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Habitat Introduces New San Francisco Development
REDWOOD CITY, Calif., November 8, 2008 - Construction on a new affordable ownership housing development from Habitat for Humanity Greater San Francisco begins this month at Whitney Young Circle in San Francisco's Bayview neighborhood. The new Habitat development, which is expected to be completed in early 2010, addresses the critical need for safe, decent housing for local working families. Community support is vital to the Habitat program. The American Bankers Association (ABA) is a national sponsor of Habitat for Humanity and one of the first to partner with Habitat Greater San Francisco on this development, demonstrating its strong commitment to help eliminate poverty housing and strengthen the local community. The ABA, through its Housing Partners Foundation, has donated $150,000 to sponsor a home at Whitney Young Circle. In partnership with Habitat Greater San Francisco's parent organization Habitat for Humanity International, the ABA took part in a ceremonial "wall raising" at the construction site as part of Habitat Greater San Francisco's kick-off event on November 8th. The special ABA-Habitat build event was held in conjunction with the ABA's annual convention in San Francisco. "We at the ABA Housing Partners Foundation are delighted to be a part of the Whitney Young Circle development," said Tracy Rock, Chairman of the ABA Housing Partners Foundation. "What better partner than Habitat for Humanity to help us serve our Convention communities and leave a permanent thank you for sharing your community with us." "The ABA is helping to make homeownership a reality for local families and we are honored to be partnering with them on the Whitney Young Development," said Phillip Kilbridge, Executive Director of Habitat for Humanity Greater San Francisco. "Through its significant investment in this development, the ABA is sending a clear signal of support and hope to the local community that we can make a difference to help improve the state of affairs in housing." The ABA Housing Partners Foundation is a voluntary non-profit organization of ABA members that raises funds for a designated charity in the host city of ABA's annual convention. Since its inception in 1991 as part of America's Community Bankers, Housing Partners has donated more than $1.8 million. to local charities nationwide. The November 8th Whitney Young event will be the ABA's eighth Habitat home build and its second in San Francisco. In 2002, the ABA helped build an eight-home condominium development at 1009 Mission Street, which was the tallest Habitat building constructed anywhere in the world. The Whitney Young Development will provide seven new single-family homes on land acquired through the San Francisco Redevelopment Agency. Designed by noted architect John Schlesinger, the four bedroom, two-bath homes complement nearby structures, ensuring that they mesh well with the existing neighborhood. They also include environmentally-friendly components such as solar photovoltaic roof panels and will accommodate residents with mobility impairments Future homeowners are being selected from families who reside in the local community, meet income guidelines, have good credit, are able to make monthly mortgage payments, and are willing to contribute 500 hours of "sweat equity" to help build their new community. Habitat houses are sold to them at no profit and financed with affordable, zero-interest mortgages structured never to exceed one-third of their monthly income. Several successful Habitat developments have been built already in Bayview-Hunters Point, involving thousands of local volunteers and empowering local partner families to become homeowners. About Habitat for Humanity Greater San Francisco
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