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viewpoint Habitat SHR Takes Smart Steps to Secure its Financial Future

Habitat for Humanity of South Hampton Roads (Habitat SHR) has a 34-year track record of building homes alongside low-income families who must qualify for mortgages based on 30% of their income. That’s a challenge, but so is finding scarce land and having the resources to buy it when there’s a short window of availability. That’s why Habitat SHR, armed with seed money from a Bank of America grant, has established a Land Bank to acquire property. Once a home is sold, the fund is replenished creating a “cycle of prosperity,” according to Executive Director Frank Hruska. “We are also starting a Construction Fund so we can pre-buy building materials we need for the 16 weeks it typically takes us to erect a house.” In addition, Habitat SHR, through a newly established complimentary mission, is making essential home repairs and providing ADA accessibility for income-constrained senior, disabled, and Veteran homeowners to ensure they are warm, safe, and dry in their homes. “This is a critical service,” says Hruska, “because with housing so expensive and in such short supply, it’s important that individuals have the option to stay where they are, safely and comfortably.” Hruska and other Habitat leadership outlined the non-profit’s expanding mission during a recent gathering of community and local business leaders at the Town Center City Club in Virginia Beach. It also includes a “Go Greener” initiative to reduce operating costs at the agency’s headquarters on Tidewater Drive. That is well underway with LED lighting and insulation already installed as well as a new white roof that reflects heat away from the building. Also

[ by joel rubin ]

[ PHOTOS courtesy of Habitat for Humanity of South Hampton Roads ]

Habitat SHR is also making essential home repairs and providing ADA accessibility for income-constrained senior, disabled, and Veteran homeowners to ensure they are warm, safe, and dry in their homes.

in place are solar panels that will generate 100% of the building’s annual electricity. “The more we can save on energy, the more families that we can help in South Hampton Roads,” says Hruska. The Town Center event drew around 75 people, including Mayor Bob Dyer from Virginia Beach. There were also representatives from Merrill Lynch, TowneBank, Stihl, Sentara Healthcare, Hampton Roads Chamber of Commerce and more, including Lawson, which owns some 20 affordable apartment communities in Hampton Roads and Richmond. “We really admire what Habitat does across the country and certainly here in our region,” says Lawson President and CEO Carl Hardee. “It’s so good that Habitat works with qualified, local families to create affordable housing solutions.” Ensuring Habitat SHR is sustainable into the future is critical to that mission. That’s why Frank Hruska announced the Habitat SHR Fund, a reserve of dollars to create a sufficient principle in a conservatively invested account that will grow and produce an investment return to cover a third of the organization’s administrative needs. No withdrawals will be taken from the fund, which the Board approved in February, until sufficient principle is raised to meet the goal. It will be managed by Merrill Lynch. Mayor Rick West of Chesapeake was pleased to hear that Habitat SHR is taking such aggressive steps to remain viable. “Habitat has built a number of houses in my city, and that really has gone a long way to sustain neighborhoods and improve our tax base,” says West. “I am pleased that they are instituting this investment fund.” Also at the City Club event, which was sponsored by Stihl, Merrill Lynch, Hackworth, Rubin Communications Group, Corbin & Company, and South Bay Communications & Security, was

There is such a great feeling of accomplishment once you close on your own home and are handed the keys.

Angel Barnhill, a Habitat homeowner in Norfolk since 2012. She spoke about how owning an affordable Habitat home has positively impacted her life and that of her son Zevon. “Zevon has flourished and become more independent since we moved into our new home,” said Angel, who works for Sentara Healthcare in Community Engagement and Impact. “I tell everyone how much I appreciate what Habitat has done for me and other families.” Additionally, one lucky participant won a door prize drawing generously provided by The Historic Cavalier Hotel. “This has been a tough last few years for a lot of people and organizations,” said Cathy Harris, President of the Habitat SHR Board of Directors. “We must ensure that Habitat can weather any storm including pandemics, an aging donor base, giving pattern shifts, economic slowdowns, or a critical need elsewhere in the community like support after a natural disaster.” To learn more about the Habitat SHR Fund and how you can help, visit shrhabitat.org/habitatshrfund.

Joel Rubin, a former network affiliate TV reporter and anchor in Hampton Roads, is president of Rubin Communications Group and a freelance writer. He is also director of the WINDSdays campaign to promote clean energy. NOTE: Boulevard published a Habitat for Humanity of South Hampton Roads piece in our spring 2022 issue and promoted the Women Build Week program. Initially scheduled to run in May of this year, the Third Annual Women Build Week has been postponed until spring 2023. Make sure to check their web site for continued updates: shrhabitat.org/habitatshrwomen-build-week

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