Habitat-NYC - Our Vision and Strategic Plan This year, Habitat for Humanity – New York City (Habitat-NYC) is launching a venture that will extend the faith and human kindness that we have embraced throughout our history. Through our secondever Capital Campaign, we will raise funds to acquire, rehabilitate and build new homes desperately-needed by hardworking New York City families. Our Campaign will transform neighborhoods and lives by giving first-time homeowners and their children a chance for a better, healthier and more secure future. Our current strategic plan calls for a five-year, $18.5 million investment in neighborhoods urgently in need of investment and stabilization. This $18.5 million investment will mobilize other sources of funding to enhance and strengthen Habitat-NYC’s impact on some of NYC’s most challenged streets and blocks. Each homebuilding dollar raised via the Capital Campaign will leverage at least $3 from other sources. At the top of the list of other sources, are the family partners themselves, who will have an opportunity to purchase their first-ever co-op or condominium at an affordable price.
Habitat-NYC - A Neighborhood Partner Over the past two decades, as New York City has grown dramatically more expensive, we have seen more and more low-income working families forced into dilapidated, overcrowded housing conditions. During the global recession, whole neighborhoods, home to thousands of working families, have suffered under the weight of vacant properties, blighted residential buildings and neglected community spaces. These alarming conditions have depressed property values and undercut the hopes of residents who seek a stable life for their families and their neighbors. Habitat-NYC works with these families—often led by administrative assistants, nurse’s aides and teaching assistants — as they seek a better future for their children in some of New York City’s most challenged areas. Our innovative model of real estate acquisition and development enables low-income working families to move away from overcrowded and dangerous conditions and into affordable, green homes where they can safely raise their families and contribute to the long-term growth and vitality of our neighborhoods.
Habitat-NYC - Our Vital Mission Habitat- NYC’s mission is to transform lives by building quality, affordable homes for families in need. We believe that quality, green, affordable housing is essential to New York City’s vitality and the well-being of its residents. Among the reasons why Habitat-NYC’s work is so critical right now are: w NYC is home to more than 100,000 families living in severely overcrowded situations; w The median household income in the three neighborhoods (Brownsville and Bedford-Stuyvesant, Brooklyn, and the South Bronx) where Habitat-NYC is most active, ranges from $17,842 to $27,852; w Homeownership rates in these neighborhoods range from 7.6% to 21.6%; w Foreclosure rates in these neighborhoods rank 1st, 2nd and 5th among NYC’s 55 neighborhoods; w Poverty rates in these neighborhoods rank 1st, 5th and 6th among NYC’s 55 neighborhoods; w Nearly one in four New York renters pays more than 50 percent of household income for rent and utilities, considered a “severe rent burden.”
Habitat-NYC - Our Investment in Families and Neighborhoods Habitat-NYC’s investment in low-income families is lifechanging. With the stability and security of a Habitat home, families truly have a chance to build a better future for themselves and their children. In a recent survey of Habitat homeowners conducted for Habitat-NYC, it was noted that:
w Children perform better in school after moving to a Habitat-NYC home; w Families are physically healthier after moving into a Habitat-NYC green home; w Family partners, after seeing thousands of volunteers help build their homes, typically become more involved in volunteerism and community service; w The financial circumstances of family partners are transformed as they move from renting to owning their homes. The economic and fiscal impact of a Habitat-NYC build, fueled by streams of volunteer labor, is profound. w In the South Bronx, Habitat-NYC completed its share of work, including the placement of a living green roof, on the General Colin L. Powell Apartments, our first joint venture with a private builder of affordable housing. w On a recent 41-condominium project in Brownsville, Brooklyn, Habitat-NYC infused $2 million into neighborhood businesses, and created over 100 new full-time jobs, during the construction period alone; w Current and pipeline construction will generate economic activity of $117,000,000 in the neighborhoods where Habitat is building affordable homes; w Tax revenues from this home construction activity will yield fiscal benefits of $25,000,000 to New York City; w Total spending of the residents who will move into Habitat homes is a net present value of $80,000,000.
Habitat-NYC - A Track Record of Success In the past several years, by adopting innovative new approaches to real estate acquisition and development, Habitat-NYC has tripled its production of affordable, green homes for low-income families. For this transformational work, Habitat-NYC has received honors for its achievements from the New York State Association for Affordable Housing as “Nonprofit Developer of the Year,” The New York Times Non-Profit Excellence Awards, Crain’s New York Business, the U.S. Green Building Council, and Affordable Housing Finance Magazine, among others. Recognizing this track record of success, the federal Department of Housing and Urban Development awarded HabitatNYC $20 million in matching funds to be paid out over the next three years to work in the communities of Brownsville and Bedford-Stuyvesant, Brooklyn, neighborhoods ravaged by disinvestment, overcrowding, and foreclosures. This award will provide a critical portion of the funds as we begin our work, but represents just a portion of the funding needed to maximize Habitat-NYC’s impacts in these neighborhoods.
