July 2018

 

Home South DeKalb is a three-year initiative to lift homeownership rates, restore family wealth, increase neighborhood stability, and improve resident health and wellness outcomes in South DeKalb. With the initiative, ANDP will invest $20 million of its existing and new capital to improve areas hardest hit by the foreclosure crisis, especially those neighborhoods impacted by the lingering effects of negative equity.

 

More than 10 years after the start of the foreclosure crisis, metro Atlanta families and neighborhoods continue to struggle with the aftermath of underwater home values and disinvestment. South DeKalb lost more than 18,000 homeowners during the crisis and nearly one in three of its homeowners owe more on their mortgages than their homes are worth.

 

“We are excited to launch this holistic housing initiative in South DeKalb. ANDP has partnered with DeKalb County on housing issues for much of its 27-year history. Since the onset of the foreclosure crisis, we’ve partnered to impact more than 200 DeKalb single-family homes. We’re mobilizing to increase our scale in South DeKalb to maximize our impact on families and communities,” said John O’Callaghan, ANDP president and CEO.

 

At the completion of the three-year effort (ending December 2021), the Home South DeKalb initiative will result in:

 

• 100 newly redeveloped single-family homes (with a focus on homeownership);

• Increased focus on long-term sustainability and affordability of the home through enhanced green and healthy rehabilitation standards; 

• Increased lending from the ANDP Loan Fund to developers of affordable housing,

• Access to down payment assistance from sources managed by ANDP, 

• Enhanced community engagement efforts for neighborhood leaders, and

• A commitment to collaborate with housing, community, and governmental entities and a broader network of health, educational and other partners to improve health, equity and economic outcomes in South DeKalb.

 

“The Home South DeKalb initiative complements the county’s renewed commitment to eradicating blight, improving affordable housing opportunities and enhancing quality life for all DeKalb County residents,” said DeKalb County CEO Michael Thurmond.,” said DeKalb County CEO Michael Thurmond.

 

“ANDP takes seriously the word ‘partnership’ in its name. It is only with combined efforts of partners like DeKalb County, NeighborWorks America and our other funding partners that we can make an impact in our communities. Our partnership with DeKalb County’s Community Development Department has improved our development capacity. We’ve grown from a pilot project of six homes starting in 2008 to become metro Atlanta’s largest producer of quality rehabbed homes for sale to low- and moderate-income families,” said O’Callaghan. “We look forward to continuing to serve DeKalb County and its residents.”