Empowering Communities

Recently HomeBase has been able to facilitate several Down Payment Assistance successes within Camp Washington. HomeBase staff Alexus Wimbish and Karla Vargas sat down with Sidney Nation, Executive Director of Camp Washington Urban Redevelopment Corporation (CWURC), who has been working strategically to increase homeownership within the neighborhood. CWURC currently has six applications submitted to HomeBase for supporting funds for homebuyers.

Sidney explained the conception of CWURC’s down payment assistance program and how they qualify people for the additional HomeBase funds: "At the end of last year is when we kind of took a step back a little bit about CWURC, we redid our mission statement, redid our strategic plan, and kind of restarted," she said. "One of our key points is that we have seven single-family rentals in our portfolio, and it's never been in our mission or vision or anything, to rent single-family homes." With a clearer vision in mind, Sidney engaged in constructive conversations with other community development organizations, such as NEST, Seven Hills Neighborhood Houses, Working in Neighborhoods, and Price Hill Will.

Nation emphasized that the cornerstone of CWURC's mission has always been to provide homeownership opportunities to the residents of Camp Washington. With ownership rates close to 40% neighborhood residential, the organization recognized the critical need to create a program to enhance community investment and engagement. Sidney stated that “one way to get people at least living here and invested here is through homeownership and providing that opportunity." These conversations led to the discovery that many organizations were all working towards similar goals, but there were gaps in making homeownership possible. Determined to bridge this gap, she took the initiative to create meaningful partnerships with realtors and various banks.

"I ended up getting NEST Egg drafted mortgages and reviewed them and looked at them and brought those to the board to figure out what we needed. So, it's kind of like, why are we all doing the same things and not working together?" Sidney expressed.

CWURC then revamped the draft documents, tailoring them to fit the specific needs of Camp Washington. In November, they took a significant step by offering every house in their portfolio to the current tenants, providing them with an opportunity to transition from renting to homeownership. Out of the seven, there were four that were eager to take become homeowners. CWURC stepped in to support them throughout the process, making the transition from renting to owning a seamless journey. The organization took a strategic approach by listing the homes at a market rate that was locally comparable, ensuring fairness and transparency in the process. An essential aspect of their approach was to income-qualify all their tenants.

CWURC set prerequisites to ensure that applicants were well-prepared to undertake homeownership responsibilities. To apply for the program, applicants had to be pre-approved, have a lender, and be ready to proceed. This ensured that only those who were genuinely committed and financially capable of owning a home were considered. "We showed it to everyone. But when they submitted their application for the house, they also had to submit the CWURC application to our realtor. Two separate things," Sidney clarified. Once the applicants' lending and financial evaluations were conducted by their loan officers, CWURC reviewed each application individually. Upon qualifying applicants, CWURC provided them with a letter stating the amount they were eligible to receive through the organization. Additionally, CWURC combined its financial assistance with the Down Payment Assistance (DPA) program offered by HomeBase, enabling applicants to access the full amount for which they qualified.

This innovative collaboration between CWURC and HomeBase is proving to be a game-changer for Camp Washington residents, as it transforms community members’ aspirations of homeownership into reality. Mandy Askins, one of the beneficiaries of the program, is excited about the future with her kids in Camp Washington and is currently in the process of moving into her new home. She shared her experience with CWURC and the DPA program process, expressing how her connection to the Camp Washington community played a crucial role in her decision to become a homeowner. Having spent time in the area with friends, she felt like part of the community even before buying a home.

With increasing home prices, she found buying a house daunting and considered renting, but the high costs made it unaffordable. Already pre-qualified for a mortgage before the DPA program, she had been searching for a suitable place. Despite diligently monitoring her credit and finances, facing cash buyers and stringent requirements proved extremely difficult; she was pleasantly surprised when she was approved for down payment assistance. The program made homeownership achievable, and now she is thrilled to move her children to the community she has grown to love.

Sidney shared some exciting statistics about the houses they are selling through CWURC's efforts. Among the six properties under contract, of the six buyers, five are women, and three women are Black first-time homebuyers. Additionally, four of the buyers are single moms. Sidney expressed her excitement for these women, signifying a positive shift towards diversity in Camp Washington, which has traditionally been perceived as a white, Appalachian neighborhood.

Sidney also highlighted the importance of bringing both youth to the area and diversifying the community. Currently, Camp Washington does not have a designated school system due to the lack of children in the neighborhood. However, by attracting more families with children, they aim to become an assigned school district, receive more investment in their parks and city services, and build a future generation within the community.

HomeBase is thrilled to be a part of transformative development projects, especially those facilitating individual homeownership through the DPA program. We are thankful to have the opportunity to listen to first-hand the positive impact on people within communities like Camp Washington. HomeBase hopes you too recognize the significance of this program for community development.  By providing financial support and opportunities for first-time homebuyers, especially those from diverse backgrounds, the DPA program plays a vital role in creating a more inclusive and vibrant neighborhood. HomeBase firmly believes that promoting homeownership in neighborhoods fosters a sense of belonging, stability, and long-term investment, leading to sustainable growth and thriving communities. Offering the DPA program is a cornerstone of HomeBase's commitment to fostering positive change and advancing equitable community development in Cincinnati’s neighborhoods.