An $18.5 Million Five-Year Capital Campaign Timing and Neighborhoods Years One-Three Target Neighborhoods: Bedford-Stuyvesant, Brooklyn; Ocean Hill-Brownsville, Brooklyn; South Bronx w Acquisition/Rehabilitation: Between 150 and 200 low-income working families will become homebuyers as a result of Habitat-NYC’s work; w New Construction: Between 12-50 low-income families will become Habitat-NYC homebuyers; w Neighborhood Capital Investments: 240 investments will be made in neighborhood schools, community centers, public parks, and playgrounds; w Volunteers Engaged: 30,000 volunteers will undertake this homebuilding and neighborhood improvement work. Years Four-Five Target Neighborhoods: Jamaica, Queens; Central Brooklyn; East New York; South Bronx w Acquisition/Rehabilitation: Approximately 100 low-income working families will become homebuyers as a result of Habitat-NYC’s work; w New Construction: Between 12-50 low-income families will become Habitat-NYC homebuyers; w Neighborhood Capital Investments: 160 investments will be made in neighborhood schools, community centers, public parks, and playgrounds; w Volunteers Engaged: 20,000 volunteers will undertake this homebuilding and neighborhood improvement work.
Community Investments Habitat-NYC anticipates that we will provide hundreds of low-income, working families with homeownership opportunities in distressed neighborhoods through a series of key investments: w Acquiring and rehabilitating vacant, stalled multifamily building projects; w Building new, green multifamily buildings on vacant properties previously used as trash lots or areas of illegal activity; w Partnering with private real estate developers on mixed-income building opportunities; w Partnering with nonprofit developers on the rehabilitation and/or co-op conversions of distressed multifamily properties. Specifically, Habitat-NYC is seeking support through this Capital Campaign to undertake the following initiatives:
Building Homes: Investments in Affordable Homeownership: $15,750,000 Keep Homes Affordable to Families in Need In affordable housing developments across New York City, the costs of construction are always higher than the sales price for affordable homes. The challenge for Habitat-NYC is to fill the “gap” between the cost of construction and the sales price. Depending on the cost structure of acquired and newly constructed buildings, Habitat-NYC may need to raise on average between $35,000 and $50,000 per home to ensure that low-income, working families will be able to afford the co-ops and condominiums we put on the market. In some buildings that are comparatively less costly to build or rehabilitate, Habitat-NYC will be able to “recycle” the donor’s full philanthropic investment once units are sold to our family partner homebuyers. In these 3
instances, the entirety of those funds will be re-applied to future affordable homebuilding projects. The cost to build, acquire and rehabilitate the co-ops and condominiums varies widely depending on a variety of factors (neighborhood, ownership structure, etc.). Based on our experience in the acquisition market, we are seeing the total cost of acquisition and rehab range from $60,000 to over $350,000 per unit. Habitat-NYC anticipates empowering over 250 low-income families, encompassing over 700 individuals, to become homebuyers over the next five years. The cost to reach this goal will be $15,750,000.
Stabilizing NYC’s Hardest-Hit Communities: Targeted, Strategic Investments: $1,750,000 1) Increase Habitat-NYC’s Community Investments Habitat-NYC’s Neighborhood Revitalization Initiatives, or “Brush with Kindness” projects, will repair and strengthen dilapidated community facilities such as community centers, public schools, public parks, playgrounds and senior centers. These projects will impact hundreds of thousands of New Yorkers in some of the City’s most distressed blocks and neighborhoods. Given the outsized demand for these investments, Habitat-NYC can quickly and efficiently expand the scope and impact of this program so that we could ultimately double its size, and also engage additional Habitat-NYC volunteers in this work. 2) Engaging Schools & Youth in Service and Workforce Development To date, Habitat-NYC has not had the capacity to meet the demand of NYC’s youth for service and learning opportunities. Habitat-NYC is seeking a capacity-building investment to work with young people in a meaningful, life-changing way. This funding will allow a capacity-building investment in personnel to coordinate and lead youth volunteers from 50 campus chapters citywide, both in the classroom, and on our work sites. The Habitat-NYC work site offers a remarkable opportunity for disadvantaged or disengaged youth to gain valuable skills in construction, volunteer leadership, and teamwork. Through an investment in a workforce development program, Habitat-NYC would seek to offer ten+ opportunities per year for youths from the communities where we build to receive job-readiness and leadership skills that will be transformational in their personal and professional development.
Carrying out our Commitment: Increased Impact and Continued Growth: $1,000,000 Building the Capacity to Extend our Reach Over the course of our Campaign, Habitat-NYC will substantially increase the scope of our homebuilding efforts and the impact of programs that serve the residents of some of New York’s poorest and most neglected neighborhoods. As we build more homes and reach more families, the Capacity Building Fund will provide support to help develop our infrastructure and sustain vital program initiatives. The Capacity Building Fund will ensure Habitat-NYC responds to critical areas of need and achieves our Capital Campaign goals. Habitat-NYC cannot achieve its goals and objectives without support from an array of individuals, corporations, foundations, and faith groups. We encourage you to join us in this important, urgent work. To learn more, please call 212-991-4000. “Everything has changed since I became a Habitat-NYC homebuyer. My children are healthier and doing better in school. Our financial situation has dramatically improved. And my whole view of the world has been changed. I watched thousands of volunteers work alongside me to build my condominium . . . and now I want to give back however I can. I could never have imagined so many strangers would care that much about me and my family!” —Candace George, single mother of 5, Bedford-Stuyvesant homeowner, new Habitat-NYC Board Member