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Family’s dream of owning a home now a reality thanks to Bloomberg and Habitat for Humanity
Habitat for Humanity of South Central New Jersey and Bloomberg were excited to come together and hand the keys of a new, affordable home to its new homeowner. Habitat staff, volunteers, and board members were joined by Hamilton Mayor, Jeff Martin, and Bloomberg representatives in dedicating the newly built home to a local, hardworking family ready to start the New Year on new footing.
Nestled in the residential neighborhood behind the Hamilton West High School, just two doors down from another Habitat home stands The Boone Family’s new home. The community has been a focal point of Habitat’s work in recent years, thanks to the support of the township. Mayor Martin spoke on the extent of their partnership, thanked his staff, Bloomberg, and congratulated the homeowner. He said, “Congratulations. It always is an exciting day when you get to close and move into your home, and to know as a parent, that you’re providing for your family, for your kids, to grow up somewhere safe.”
The four-bedroom home was built in partnership by Habitat SCNJ, a local affordable housing organization, and Bloomberg, a financial, software, data, and media company. Bloomberg supported the project financially with a full house sponsorship of $150,000 as well as enough volunteer power to construct the home from the foundation to the front door. In total, 176 Bloomberg employees contributed 1,780 hours over the course of a year.
Habitat SCNJ’s Chief Development Officer, Annie Fox, spoke about the partnership fondly, “This is our second home built alongside Bloomberg, and although we saw some setbacks with the pandemic, we’re so thankful that they remained dedicated to supporting the Habitat mission. We’re both really proud of what we’ve built for Tye and her children and are excited to hand her the keys to her new home.”
New Habitat Homeowner, Tye, has balanced working as a nurse, caring for her three children, and meeting the sweat equity requirements for the Affordable Homeownership Program over the course of six months. Now, she and her family are ringing in the New Year with a place of safety and comfort all of their own. And like all Habitat homes, The Boone Family will purchase the home with an affordable, 30-year mortgage with payments that are 30% of their household income; this includes principle, taxes, and insurance. Not only that, but the home is deed restricted for 30 years to benefit any future homeowners as well.
But when she began looking for an affordable and permanent place for her family, Tye quickly faced an uphill battle. Rent prices were soaring, and many qualification standards set by landlords were unrealistic for her meet as a single-income household.
“Then I came across a Habitat post on Facebook and applied to the program. I was determined to get better for my babies. When I was told I was approved for the program, I was speechless, excited. I really couldn’t believe it. I never thought I would be a homeowner.”
Tye is the first new homeowner of 2023 year for Habitat SCNJ, and one of 520 families to access permanent housing solutions through the organization over the last 35 years. More affordable homeownership projects are underway in Hamilton, Hightstown, and Bordentown where low-income families will soon purchase as well as numerous repair projects to help families live safely and healthily in their homes.
To see photos of the home dedication ceremony and other projects by Habitat, check out @HabitatSCNJ on Facebook and Instagram. Be sure to find all that Habitat has to offer by visiting www.HabitatSCNJ.org for more information on the organization’s services, active projects, and current events.