Hope Community Inc

Community development and asset buildinghope's development vision calls for investing in the people, places, and assets already in the community and creating new opportunities that support existing residents to thrive without the risk of displacement. As of 2024, hope owns and manages a robust portfolio that includes 237 high-quality rental units, 12 affordable homeownership units, hope's offices, a community center, community gardens, and spaces for small community businesses. In 2024, hope has provided stable housing to approximately 800 residents where people can gather, play, learn, and lead. Seventy percent (70%) of the rental units are affordable to very low-income households earning between 30% and 50% of the area median income (ami).hope's properties are managed by two professional property management companies. As a property owner committed to its buildings for the long-term, hope is responsible for the traditional duties of a real estate asset manager financial oversight, selection of a property manager, compliance with regulatory agreements, capital improvement planning, etc. In 2020, hope launched a strategy to support community members to become owner-occupant landlords of small multi-family buildings (duplexes and triplexes) as an opportunity to expand neighborhood affordable housing ownership. These properties are often overlooked even though they make up a significant part of the housing stock in neighborhoods like phillips and offer an opportunity to preserve large family units. As of 2024, hope has conducted 9 cohorts and 12 out of 74 graduates have purchased single family homes or duplexes. Hope will offer another two training cohorts in 2025 and continue to provide one-on-one support to graduates.

Housing and asset management- stable, healthy and affordable housing in a supportive community environment is an effective way for individuals and families to meet the challenges of poverty and isolation in an urban environment. Hope's relationships with residents are rooted in respect and mutual accountability. Hope's properties are managed by two professional property management companies. As a property owner committed to its buildings for the long-term, hope is responsible for the traditioanl duties of a real estate asset manager- financial oversight, selection of a property manager, compliance with regulatory agreements, capital improvement planning, etc. However, jope's approach to asset management involves a much broader understanding of how to maintain its real estate as a long-term asset. Key to that understanding is relationship-maintaining relationships with residents, funders, government partners, neighbors, community members, and many others. Hope is involved with groups such as the local business association and neighborhood association. Considerable effort is spent to connect the distinct functions of hope's community engagement and property management work.