Amid California Housing Crisis, HPP Cares Offers $40,000 Grants for Residential Construction
Added: (Sat Nov 05 2022)
Pressbox (Press Release) -
FOR IMMEDIATE RELEASE
Amid California Housing Crisis, HPP Cares Offers $40,000 Grants for Residential Construction
HPP Cares has already given away more than $5 million in ADU grants
LONG BEACH, CALIFORNIA, OCTOBER 28, 2022 - As California’s housing crisis continues to grow, HPP Cares has announced the opening of a new portal where $40,000 grants for the construction of ADUs (accessory dwelling units) can be applied for. This portal will be open until November 18, 2022.
Current statistics paint a grim picture for California’s housing situation. The California housing shortage is estimated at nearly one million units. Renters pay 44% above the national median, while the median household income is only 22% higher than the national average. One of the solutions to this housing crisis rests in ADUs, but there is one major obstacle: funding.
HPP Cares was founded by Katherine Peoples with a mission of providing consumer credit, debt, and housing counseling. Peoples has used her experience in business law, communication, advocacy, and real estate, to successfully assist consumers across the state while building a team of like-minded professionals at HPP Cares.
Today, the HUD-approved non-profit offers a wealth of consumer assistance including budget counseling, housing counseling, and debt management strategies. Now, the organization has announced a partnership with CalHFA in which grants are offered to help construct ADUs.
The grants are $40,000 and give recipients the ability to either use all the cash for construction or couple the grant money with other funding, such as loans, to build an ADU. For example, the county limits for CalHFA mortgages are at $235,000 in Orange County, $173,000 in Riverside, and $282,000 in Alameda, demonstrating a need for funding to fill the gap between actual costs and mortgage amounts available.
This exclusive opportunity is opening the door for new housing units in California by reimbursing pre-development costs commonly associated with the construction of ADUs.
This comes at a time when the state’s housing sector is suffering greatly, as is noted by low RHNA (Regional Housing Needs Allocation) numbers in counties across California.
The team at HPP Cares is thrilled to be part of a viable solution to the housing crisis and has received support from elected officials from around the state, including Senator Skinner. The ADU grant program from HPP Cares has already proven beneficial and has given away $5 million in grants. The portal has just officially opened. Applicants can now visit the HPP Cares and complete their applications for the $40,000 grant funding.
“The HPP Cares team is beyond thrilled to bring this amazing opportunity to people across California. The portal is now open, and we encourage anyone interested in ADU construction to go ahead and apply,” said Peoples.
More information can be found at https://www.hppcares.org/.
ABOUT HPP CARES
HPP Cares is a California non-profit certified HUD approved consumer credit, debt, and housing counseling agency that provides personal assistance via budget counseling, housing counseling, and debt management strategies.
CONTACT
Shawna Charles
Charles Communication Group
Phone: 310.689.4310
E-mail: publicity@charlescg.com
Facebook: @HPPCARESCDE
Instagram: @hppcares
LinkedIn: @hpp-cares
Website: https://www.hppcares.org/
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