Habitat CFC is Advancing Black Homeownership (ABH) through Financial Coaching: A New Approach to Advancing Wealth
Habitat’s ABH initiative, led by Eugene Gaillard ABH Program Manager, has amplified the necessity for affordable housing in Coastal Fairfield County. We are excited to announce that Habitat CFC has partnered with Elevate Financial to offer financial coaching for prospective homeowners.
As the housing market continues to evolve, there is a growing recognition of financial education’s pivotal role in building sustainable pathways to homeownership. Historically, Black households have faced obstacles in accessing and maintaining homeownership, often due to systemic inequalities, discriminatory lending practices, and limited access to financial resources. To combat these disparities, we offer a fresh approach that strongly emphasizes financial coaching tailored to the specific needs and challenges individuals and families face.
This innovative approach goes beyond traditional homeownership programs by integrating comprehensive financial literacy training, personalized coaching, and targeted support systems. The program will provide aspiring homeowners with the necessary tools to navigate the complexities of the housing market, individuals are empowered to make informed decisions, build strong credit profiles, and establish better financial habits.
According to the program facilitators James E. Boursiquot and Rozha Pessoa, “the essence of this approach lies in fostering a holistic understanding of financial management, encompassing budgeting, credit management, mortgage literacy, and long-term wealth-building strategies.” Through one-on-one coaching sessions, individuals are guided through of the home-buying process, helping them understand financial jargon and navigate the details of mortgage applications.
“This approach emphasizes the cultivation of long-term financial resilience and generational wealth-building strategies for our prospective homeowners,” says Director of Family Services Valencia Goodridge. As the State of Connecticut navigates the complexities of the present-day housing landscape, we work to make significant strides towards building a more just and inclusive future were homeownership serves as a beacon of hope, self-determination, and a cornerstone for generational prosperity within the low-income individuals in the Coastal Fairfield County community.
Habitat for Humanity of Coastal Fairfield County and Town of Fairfield to Join for Groundbreaking Ceremony to Celebrate First-Ever Partnership to Create Affordable Homeownership Opportunities in Fairfield, CT
September 05, 2023
FOR MORE INFORMATION:
Josue Jorge, Director of Communications and Volunteer Services
203-333-2642 ext. 102; 475-422-4444
jjorge@habitatcfc.org
Fairfield, CT – Carolyn Vermont; CEO of Habitat for Humanity of Coastal Fairfield County, is excited to join First Selectwoman Brenda Kupchick and Mark S. Barnhart; Director of Community and Economic Development, to break ground on the first-ever partnership between Habitat for Humanity of Coastal Fairfield County and the Town of Fairfield. Habitat CFC will build four affordable homes on town-owned property on Greenfield Street.
WHO:
Carolyn Vermont; CEO of Habitat CFC, Kevin Moore; COO, Habitat CFC Board of Directors, First Selectwoman Brenda Kupchick, Mark S. Barnhart; Director of Community & Economic Development and community members
WHAT:Habitat for Humanity of Coastal Fairfield County and Town of Fairfield representatives will join community members for a groundbreaking ceremony to celebrate its partnership, share timeline details, and begin construction of four affordable homes in Fairfield, CT. More info
WHEN:Thursday, September 7, 2023 at 4:30 PM
WHERE:240-246 Greenfield Street, Fairfield, CT 06825 (parking available at 160 Greenfield Street)
WHY:The Greenfield Street development will be the first project undertaken by Habitat for Humanity of Coastal Fairfield County in the Town of Fairfield. While Habitat has had great success in creating affordable home ownership units elsewhere within Fairfield County, the organization has not been able to identify similar opportunities within the Town of Fairfield — until now. The Town of Fairfield is partnering with Habitat CFC by purchasing the land and providing the organization with a no-cost, 75-year, renewable ground lease to develop four new affordable home ownership units in Fairfield, where the median sales price of a single-family home exceeded $800,000 in 2022. The Town and Habitat CFC are hopeful that this project will serve as a model that can be replicated elsewhere within Fairfield, adding to the Town’s current inventory of 625 affordable housing units.
