ST. LOUIS – A total of $100,000 dollars is how much the Regions Foundation is giving in grants to support homeownership in the Hyde Park neighborhood.
“Affordable housing and living the American dream through homeownership is one of the core fundamental principles of the Urban League’s creation 111 years ago. and to this very day. And so part of this is not just homeownership but also helping people stay in housing,” said Michael McMillan, president, and CEO of Urban League Metropolitan St. Louis.
With down payment assistance for first-time home buyers, this newly refurbished home on 4433 Randall Place can be yours.
“This is what we have to do in every part of our community, and that’s rebuild it and re-invest in our community,” Sen. Karla May, (D) Missouri, said.
The two-bedroom, two-story home is ready for purchase.
“The focus that the foundation has is to build stronger, inclusive communities,” said Scott Hartwig, market executive for Regions Bank St. Louis.
“We all know that access to quality, affordable housing is affecting every community in the nation.”
The grant supports a community partnership between The Urban League of Metropolitan St. Louis, Inc. and Dream Builders 4 Equity.
It also gives young participants in the Dream Builders program the opportunity to work and earn money. Proceeds from home sales are reinvested in the program and the student college fund.
“We commend you for what you all have done. I watch you all every day on social media, and I see these young people learning talents and learning skills that are amazing,” McMillan said.
“And we’re looking forward to being able to transform North St. Louis one community at a time.”
Over the span of five years, Dream Builders estimates it will serve 250 youth involved with its program and support 25 families new to homeownership.
“No one, no person or no child, should have to walk down the street and see falling down infrastructure,” May said.
The home build project is expected to generate $4 million in revenue for minority contractors and $1.6 million in construction labor wages.