What is GROWTH?
GROWTH is an initiative of the NCRC, designed to create pathways to homeownership for low- and moderate-income (LMI) families and improved property values for LMI communities. The initiative purchases, renovates and sells homes in LMI neighborhoods or to LMI families through its impact investment-driven fund known as the NCRC Housing Rehab Fund. The program also offers lease-to-own opportunities to those families who can sustain mortgage payments but may not qualify for conventional financing immediately.
GROWTH is designed to achieve three main objectives:
- Build an inventory of affordable, secure homeownership options for LMI families through targeted investment in their communities.
- Provide housing and financial capability counseling to qualified homebuyers.
- Create construction jobs and workforce apprenticeship opportunities in those communities, as well as provide workforce readiness training.