Summer 2024
Celebrating Homeownership Month
June was Homeownership Month, and SCDHC took the opportunity to celebrate with a series of exciting events across Richmond, Petersburg, and Emporia. These events not only celebrated the advantages of homeownership but also underscored SCDHC's unwavering commitment to community development through innovative housing solutions.
The festivities began on June 19th with a groundbreaking ceremony at 712 High Street in Petersburg. This momentous occasion marked the launch of a new 12-unit apartment building, symbolizing our dedication to creating more affordable housing options. The development aims to revitalize the historic downtown area, offering quality living spaces that enhance the community fabric.
On June 24th, the spotlight shifted to Emporia, where stakeholders and community members gathered to explore our latest initiatives. The tour of four newly constructed modular homes and our newly opened office on Baker Street demonstrated our commitment to innovative, high-quality housing. The event highlighted our proactive efforts to address housing needs with modern, affordable options that cater to diverse community requirements.
The month’s celebrations culminated on June 25th with an open house at our Richmond office. This lively event brought together legislators, community partners, and local supporters for a day of networking and discovery. Attendees engaged in in-depth discussions about SCDHC's wide-ranging programs and services, sparking ideas for future collaborations and reinforcing our shared commitment to community development.
While Homeownership Month has concluded, our dedication to advancing community development and increasing affordable housing remains steadfast. We extend our heartfelt gratitude to our stakeholders, partners, and community members for their unwavering support and enthusiasm. Together, we are forging a path toward a brighter future with more opportunities for homeownership and sustainable community growth.
Trailblazers in Housing: A Juneteenth Celebration
On June 13th, Fulton Bank and Fahrenheit Advisors hosted a powerful celebration for Juneteenth, shining a light on the extraordinary contributions of Black female leaders in the housing sector. This special event, dedicated to "Women Who Make a Difference in Housing," was a tribute to the resilience, leadership, and impact of three remarkable women, including our own Dianna Bowser, President & CEO.
Juneteenth, commemorating the emancipation of enslaved African Americans, is a day that symbolizes freedom, resilience, and the ongoing fight for equality. This celebration was a fitting occasion to honor Black women whose leadership is transforming affordable housing in Richmond.
Dianna Bowser’s passion and dedication have driven SCDHC’s mission to provide affordable housing and foster community development. Her leadership has transformed countless lives, offering stability and hope to families throughout Richmond.
Joining Dianna in this esteemed recognition were Tammy Neale, CEO of Virginia Housing, and Madelyn Peay, CEO of Richmond Metropolitan Habitat for Humanity. These women have tirelessly championed the cause of affordable housing, each making unique and impactful contributions to the community.
The celebration was a powerful acknowledgment of the crucial role Black women play in the fight for housing equity. Their leadership and vision are vital in addressing housing disparities and fostering inclusive communities.
Congratulations to Dianna, Tammy, and Madelyn for their outstanding achievements and dedication. We are grateful for the meaningful difference they make in our community every day.
From Public Housing to Homeownership
There’s a certain kind of magic in watching dreams transform into reality, especially when the journey is marked by resilience, dedication, and unwavering encouragement. Such is the story of Ms. A, a beacon of determination and a testament to the transformative power of perseverance and community support.
For five years, Ms. A navigated the challenges of public housing, all while nurturing a dream of owning her own home. The path wasn’t easy, but she was determined. Her journey led her to SCDHC’s Financial Opportunity Center® Program, where she found the guidance to make her dream a reality.
Through personalized financial coaching, Ms. A meticulously worked on her credit score, achieving an impressive 56-point increase. With her improved financial standing, Ms. A secured a better job, significantly boosting her income and paving the way for mortgage eligibility.
The next steps in her journey were navigated with the expert guidance of our HUD-Certified Housing Counselors. They provided essential support through the prepurchase process, connecting Ms. A with vital grants and down payment assistance programs. Her story is particularly inspiring as she is a first-generation homeowner, a milestone that unlocked additional benefits through our First Dream Home interest rate reduction program. This allowed her to secure an enviable fixed interest rate of 3.5% and receive $20,000 in down payment assistance for her new home in Henrico County.
This month marked the pinnacle of Ms. A’s story: the closing on her very first home, a charming 3-bedroom townhome. Remarkably, her monthly mortgage payment is now just $888—less than what she previously paid in rent for public housing.
