4 ways True Homes gives back in Charlotte

Key numbers: Charlotte city leadership has stated the city needs an additional 30,000 affordable housing units to meet current demands.

• According to Realtor.com, in 2024 the average median home price in the Charlotte metro area is $415k. In 2023, True Homes provided 1,328 homes under $415k, with 236 of them being under $300k.

Here's how: True Homes desires to be a company that communities want to exist by being committed to making a positive impact in the communities they serve. The True Homes Foundation has multiple initiatives to make a lasting impact on their communities, with their affordable housing initiative being a main focus due to the lack of affordable housing in the market.

Through their Doorway to Prosperity program, True Homes offers affordable home opportunities to households with an area median income of 80% - 110%. This program utilizes Down Payment Assistance, including House Charlotte, and special mortgage financing. This initiative allows more families to cross the threshold of homeownership and build generational wealth. Since 2022, True Homes has provided 50 Doorway to Prosperity homes and over 100 more are currently under development.

Through the "True Homes Foundation" initiative, True Homes works with an impact network of local nonprofits, faith communities, and community organizations to provide affordable housing solutions through local initiatives, including:

• Community Homes
• Community Hero Homes
• Pathways to Vocational Opportunities
• True Homes Foundation Scholarship

🏠 Community Homes

For every 500 homes True Homes builds, the True Homes Foundation commits to donate a home to a local community-focused organization.

The results: True Homes recently completed two oversized Community Homes featuring a total of 16 bedrooms.

• In Winston Salem, True Homes partnered with Whole Man Ministries to build a 2,800-square-foot, eight-bedroom transitional home for homeless veteran men.
• In Statesville, True Homes partnered with Calvary Church to build a 2,800-square-foot, eight-bedroom home for men struggling with substance abuse and/or homelessness.

Next steps: In 2024, True Homes plans to complete the Life House Women's Transitional Home, City Lights Ministry Women and Children Transitional Home, and Veterans Bridge Home.

🚧 Community Hero Homes

True Homes' Community Hero Homes program supports the upward mobility of local, community-serving heroes. These heroes include teachers, police officers, healthcare workers, firefighters, and social workers.

The deets: This program provides affordable homes to households in the 60% to 80% area median income (AMI) range. Each home is sold to a local community hero with a forgivable second mortgage representing 10% of the purchase price.

At the end of 2023, seven homes in the Willow Oaks neighborhood in Greensboro were under construction for local community heroes.

🔨 Pathways to Vocational Opportunities

One of True Homes' major goals is to create new pathways, education, and opportunities in the home-building industry for local community members and students from under-represented demographics.

Here are some of the ways True Homes is fostering the next generation of homebuilders.

• Entrepath. True Homes has created a structured mentoring program that supports the pathway to entrepreneurship in the homebuilding industry.
• Support at local universities and colleges. The True Homes Triad team supports the NC A&T NAHB Student Chapter by offering mentorship to support their preparation for NAHB's annual 4-year-student competition. They've also partnered with NC A&T to expand student knowledge of construction field operations by offering a course including six in-the-field lab experiences.
• Apprenticeship programs. Builders Bridge assists young adults in preparing for successful careers in the home-building industry by offering a 6 week skill development program followed by hands-on job placements and on-going support through their alumni network.

📘 True Homes Foundation Scholarship and True Homes-Wingate Scholarship

The True Homes Foundation Scholarship advances opportunities for minorities and/or women in the residential construction and land development industry.

The proof: In 2023, $100,000 in scholarships were awarded to students attending Clemson University, UNC Charlotte, Appalachian State University, East Carolina University, and NC A&T University.

Plus, plus, plus: The True Homes-Wingate Scholarship is granted to all admitted students who live in one of the 25 counties where True Homes currently builds homes. Each student receives a $1,000 scholarship each year for all four years of college.

Learn more about True Homes and the True Homes Foundation initiatives.