Habitat CFC 2023 Annual Gala Raises Funds to Support the Build of the Eleventh and Twelfth Affordable Homes on a Large Chopsey Hill Road Property in Bridgeport, CT
BRIDGEPORT, CT – Habitat for Humanity of Coastal Fairfield County announces that it successfully raised funds during its Annual Gala Masquerade Ball to support the build of two new affordable homes at 427 Chopsey Hill Road in Bridgeport, CT. The two affordable homes will be constructed on the same property as the ten homes recently funded by a $2 million Congressionally Directed Spending grant that was nominated by Senator Blumenthal and Senator Murphy and awarded to Habitat CFC on March 20, 2023.
The night of celebration was attended by 222 guests and included live music by Motown Band Le’ Mixx, a night of dinner and dancing, a silent auction, and a live auction. Future Habitat homeowner Candice Stanford shared her personal story, the excitement of becoming a homeowner, and explained that her motivation to follow through with the home buying process has been the promise of a bright future for her daughter made possible through Habitat homeownership.
Candice stated, “Having my daughter in a home that is ours would just give us the stability I never had, that she never had. We won’t have to move from place to place anymore, no more rent being raised every month — it will just be us in a place that is our true home!”
Before seeking funds to build homes for the Chopsey Hill Road property, Habitat CFC first successfully fundraised $1 million dollars to purchase the 2.27 acres as well as to support the construction of road infrastructure. The funding was raised through an exciting matching grant opportunity provided by long-time Habitat CFC donors and visionaries George and Carol Bauer. The Bauer Foundation doubled the impact of $500,000 in donations to Habitat CFC which brought the funds raised for acquisition and infrastructure to a total of $1 million dollars.
Carolyn Vermont, CEO of Habitat CFC stated, “We are grateful that we have gained swift support from our Federal, State, and local delegation for our plans to build new affordable homes on Chopsey Hill Road. We feel equally blessed that we had many long-time and first-time donors meet the opportunity to have their contributions matched by George and Carol Bauer which allowed us to acquire the land and begin this exciting journey in the first place. In addition to all of this early support, our annual gala was a great success with many generous donations that will fund the future of our work and its transformational impact on the lives of low-income, hardworking, and deserving families in our community.”
Next steps for the Chopsey Hill Road property will include raising funds to support the build of two more homes to bring the total to fourteen new, affordable homes to be constructed by 2025. For additional progress updates on this property and other news from Habitat CFC, follow us on social media or visit habitatcfc.org.
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Habitat CFC Announces Motown Band Le’Mixx as Live Performance for 2023 Annual Gala: April Fools’ Masquerade Ball
Tickets and Sponsorships Available for the Exciting Night of Celebration
BRIDGEPORT, CT – Habitat for Humanity of Coastal Fairfield County CEO Carolyn Vermont invites community members to the Habitat CFC 2023 Annual Gala: April Fools’ Masquerade Ball. The night of celebration will include live music by Motown Band Le’ Mixx, a night of dinner and dancing, a silent auction, and an exciting live auction. Proceeds from the sale of tickets, sponsorships, and auction items will support the Habitat CFC mission to build decent, stable homes and bright futures for hardworking low-income Fairfield County families. The April Fools’ Masquerade Ball will be hosted in Darien, CT at the Woodway Country Club (540 Hoyt Street) on April 1, 2023, from 6:30pm to 11pm.
During the night, Habitat CFC will present the Second Mile Award to Genworth Financial and Volunteer of the Year Awards will be presented to Daniel S. Nagel, Esq. and Michael C. Sohon, Esq.
- Genworth Financial has volunteered with Habitat CFC for many years. As a dedicated corporate neighbor, Genworth Financial employees have joined Habitat CFC four different times throughout 2022 to help in the construction of affordable homes in our community!
- Attorney Nagel has volunteered over twenty-two years of pro-bono services for over two-hundred closings on Habitat CFC homes. He has also provided various pro-bono legal services and assistance with refinance closings.
