A Black homeownership and resource fair will take place at 10 a.m. Saturday at the Martin Luther King Jr. Memorial Library in northwest D.C., Mayor Muriel Bowser announced Wednesday.
The event aims to connect residents to the plethora of programs that exist in the District and understand which programs will help them to homeownership.
“We set an important goal: to add 20,000 Black homeowners by 2030,” Bowser said. “Now we’re focused on making sure residents have the resources and support to find and complete their journey to homeownership. When disparities are created through intentional action and discrimination, we must be just as intentional about reversing those disparities. And that is what we are doing with homeownership in D.C. Homeownership is a path to generational wealth, it is stability, and it allows you to bet on yourself, your family, and your future.”
The event is co-sponsored by the Office of the Deputy Mayor for Planning and Economic Development, the Department of Insurance, Securities, and Banking, and the Mayor’s Office of African American Affairs. There will be financial counselors, realtors, home appraisers and other real estate professionals to aid people in their quest for homeownership.
The mayor also announced a new Black Homeownership Marketing Campaign designed to educate African American residents about the city’s homebuying programs. A Request for Proposals will open at the end of the month for the company to implement the campaign.
My hope is we can discuss policy initiatives that stop displacement in Ward 6 . Many AA co- op owners are losing their homes as co-op boards Implement excessive assessments in the name of master planning and development. River Park Mutual Homes has levied over 8 million is special assessments in 2022-23.
Yes, but RP membership elected and authorized its board to borrow the money. Twenty years ago, the demographic at RP started changing from an older moderate fixed income generation to a younger more affluent generation. The new owners were totally on board with taking on debt, which started in 2015/2016 in a contentious vote. The membership was bamboozled by a hedge fund type who owned a townhouse there for a few years and sat on the board. That first loan left the older members living on their fixed incomes with no choice but to sell – and the younger members didn’t really care because they were imagining that the value of their properties were going to keep going up. But that hasn’t happened. Indeed, the older members ended up selling at a premium and not the younger generation is stuck with debt and declining values. Boo hoo.
Thanks Mayor Bowser for making these home Buyers Programs available. Talk more about the Legacy Home Program.
I am truly interested in that,what really got my attention was,generational wealth.
Hello ,
I’m a native of DC , just moved to New Jersey 10 months ago ,do I have to be a DC resident to benefit from the black homeownership”s benefits programs, looking to move back to DC , and do not want to rent if possible.