SAN FRANCISCO – Lennar Urban has launched a Homebuyers Assistance program in connection with the redevelopment of the Hunters Point Shipyard to qualify Bayview Hunters Point residents for homeownership on the Shipyard. Residents who attend the monthly workshops receive free credit reports, a first step to qualifying for homeownership.
The Homebuyers Assistance program is part of the Lennar/BVHP Community Benefits Agreement, a suite of community programs sponsored by Lennar and run in partnership with the San Francisco Redevelopment Agency. The Community Benefits Agreement is designed to support economic development and the creation of positive, long-term benefits for residents and local businesses.
Lennar has hosted 25 Homebuyers Assistance workshops in the past two years to promote first-time homeownership. To date, more than 500 Bayview Hunters Point residents have participated in these workshops.
“The goals for the workshops are to educate residents on homeownership opportunities and first-time homebuyer financing programs, as well as put residents in touch with organizations that offer one-on-one homebuyer counseling services,” says Lynn Bell of Lennar Urban’s Bay Area Division. “The workshops are meant to give residents the confidence and tools to become homebuyer ready and put them on the right financial track to owning their first home.”
The workshops review both market-rate opportunities, as well as provide a summary on the Limited Equity program, which is the affordable housing component for the sale of the homes on the Shipyard. Approximately 30 percent of homes will be affordable to low-income families.
“The Community Benefits show that Lennar considers its work at Hunters Point Shipyard more an investment in the residents of this community than just a long-term construction project,” says Kofi Bonner, President of Lennar Urban’s Bay Area Division. “We are as dedicated to improving people’s lives as we are to improving this section of San Francisco.”
The next Homebuyers Assistance workshop will be held on Tuesday, July 17 from 6:30 p.m. to 8:30 p.m. at the Lennar Trailer at the Hunters Point Shipyard.
The first phase of redevelopment covers 63 acres of the Shipyard and includes construction of 1,500 homes, 20 acres of recreation and open space, as well as 10,000 square feet of commercial and retail space.
For more information, visit www.hunterspointshipyard.com.