- Attorney Sohon has volunteered over 10 years of pro-bono services as a closing attorney in one of the final steps of making their dream a reality for nearly one-hundred Habitat CFC families. Attorney Sohon has also provided Will preparations for a low fee and pro-bono legal guidance.
Genworth Financial, Attorney Nagel, and Attorney Sohon’s legal services have been invaluable and their commitment has made an incredible impact in support of the Habitat CFC mission to build community and improve lives in Fairfield County.
Carolyn Vermont stated, “This is going to be a wonderful celebration of Habitat CFC’s impact and I am hoping you can join us. Your organization’s participation, as a sponsor or attendee, will contribute to supporting our mission as we proudly mark 38 years of partnering with hardworking low-income families, volunteers, and donors to build affordable homeownership opportunities in Coastal Fairfield County.”
For more information about Habitat CFC’s 2023 Annual Gala: April Fools’ Masquerade Ball, visit habitatcfc.org/gala.
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Habitat CFC Announces First 2023 CEO Speaker Series Event with Keynote Speaker David Femi in Celebration of Black History Month
Habitat CFC Announces First 2023 CEO Speaker Series Event with Keynote Speaker David Femi in Celebration of Black History Month
BRIDGEPORT, CT – Today, Habitat for Humanity of Coastal Fairfield County announces that it will celebrate Black History Month in conversation with David Femi from M&T Bank. The live presentation is the first part of this year’s four-part CEO Speaker Series moderated by Carolyn Vermont, Chief Executive Officer of Habitat CFC. The event will be held on February 15, 2023, from 12:00-1:00pm via Zoom.
David serves as Senior Vice President, Business and Professional Banking Regional Manager – Fairfield County and Southern CT, and Head of Multicultural Banking & Diverse Market Strategy at M&T Bank.
A change advocate with a deep sense of community, David has built a reputation for championing financial services inclusivity aimed at empowering families and small businesses by adding strength and resiliency to our diverse communities.
Interested participants are invited to register to attend this free virtual event by visiting habitatcfc.org/CEO-speaker-series. The event will provide attendees the opportunity to contribute to the conversation by asking questions, sharing comments, and hearing from David as we reflect on and honor the triumphs and struggles of African Americans in our local and national history.
Future events in the CEO Speaker Series will recognize and celebrate Women’s History Month, National Caribbean-American Heritage Month, and National Hispanic Heritage Month – each with a unique special guest of diverse backgrounds and perspectives from our local community.
Stay informed on Habitat CFC upcoming events by visiting habitatcfc.org/events.
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Habitat CFC receives $5 million gift from MacKenzie Scott, part of $436 million gift to Habitat for Humanity
Habitat for Humanity of Coastal Fairfield County, Habitat for Humanity International and 83 Habitat affiliates receive transformational $436M gift from MacKenzie Scott
The “transformational” grant is the largest one-time gift Habitat for Humanity of Coastal Fairfield County has ever received.
BRIDGEPORT, CT (March 22, 2022) — Habitat for Humanity of Coastal Fairfield County (Habitat CFC), along with Habitat for Humanity International, and 83 U.S. Habitat affiliate organizations, recently received $436 million in unrestricted giving from American author and philanthropist MacKenzie Scott. Of that, Habitat CFC received $5 million. This transformational donation will substantially help further Habitat CFC’s vision of a world where everyone has equitable access to a decent and affordable place to call home.
“Habitat for Humanity of Coastal Fairfield County is thrilled to receive this truly transformational gift from MacKenzie Scott,” said George Keith, Habitat CFC Board Chair. “The affordable housing crisis is affecting many families in Coastal Fairfield County. With this gift we will be able to offer more low-income families the opportunity to become homeowners.”
Habitat CFC will use the $5 million donation to fund their mission of bringing affordable homeownership into reach for hardworking, low-income families in the community.
