

 

Sources:
HUD – hud.gov
Valuation Review – valuationreview.com

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