RALEIGH, NC - As the housing market continues to see its problems and the federal government steps up its involvement and oversight, the need for affordable housing is not only easier said than done, but those who are able to overcome its obstacles are experiencing a celebrity status within the housing industry. One such developer in Raleigh, North Carolina is doing this with help of donated homes. Builders of Hope is a non-profit founded by ULI member, Nancy Murray, that rescues homes from demolition, relocates them, and then fixes them up using green building and renewable energy designs. The result is a quality, affordable home that are sold at below-market values.
The work of this organization not only helps prospective homeowners make an investment after either being scared off by the housing crisis, but it also provides fire fighters, teachers, nurses, and others with reasonably priced workforce housing.
"The city governments love us, and the community citizens think it's fabulous," said Murray in regards to local support. "The neighbors around our communities have been thrilled, because we are building a better, more attractive product than what has so far been available in their zip codes and price range."
Builders of Hope has recently acquired coverage in the Wall Street Journal and the News & Observer since it is not only the first of its kind in the U.S., but also because of its success could have tremendous implications for the housing industry.
Murray's organization not only outfits these relocated homes with matching fronts, but they also keeps debris out of landfills. In Wake County, North Carolina alone, there are 49 to 65 house demolitions each month. This is a problem in most counties, because there is usually a limited amount of space for landfills. "It certainly is a model that could be easily replicated," said Murray. "The more we can save from our landfills while giving back to the community in beautiful affordable housing stock, the better."
Builders of Hope create a shimmer of hope for housing and could result in a redirection of legislative priorities. Congress, until this past Saturday, had not approved any major overhaul in housing since 1992. This political resurgence of interest is due to the nationwide rise in housing costs and the re-examination of federal oversight and funding for housing.
As local communities become more familiar with the benefits of affordable housing projects, such as Murray's, this might lead to the business community to champion various politicians and policies that address the affordable housing crisis.
Source: The Ground Floor