Home for Good Pilot Program
In the revitalization efforts of many cities, Black and Latine property owners who have inherited the property by will or intestate do not reap the full financial benefit of these efforts. These heirs are motivated or even enticed to sell their family properties to investors on the front end of a positive neighborhood revitalization effort. Or due to a “tangled title,” the property sits vacant, a dead asset that cannot be appropriately utilized until the family can get a clear title on the property.
Download our Home for Good Concept Paper here:
How might this look in Atlanta?
How might this look in Philadelphia?
Home for Good Process
Proposed Intervention
Home for Good addresses multiple challenges to Black and Latine wealth accumulation by using the creation and management of affordable rental housing as a means to an end.
Program Benefits
Potential Participants
Home for Good will recruit participants who have a property in a neighborhood that is at risk of predatory purchasing or significant acquisition from external investors, require funding and support to rehabilitate their property, and commit to the determined affordability period. Participants may include:
- Persons (e.g., seniors) who want to remain in their communities through an additional income stream and are looking to add an in-unit rental or ADU
- Persons who own or inherit a duplex or triplex where they live in one unit but rent the other unit(s) and require the renovation funds to maintain the health and safety of the property
- Seniors moving in with family or into assisted living but hoping to keep their home in their family
- Families who have inherited a property and plan to eventually move into or sell the property but want to realize the increased value in an improving neighborhood
- Aligned (i.e. agree that they want to keep the property and rent it out) heirs/inheritors with clear title
- Aligned heirs/inheritors with tangled titles who would benefit from the program as an impetus to clear title
- Families with disputes about what to do with inherited properties
Home for Good was designed by UPD Consulting
with funding provided by the Wells Fargo Foundation.
For More Information:
Ann Willemssen, Principal Consultant