Bank Atlantic funds Broward Housing Solutions

Broward Housing Solutions provides homeownership to formerly homeless mental health consumers through its Homeownership Solutions program. Thanks to the support of BankAtlantic’s H2H Homebuyers’ Club, nonprofit agencies like Broward Housing Solutions have been afforded the opportunity to offer this successful program to their client tenants.        

As passionate supporters of breaking the cycle of homelessness, the management team of BankAtlantic have had a longtime relationship with Broward Housing Solutions. Together they have created a program to offer “long-term sustainable housing, which to us was homeownership.”

“It was a natural sequence to partner in a solid way,” says Marcia Barry-Smith, Executive Director of the BankAtlantic Foundation. “This program is crucial. In spite of the real estate industry turmoil and all that has happened in the last few years, affordable homeownership is still a vital tool in avoiding recidivism in those who were formerly homeless. Life has kicked them to the curb.  But once they own a home, they are empowered. They are in their space of America that belongs to them.”

“The sense of pride of ownership contributes to the community in which they live,” she added. “When you own your home, the extra pride and your interest in what happens in your community increases exponentially.”

To date, Broward Housing Solutions has played a pivotal role in facilitating homeownership for many of the more than 60 consumers, the majority of whom were formerly homeless. This translates into $6.6 million worth of property in Broward County with $3.9 million provided in loans through BankAtlantic’s H2H program and 2.7 million provided through subsidies. Much of the subsidy funds originated with Broward Housing Solutions.

“We’re so grateful for all the support BankAtlantic and Marcia’s team has offered to us,” said Lisa Vecchi, CEO of Broward Housing Solutions. “They’ve helped us provide homeownership to mental health consumers who had very little hope of ever owning their own home. This partnership has been more than effective, it’s been profound.”

Barry-Smith agrees.

“We can’t say enough about our partners at Broward Housing Solutions,” she said. “They are sterling and wonderful.”

About the BankAtlantic H2H Homebuyers’ Club

The H2H Homebuyers’ Club was launched in 2004. Since then this award-winning, nationally recognized club has grown from 10 pioneering members to an excess of 300+ members. 62 members have closed on their homes year-to-date with mortgages totaling $4,013,790.

This unique program brings formerly homeless, challenged, self-doubting individuals together with a single objective in mind, that is, to reach the goal of owning a home. The H2H staff assists the members by changing old habits, re-learning behavior in handling their credit, budgeting and saving, re-education in financial matters and wealth development. Through this program, the staff foresees the success of many formerly homeless clients in attaining and maintaining the American Dream of Homeownership. For further information, locations, or to speak with a housing specialist, call 800-330-3711.

About Broward Housing Solutions

Broward Housing Solutions, a certified housing development organization (CHDO), provides permanent supportive rental housing to mental health consumers at a cost of only 30 percent of the consumer’s monthly income through its Rental Housing Program, assists with rent payments through its Rental Subsidy Program, provides housing to young adults and aged-out foster adults through its Housing Solutions for Young Adults program, and helps consumers become homeowners through its Homeownership Solutions program. For more information, call 954-764-2800.