Her journey is a clear reminder that no dream is too distant. SCDHC is deeply committed to helping more individuals like Ms. A turn their dreams into reality. Her success is a sign of hope and inspiration, encouraging others to pursue their own paths to homeownership with the same vigor and determination. Here’s to Ms. A and to all the new beginnings and boundless opportunities that lie ahead. May her new home be a haven of joy, security, and cherished memories for years to come.
712 High Street Groundbreaking
June 19th was a day of celebration and hope as SCDHC broke ground on our new 12-unit apartment building at 712 High Street in Petersburg. This event, co-hosted with the Virginia Department of Housing and Community Development ( DHCD), marked the beginning of an exciting new chapter for affordable housing in Historic Downtown Petersburg.
These new one-bedroom, one-bathroom units are set to transform a vacant lot into vibrant, affordable homes for individuals earning less than 60% of the area median income ( AMI).
Our new building at 712 High Street will enhance the neighborhood by joining an adjacent, already-completed apartment complex. Together, they will create a seamless, supportive environment for residents. From our office at 714 High Street, SCDHC will offer on-site housing counseling and financial services, ensuring residents have access to the resources they need to achieve financial security and work toward homeownership.
The realization of this project has been made possible through the collaboration of several key partners, including Lotus Impact Bank, the City of Petersburg, HUD, and the Crater Planning District Commission. Their support underscores the power of community and cooperation in addressing housing needs.
What sets this project apart is its potential to change lives. By providing safe, affordable housing, we are laying the foundation for residents to build better futures. The 712 High Street development is not just about creating apartments; it's about creating opportunities
As we celebrate this groundbreaking, we are filled with optimism for what lies ahead. The new units at 712 High Street symbolize progress and hope for the Petersburg community. We are excited to watch this project take shape and look forward to welcoming residents to their new homes.
This event is the start of something bigger - a commitment to fostering community growth and supporting individuals on their path to stability and success.
Jim’s Handy Home Hints
Have you ever had a perfectly good appliance break down out of the blue? That’s exactly what happened to us, and boy, did our home warranty save the day.
I know I’ve talked about home warranties in this space before, but let me share a recent experience that underscores their importance. Our 3- year- old GE dishwasher, which I still consider “ new,” decided to stop working. Frustrating, right? Thankfully, I ' m still begrudgingly paying that monthly invoice for our home warranty coverage, which I usually hate seeing every month. Here’ s how this warranty came to the rescue.
When something breaks down, you file a claim with the warranty company. They assign a service provider or repairman to assess the problem and carry out the necessary repairs. If the item can’ t be repaired, they’ll replace it. However, be aware they prorate the replacement based on the age of the item, which can be a bit of a downer.
Remember, the cost of a home warranty varies by company, plan coverage, and location. Both new homeowners and seasoned homeowners should consider a home warranty, especially if saving money for future repairs isn’t feasible or if your appliances and systems are eligible for coverage.
A warranty provides a financial buffer in case a big- ticket item malfunctions. Believe me, as much as I complain about that monthly payment, I’m ultimately glad I pay it. It saved me from the headache and expense of replacing a major appliance. So, if you haven’ t yet, give home warranties a thought—they might just save your day when you least expect it.
SCDHC Earns CORES Certification
We are thrilled to announce that SCDHC is now a CORES Certified Organization! This certification highlights our commitment to providing exceptional resident services within affordable rental housing.
CORES, Certified Organization for Resident Engagement & Services, recognizes our dedication and expertise in integrating high-quality housing with essential services that enhance residents' well-being and independence.
At SCDHC, we believe affordable housing is the cornerstone of health and prosperity. Our comprehensive services empower residents and foster strong, equitable communities.
This certification reflects the hard work of our team - We are proud of this achievement and excited to continue supporting our community!
Gratitude Corner
We are extremely grateful to the organizations and foundations who support SCDHC through grants and charitable donations! Our work would not be possible without these supporters:
Fannie Mae
Virginia Housing
Amandla Fund for Economic & Racial Justice
LISC Virginia
Fulton Bank and the Fulton Forward Foundation
Richmond Memorial Health Foundation
Bon Secours Community Benefits Investments
Community Foundation for a Greater Richmond
Wells Fargo
United Way of Greater Richmond & Petersburg
Capital One Impact Initiative
George Mason Mortgage
Truist Bank
First Citizens Bank
JP Morgan Chase
The Weyerhaeuser Giving Fund
Chesapeake Bank
Thank you for helping us make an impact in our communities!