The Birmingham Times, March 18, 2022, Birmingham Mayor Woodfin, public-private partnership deliver affordable homeownership
Three new homeowners are looking forward to getting the keys to their homes after a ribbon-cutting Thursday at the newly developed Oak Hill area of Belview Heights in Ensley.
The ceremony was the culmination of an objective by Mayor Randall Woodfin to revitalize Birmingham communities through affordable homeownership. It was made possible by a $25 million public-private partnership between the city of Birmingham and the NCRC Housing Rehab Fund, also known as GROWTH by NCRC (Generating Real Opportunities for Work Through Housing).
GROWTH by NCRC provides homeownership opportunities for low- and moderate-income communities and people, with a focus on communities of color. In five years, GROWTH has invested in nearly $150 million nationwide. GROWTH by NCRC also provides workforce development and housing counseling through local partnerships with community organizations in the areas they serve.
Ed Gorman, managing director for the NCRC Housing Rehab Fund, compared the public-private partnership to a unicorn.
“We’re a private equity fund, started by a nonprofit doing affordable homeownership,” he said. “That doesn’t exist on a national basis anywhere else.”
