United Housing celebrates 2,010th home buyer | Business

United Housing, Inc. has reached a major milestone in its history, and invites the community to participate in the organization's celebration.

After 16 years in operation, the nonprofit organization, which advocates for affordable homeownership in Memphis and West Tennessee, has helped its 2,010th client purchase a home through United Housing’s services.

Vince and Irma Henderson purchased their home after attending homebuyer education classes, obtaining a loan from United Housing and purchasing one of the many vacant properties that United Housing has worked to rehabilitate in neighborhoods across the city.

To celebrate this event, United Housing will host a reception to honor the couple and thank its partners for the successes over the past 16 years.

As part of this celebration, United Housing will release an economic impact study conducted by the University of Memphis. The study shows the major role that United Housing has played in the real estate market since its first property sale.

Numbers indicate that United Housing has had a direct impact of $78 million in local economic activity through its construction and lending programs. In addition, the organization has helped generate more than $149 million in mortgage activity by leveraging its lending programs with private sector bank mortgages as well as major additions to public finance through real estate and sales taxes at an average of $245,455 per year.

“We’re excited to share this milestone with the Memphis community. Without our great partners, our hard-working clients, and our dedicated staff, board, and funders, we wouldn’t have been able to get to this point,” said Tim Bolding, United Housing’s executive director. “I believe that the report shows that we’ve been a major contributor to the local economy, and our families show how it all works together in the end to make a better community.”

Mayor A C Wharton will attend the event to help United Housing celebrate the achievement. He will close the program portion of the event with a congratulatory presentation to the couple and to comment on the benefit that United Housing has provided to the Memphis economy.

The event is being held at the Dixon Galleries Hughes Pavilion on Wednesday, Nov. 10, from 4:30 to 6:30 pm.

Information provided by United Housing.

Photo courtesy Flickr user respres.