Lakeway Area Habitat awarded HOME grant from THDA

Lakeway Area Habitat awarded HOME grant from THDA

Posted on May 12, 2023

Lakeway Area Habitat awarded HOME grant from THDA

May 10, 2023 – Tennessee Housing Development Agency awarded a $738,980 grant to Lakeway Area Habitat for Humanity that will be used to construct new housing in Hamblen County.

Lakeway Habitat was one of four Community Housing Development Organizations (CHDOs) statewide that received a portion of the $3.3 million in HOME CHDO funding that was recently approved by the THDA Board of Directors.

“This grant will allow Lakeway Area Habitat to build housing that is both affordable and safe for homeowners of moderate means,” THDA Executive Director Ralph M. Perrey said. “Affordable housing is needed now more than ever in East Tennessee, and these homes will help those who need it most.”

Lakeway Habitat plans to use the funds to construct four single-family homes located in Hamblen County. Construction on the first two homes is expected to begin later this year.

“We are grateful to have this opportunity and it’s going to be a game changer for us and our ability to build more homes for our community,” Lakeway Area Habitat for Humanity Executive Director Stephanie Wesson said. “We’re a small affiliate and we’ve been building one house a year for the last few years, so it’s going to allow us at a minimum to double the amount of homes we’re building.”

Once construction is completed, Wesson said the homes will be sold by Lakeway Habitat to families or individuals who have successfully applied for the Habitat program. Proceeds from those sales will be used to fund the construction of four additional homes in the Lakeway Habitat service area, which encompasses Hamblen and Grainger counties.

Wesson said the homebuyers, as well as local volunteer groups, will help construct the homes.

The HOME Program is funded by the U.S. Department of Housing and Urban Development. HOME funds are allocated by THDA through a competitive application process to smaller cities, counties and non-profit organizations. Urban areas and local participating jurisdictions receive their funding directly from the federal government.

HOME grants must be used for the production, preservation, or rehabilitation of affordable housing for low and very low income families and individuals.