In partnership with Twin Cities Habitat for Humanity and Homes Within Reach, the City of Golden Valley marked a significant milestone June 24, 2024 with the completion and grand opening of its first Home Ownership Opportunity for Equity (HOPE) program house at 6300 Olympia St. The City initiated the HOPE program in 2022 in response to the need for affordable housing in the community.
The HOPE program makes City-owned vacant properties available for development by local affordable housing partners. The goal of the program is to expand opportunities for affordable and equitable home ownership in the Golden Valley, with a specific focus on reducing racial disparities in homeownership, creating wealth-building opportunities, and providing long-term affordability.
Through the HOPE program, the City provides a land write-down as an incentive for development of homes affordable at less than 115 percent of the Area Median Income (AMI), with a priority for affordability at 80 percent or 60 percent of AMI. Priority is given to proposals for development from organizations with demonstrated success in building relationships of trust with Black, Indigenous, and people of color and in serving first-generation home buyers.
For more information about the HOPE program and upcoming housing initiatives, visit the HOPE web page.
Pictured from left to right, Cathy Lawrence (Chief of Staff at Twin Cities Habitat for Humanity), Golden Valley Mayor Roslyn Harmon, and Brenda Lano-Wolke (Executive Director of Homes Within Reach)