OUR STORY

Hope Housing Foundation can Help

Hope Housing Foundation (HOPE) is a Texas nonprofit corporation dedicated to the creation and preservation of affordable workforce housing for low to moderate income families and individuals, and community development. The Foundation, which is headquartered in McKinney, Texas, was incorporated as a 501(C)(3) in 1998. As a nonprofit organization committed to housing, HOPE reinvests excess revenues in its charitable mission. HOPE has a business model that will position us as one of the most effective, impactful nonprofit affordable workforce housing organizations in the Country.

Imagine not having a place to live. Imagine having no address. Imagine trying to provide for your family while living in a car, a shelter, or on the city streets. Now, imagine having your own home, with your own bed, and your own yard, and your own address. Imagine that reality. That is what we do at HOPE Housing Foundation – we turn dreams into realities for those who have found themselves homeless and in some cases hopeless. We are committed to providing a path for vulnerable populations to go from homelessness into a home, keeping families intact while finding tangible solutions to combatting and ending homelessness in the communities we serve, and turning the dream of home ownership into a reality.

According to the U.S. Department of Housing and Urban Development (HUD), in 2014, 19,177 persons were homeless in Texas. They have found themselves homeless due to the devastating effects of poverty, the loss of a job, long-term unemployment, domestic violence, and mental illness among other things. One of the main causes of families finding themselves homeless is the lack of affordable housing. Housing costs are rising all over the United States. People are finding themselves priced out of the rental market and home ownership has become an impossible dream for a large segment of our population.

HOPE Housing Foundation is doing our part to change this by creating a path to home ownership and providing housing to our community by making single family and muli-family housing affordable to our low/moderate/middle income families. We are able to go into targeted neighborhoods, identify and take over mismanaged properties, rehabilitate and restore them and make these properties available to meet the needs of families and individuals who need safe, affordable, and quality housing.

By investing in impoverished homes and complexes, we are able to revitalize communities, change lives, and make an impact on neighborhoods. HOPE Housing Foundation is vested in making sure that everyone can find safe, decent, affordable housing where they work, shop, and go to school, while enjoying the benefits of community. We are investing in families and combatting homelessness, making what seems to be the impossible, possible.

Our foundation is making meaningful inroads into providing housing for our homeless population and enhancing the quality of life for families, seniors, and those with special needs. We are vested in this complex journey of providing housing to a vulnerable population that knows the devastating effects of homelessness, poverty, mental illness, and aging. As agents of change, we are committed to bringing and restoring life into families and communities.

HISTORY OF HOPE

June 2014

HOPE, in partnership with the United States Department of Housing and Urban Development (HUD) acquired Cypress Cove Apartments (formerly Beechgrove Apartments), a 468 unit multifamily housing development located in Westwego, LA. 100% of the units are set aside for residents at 50% or 80% of the Area Median Gross Income as defined by HUD.

HOPE is focused on the acquisition and preservation of existing affordable housing communities. Through efficient asset oversight, management, and ownership, HOPE will maintain and \ or provide stability to the current operations. HOPE will concentrate on providing quality management services to the residents of these communities to ensure all affordable housing requirements are met and strict adherence to apartment leasing laws are applied. HOPE currently has a staff of experienced real estate and affordable housing professionals with a passion to meet the needs of the affordable housing community. The Board of Directors commit to ensure all properties owned and operated by HOPE are an exceptional example of quality affordable housing and a beacon of hope within their communities.

The ability to serve our Residents, Limited Partners, and Governmental Agencies in either of the aforementioned capacities would benefit all parties. HOPE, as a replacement general partner for a non-performing general partner, could possibly reduce the probability of any tax credit recapture for the limited partners, as a qualified replacement of a Non Public entity, could possibly reduce or eliminate the loss of ad valorem taxes associated with communities that currently possess the exemptions. In most cases, events such as these could dramatically affect the operations of the communities, and prohibit the ability of the community to service the needs of the residents.

We appreciate the opportunity to introduce you to HOPE. The following pages will provide you with information, future plans and goals of the Foundation, and unfold our sincere passion to uplift, strengthen and stabilize our communities with HOPE.

March 2014

HOPE, in partnership with the United States Department of Agriculture (USDA), United States Department of Housing and Urban Development (HUD), and Medlock Southwest Management, acquired Lavaca Landing Apartments, a 24 unit housing development in Hallettsville, Texas. 100% of the units are set aside for resident at or below 50% of the Area Median Gross Income, as defined by HUD.

December 2013

The Foundation relocated its principal office from Amarillo, Texas to McKinney, Texas.

October 2013

HOPE, in partnership with the Texas Department of Housing and Community Affairs and the Enterprise Foundation, purchased Eban Village Apartments, a 330 unit multi-family housing development located in Dallas Texas. 100% of the units are set aside for residents at 30%, 50% or 60% of the Area Median Gross Income, as defined by HUD. HOPE has partnered with the City of Dallas to provide housing through a HUD funded City Grant for up to 70 families or persons that have experienced chronic homelessness. Some of these units are in Eban Village.

March 2013

Hope acquired the Limited Partnership Interest of Sea Greens Apartment Homes, giving 100% ownership to the Foundation.

December 2011

HOPE acquired the General Partnership Interest in Sea Greens Apartment Homes, a planned unit development of 110 single family homes operated as an apartment home community located in Port Lavaca Texas. 100% of the units were set aside for residents at or below 60% of the Area Median Gross Income, as defined by HUD, and 5% of the units are used as transitional housing units for families that have experienced financial hardships.