David Hastings has roughly 25 years of housing industry experience and told LINK nky the current state of affordability within the market is the worst he has seen.
But the Housing Opportunities of Northern Kentucky executive director said he remains passionate about the nonprofit organization’s goal of helping those seeking homeownership to be able to afford it.
“We are truly void of affordable housing options in Northern Kentucky, so it’s good to know there are places here attempting to bridge that gap,” Florence resident Surrey Montgomery said. “The need is great, so it’s going to take all types of approaches to make an impact.”
The idea is to help people who may struggle to achieve homeownership on their own to participate in a lease-to-own program, Hastings said while standing in the front yard of one of the organization’s properties.
“The goal is within 12 to 18 months, the family is in a place where they can realize homeownership,” he said.
Banks embrace the organization because it produces knowledgeable, aware homeowners primed to succeed long-term, Hastings said.
Program participants are often transitioning to homeownership from apartment living, so the organization provides a housing counselor to ensure buyers are fully prepared for the process, Hastings said.
“The counselor works with them on getting ready,” Hastings said. “Most of the folks we serve are first-time homeowners and quite a few are not just first-time homeowners, but the first generation in their family to own a home.”
Hastings said the topics they cover include everything from credit preparedness to household budgeting to walking through the loan process, household maintenance and more.
Serving Campbell, Kenton and Boone counties, Housing Opportunities of Northern Kentucky has been in existence for just over 30 years and Hastings said the organization works to help both the family seeking a home — and the community.
One of the organization’s available homes at 437 Spring St. in Elsmere was once a one-room schoolhouse that served as one of the first schools in the area to formally educate Black children after the end of slavery, Hastings said.
“So, late 1800s, this was called the Dunbar School – started by African-American leaders in the area,” Hastings said. “It eventually became part of the Erlanger-Elsmere School District and up until 1948, give or take, is when the school moved just a few blocks away.”
Helping five families achieve homeownership annually is the Housing Opportunities of Northern Kentucky’s goal, Hastings said.
Housing Opportunities of Northern Kentucky is looking for people that want to own a home but have encountered struggles to make it a reality, Hastings noted.
“It’s less risk for the family, more affordable – both monthly payments and the ultimate sales price,” Hastings said. “Our goal is to get an owner and not make money. I wish we could do more.”