With a national shortage of affordable homes, housing prices locally and nationally have skyrocketed since the beginning of the pandemic. Through Habitat CFC’s affordable homeownership program, local families partner with the nonprofit to work alongside volunteers building homes, complete a curriculum of financial education and homeownership classes, then purchase a home for an affordable zero-percent interest mortgage. This donation will enable Habitat CFC to expand their efforts and help more families build the strength, stability, and self-reliance of a place to call home.
“When I received the call about this gift, I was overwhelmed with emotion and cried tears of joy,” said Carolyn Vermont, Habitat CFC CEO. “This gift will make a huge impact on the lives of the underserved and marginalized communities in Coastal Fairfield County, especially our Bridgeport, CT community. Thank you, MacKenzie Scott!”
Habitat International will use its $25 million portion of the donation to prioritize advocacy and programmatic efforts designed to dismantle systemic racism in housing. Specifically, the donation will allow Habitat to advocate for policy proposals and legislation that enable millions of people access affordable housing through its Cost of Home advocacy campaign; increase Black homeownership in the U.S. by targeting current systemic barriers through a new initiative that will launch this summer; and leverage innovative capital investments that service communities of color.
“Habitat works to break down barriers and bring people together — to tear down obstacles and build a world where everyone, no matter who we are or where we come from, has a decent place to live,” said Habitat for Humanity International CEO Jonathan Reckford. “This incredible gift helps make that work possible.”
About Habitat for Humanity of Coastal Fairfield County
Habitat for Humanity of Coastal Fairfield County seeks to build community and improve lives by partnering with low-income families, community volunteers and donors to build decent and affordable homes in stable and welcoming neighborhoods. Habitat CFC has a proud thirty-seven year history and well-earned reputation for success throughout the region. We are a developer with a commitment to “green” construction, a family service agency, non-profit financial institution, community advocate and provider of over 8,000 volunteer opportunities each year. Habitat CFC transforms abandoned properties into homes for tax-paying, contributing community members. Since 1985, Habitat CFC has dedicated 277 homes and has helped more than 1,100 family members in Fairfield County. Our success rate is well over 95%. Our ReStore, located in Stratford, accepts donations of furniture, appliances and building materials, and then resells them. The proceeds from the ReStore help the organization build more affordable housing in Coastal Fairfield County. For more information, visit habitatcfc.org.
About Habitat for Humanity International
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.
Construction costs have skyrocketed – donate now and help us keep building!
Dear Friends,
The cost of building a house has skyrocketed since the beginning of the COVID-19 pandemic. The increased cost of construction materials means that we are paying an additional $12,500 for each home we build. Last year, we had to close our offices and ReStore, limit the number of volunteers on site, and learn to work in new ways. We’ve conquered those challenges and now are fully open. However, we face this new challenge—exorbitant building costs due to limited supplies, as well as product material delays caused by pandemic-induced problems in the supply chain. We need your help to overcome this challenge.
The pandemic forced families to wait longer to purchase their Habitat homes. These increased costs may compel us to make an even more difficult decision. We build an average of 12 homes a year. When we multiply that number by the additional costs per house (12 X $12,500= $150,000) you can see that if we do not obtain additional funding, we will be left with no other option but to build one less home a year. That means one less family will get the opportunity to purchase a home.
“This opportunity will change my entire family’s lives. It will give my wife and I peace of mind knowing that our children will have a safe home to come home to,” said Ariel, future homeowner. “Our children will experience things that my wife and I were not able to experience, living in a home owned by our parents.”
In order to keep our homes affordable for families like Ariel’s, we cannot pass the additional costs on to our future homeowners. Instead, we need to raise funds to offset these unexpected construction expenses. This is where you come in.
We hope you, along with other donors, volunteers and businesses recognize the importance of our mission and help us BUILD UP our Construction Cost Fund. A donation of any amount, when pooled together with other supporters, will keep us building and we will not have to make the difficult decision of which family will not get to purchase a home.
Please help us BUILD UP our Construction Cost Fund today.
Sincerely,
George Keith
Board of Directors, Chair
P.S. If you’ve recently given, please know we appreciate your gift.
P.S.S. You can donate online by going to habitatcfc.org/donate.