Home South DeKalb was a 3.5-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 invested more than $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.

 

ANDP's Home South DeKalb initiative concluded in December 2021 with the following results.

 

DEVELOP 100 HOMES (with a focus on Homeownership)​​​

• 109 homes were developed. 83 were homeownership, 26 were rental.

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INCREASE ACCESS TO DOWN PAYMENT ASSISTANCE

• $1.4 million in down payment assistance was provided to 102 homebuyers. Note that ANDP's down payment assistance was offered to those purchasing ANDP homes and homes not produced by ANDP.

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FOCUS ON SUSTAINABLE/GREEN DEVELOPMENT

• ANDP conducted an energy audit on several homes developed, revealing an annual utility cost savings of $427, a water usage reduction of 700 gallons, and a reduction of CO2 emissions by 2.25 tons.

 

INCREASE CDFI INVESTMENTS​

• ANDP and its CDFI partner, Reinvestment Fund, held a symposium for developers interested in accessing capital for affordable housing development in DeKalb County -- laying the groundwork for future CDFI capital use.

• ANDP was able to provide an extension of an existing $235,000 loan to a developer impacted by the COVID pandemic. 

• ANDP recently closed on a $1.5M loan to develop 40 townhomes. Details soon.

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ENGAGING STAKEHOLDERS & RESIDENT LEADERS 

• ANDP met and sought the advice of a DeKalb County-based advisory committee of 60+ multi-discipline members. 

• 10 DeKalb County resident leaders were chosen to attend NeighborWorks America's National Community Leadership Institute.

• Those 10 DeKalb resident leaders helped ANDP plan multiple "Neighbors Together" events, ultimately providing resident leadership training to more than 200 South DeKalb residents. 

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While the Home South DeKalb initiative has closed, ANDP's work in South DeKalb will continue to address housing affordability. Since the onset of the foreclosure crisis in 2008, ANDP has, in partnership with DeKalb County and other partners, rehabbed or built more than 300 homes. These homes include those developed using the Federal Neighborhood Stabilization Program, HUD's HOME/CHDO program, and ANDP's private partner program - which produced the bulk of the Home South DeKalb initiative homes. 

 

ANDP anticipates ongoing annual production in South DeKalb to include 10-15 rental homes and 10-15 homeownership opportunities. Production varies based on access to development capital and success in acquiring developable land or properties. 

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Questions? Contact comments@andpi.org

 

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