Mission: Revitalize distressed neighborhoods in tarrant county and throughout texas communities in need and increase the amounts of decent, affordable housing available to lower income families and individuals with special housing needs.
Programs: Acquisition/rehabilitation/resale (housing rehab): the purpose of tchp's housing rehab program is to renovate dilapidated housing stock, improve the overall viability of local neighborhoods, and create quality, affordable housing opportunities. Serving as the non-profit owner/developer, tchp acquires vacant, distressed properties within target neighborhoods to make improvements that meet and exceed local code and federal housing quality requirements. Tchp adheres to high standards in constructing the highest quality home while maintaining the lowest possible cost per square foot. Tchp renovates foreclosed properties to provide safe, quality, affordable housing for low- to moderate-income families and revitalize neighborhoods. Tchp also employs cost-effective green building alternatives in construction and installs energy star rated products. These improvements provide a benefit to the buyer through lower utility costs and long term affordability. Tchp takes pride in providing quality, affordable housing that is not discernable from market rate housing. Once tchp completes the rehabilitation, the house is returned to the market at an affordable price for lower income families and individuals with special housing needs. Where available, homebuyer assistance funds for down payment and closing costs may be provided. This program impacts local redevelopment efforts by providing the community with stabilized property values and decreased renter-occupied housing to promote the revitalization of distressed neighborhoods. Additionally, these efforts impact the broader community by decreasing neighborhood crime, generating tax revenue, creating jobs, and eliminating blight, which furthers the sustainability of older neighborhoods and deteriorating urban areas. The program also improves the quality of life, and has positive financial outcomes for low-to moderate-income families seeking to achieve homeownership. By providing the community with educated, empowered homebuyers that contribute to the economic development of the community, the likelihood of foreclosure is also diminished. To leverage the success of the program, tchp uses donations of materials, equipment, appliances and home accessories from two local home improvement retail distribution centers in the rehabilitation of affordable housing units. Additionally, to meet and exceed the hud match requirement for home funding, tchp continually engages the local community to participate in the success of affordable housing redevelopment by soliciting discounts on professional services, labor costs, fee waivers and project contributions. Through tchp's efforts, local businesses consistently donate more than 25% of the home grant funding toward successful revitalization in their community. As a hud approved affordable housing provider, tchp has been able to acquire, rehabilitate and resell hundreds of units throughout tarrant county and north texas in an effort to preserve existing housing stock.
new construction: tchp partners with local stakeholders to focus their efforts on the revitalization of some of the cities' oldest urban, inner-city neighborhoods through infill development of new single family homes. Tchp is building its fourth new construction project in tarrant county, which is located in southeast fort worth in the hillside morningside neighborhood developed in the early 1920's. The project consists of 15 new bungalow-style craftsman homes that are affordably priced, energy efficient and available to homebuyers at or below 80% of area median income who can qualify for up to $14,999 in down payment and closing cost assistant through the city of fort worth's homebuyer assistance program. To help these families and ensure long-term sustainability for the development, tchp will also provide assistance with housing education, credit counseling and financial literacy. Utilizing tchp's pioneering green building initiative, construction features installation of the structural insulated panels (sips) - a high performance building system consisting of an insulating foam core sandwiched between two oriented strand boards (osb). The result is a building system that is extremely energy efficient, and cost effective. The homes also feature high-performing hvac systems, energy star rated appliances and windows, environmentally-friendly paint, cabinetry and flooring, drought-tolerant landscaping, and water-conserving plumbing. Each home is equipped with a ted energy use monitor system that will provide data on household energy usage. Homes built under tchp's green building initiative are more cost effective to the homeowners and provide greatly reduced utility bills, putting more money in their pockets, which increase their sustainability. Additional benefits of the green building practices include increased air quality and healthier indoor atmosphere, which improves medical conditions such as asthma. The goal for tchp is to become a leader in building high performing, energy efficient affordable homes for lower income families while also strengthening the environment. The impact of this project has resulted in the decrease of vacant, blighted infill lots; an increase in homeownership opportunities for low income households, as well as an increase in the number of qualified homebuyers; education of low income residents on financial literacy and pre-purchase counseling; increased homeowner sustainability through decrease in utility costs and health ailments requiring medical attention; the stabilization of property values in challenging inner-city neighborhoods; an increase in the supply of affordable housing; and ultimately creating a positive impact on the local economic recovery and revitalization efforts as it increases property values and prevents further neighborhood decline. Green building practices saved 30% on framing labor, decreased costs for insulation, 30% savings of electrical labor; savings of 30% on waste costs due to reduction in jobsite waste utilizing pre-cut panels, energy efficient envelope required smaller hvac systems, which generated a 40% savings and better indoor air quality for homeowners. Additionally, the new homes on once empty lots created jobs - both during construction and through new consumer spending after the homes were occupied. The houses that tchp built have significantly improved the appearance and value of the neighborhood. Tchp also maximized benefit for the future residents by building green to lower long terms costs of homeownership.
affordable rental: tchp owns and professionally manages 186 multifamily units throughout tarrant county. Units are leased at affordable rents primarily to very low- and low-income households. Many tenants are single-parents, struggling to find a safe, affordable, and pleasant environment for their children. Tchp takes great pride in maintaining these properties at high quality standards. Tenants are encouraged to take advantage of free budget and credit counseling services offered at tchp to move toward an opportunity for improved credit, and eventually homeownership. Tchp also partners with local banks and other organizations to bring budget, counseling, and saving services onsite to residents. Quality, affordable rental units are in high demand as a result of tighter mortgage qualification requirements, and low vacancy rates. Tchp anticipates expanding this program by acquiring and improving additional rental properties in the future.
tchp operates under an integrated approach, maximizing resources to offer a variety of programs in an effort to meet the changing needs of low-to-moderate income families in all stages of homeownership. In addition to affordable housing development, tchp administers down payment assistance programs for first-time homebuyers and provides housing counseling and education services. The financial assistance is available to qualified low to moderate income families at or below 80% of area median income for the purchase of single family, owner occupied homes. Program funds are utilized for down payment and closing costs or principal reduction, which ensures that first time homebuyers do not become housing cost burdened (defined as having a mortgage payment that exceeds 35% of their gross monthly income). The assistance is provided in the form of a deferred, forgivable loan, which is only due if the affordability period is not met (generally 5 years). Participating households are also required to participate in homebuyer education. Tchp housing advisors provide services in english and spanish which include homebuyer outreach/orientation sessions, financial literacy classes, individual pre-purchase and foreclosure prevention counseling, homebuyer training and post-purchase workshops. Tchp clients receive a minimum of 8 hours of housing and financial education through group classes and one-on-one counseling sessions. This holistic approach increases our clients' ability to resolve credit issues, decrease debt, and increase savings, which ultimately prepares them for homeownership. By providing housing counseling and education, our objective is to build long term relationships with our clients and serve as a resource to help them build a more stable future for generations to come. These programs are the foundation of tchp's mission to increase affordable housing opportunities for hard-working north texas residents and to promote the economic growth and revitalization of neighborhoods in our community. The goal of our business is to improve the quality of life for low-to-moderate income families in an effort to help them achieve and sustain the american dream of homeownership and decrease the likelihood of foreclosure, whereby ultimately providing the community with educated, empowered homebuyers that contribute to the economic development of north texas.