Hampton Roads REALTORS® Foundation Helps Stabilize Family in South Norfolk
Norfolk, VA — The Hampton Roads REALTORS® Foundation proudly announces a generous grant of $5,000 to the Habitat for Humanity of South Hampton Roads, in support of their Heroes Build Week project. The contribution, presented in January 2024, signifies the commitment of the REALTOR® community to making a positive impact in the areas they serve and call home.
The Hampton Roads REALTORS® Foundation (HRRF), a dedicated philanthropic arm of the local Hampton Roads REALTORS® Association, recognizes the importance of affordable housing and the invaluable work carried out by organizations like Habitat SHR. The $5,000 grant is specifically earmarked to help offset the increased construction costs of a new build on Commerce Street in the South Norfolk area of Chesapeake. When completed, the home will be sold to a local low-income family who is fully qualified for a mortgage, save for inadequate income. Habitat’s “Hand-up; not a Hand-out” model will allow the family to obtain an affordable mortgage with a payment including Principal, Interest, and Taxes (PI&T) of no more than 30% of their monthly income, increasing the family’s disposable income and making a way for the family to secure better healthcare, safe childcare, reliable transportation, and higher paying employment.
"Home ownership is the backbone of America. It is not only the #1 way that people accumulate wealth, but it also stabilizes families,” said Habitat SHR executive director Frank Hruska as he expressed his gratitude for the funds.
The Hampton Roads REALTORS® Foundation believes that collective efforts from local organizations are critical in breaking the cycle of generational poverty. And thanks to the leadership of 2023 HRRF board chairwoman Kim Georges, the Foundation continues to promote safe, affordable housing in Hampton Roads.
For more information about the Hampton Roads REALTORS® Foundation or to inquire about their community involvement initiatives, please visit hrrafoundation.com.
About Hampton Roads REALTORS® Foundation:
HHRF exists to support housing opportunities and build strong community relationships. This is accomplished through four pillars of accountability: education, advocacy, relief, and action.
About Habitat for Humanity of South Hampton Roads:
The mission of Habitat SHR is to create affordable housing solutions that strengthen families and communities in South Hampton Roads. This is accomplished by two independent, yet complimentary initiatives:
- Building safe, decent and affordable homes that empower low-income families to achieve their dream of homeownership.
- Making essential home repairs and providing ADA accessibility for income-constrained South Hampton Roads senior, disabled and/or Veteran homeowners to keep them Warm, Safe and Dry in their homes.
