TWO RIVIERA BEACH FAMILIES CELEBRATE HOME WITH GROUNDBREAKING ON FRIDAY, FEB. 18
RIVIERA BEACH, FL. (Feb. 17, 2022) – Two families in the City are celebrating finally achieving the American dream of purchasing their first home with the help of a Riviera Beach program that partners with Palm Beach County, nonprofit corporations, builders and lenders to help them make smart financial decisions.
The two newest homebuyers in the Riviera Beach Homebuyers Club will help break ground at one of the houses on Feb. 18 at 10 a.m. at 1253 W. 24th Street.
The Riviera Beach Community Development Corporation (RBCDC), in conjunction with community partners operate the Riviera Beach Homebuyers Club. The program provides education, counseling, matched savings, closing cost assistance and advocacy. The partners have assisted more than 400 residents. A six-session workshop series, held quarterly, provides education and preparation for first-time homebuyers.
Participants in the series receive advice about the homebuying process and learn money management strategies. Topics cover taxes, credit, advanced money management, community engagement and volunteerism, savings and banking, obtaining a mortgage loan and qualification, looking for a home and the Fair Housing Act, as well as bus tours and open houses for new homes for sale.
“Homeownership is the largest single investment that most of us will make in our lifetimes,” said Annetta Jenkins, Executive Director of Riviera Beach CDC. “The Riviera Beach Homebuyers Club partners are so proud of these two new homebuyers and applaud their determination in reaching this milestone for their families.”
The Riviera Beach Homebuyers Club is supported by the Riviera Beach Community Redevelopment Agency, the Riviera Beach Community Development Corporation and Community Partners of South Florida (CPSL).
“We are not just building homes, we are building families and communities,” said Lynda Charles, Vice President of Housing Services at Community Partners of South Florida. “The club attendees are sharing and learning together to build a community.”
The two new homebuyers celebrating the groundbreaking for their new homes – Tabbatha Durden and Adrian Bedford – are successful graduates of the club. The
homes are valued between $275,000 to $300,000.
The two homes are being built by ASC Development Group, represented by its founder and President, Ezra Saffold. Mr. Saffold is a resident of Riviera Beach and has participated in the Riviera Beach Renaissance Program for almost a decade.
Construction financing is provided by Valley Bank with homebuyer mortgages provided by Synovus Bank.
Community Partners of South Florida first time homebuyer’s program dates over two decades. The organization has supported thousands of individuals in reaching the American dream of owning their own home over the years. The collaboration between the Riviera Beach CDC and CPSL dates back 3 years.
The Riviera Beach CDC to date has built, developed and closed about 15 new homes under the program and has 50 homes in various stages of development. Participants are working families who are qualified to access a residential mortgage on average of up to $250,000 and will maintain it for the next 30 years. They each can receive up to $100,000 in gap financing from the Palm Beach County SHIP program or up to $35,000 from the Riviera Beach CRA to help reduce the purchase price and reduce their first mortgage payment. The Club also offers other down payment assistance through a matched savings program and lender down payment programs.
The Homebuyers Club plans to continue to partner and collaborate to build homes and communities. It is strengthening families and offering opportunities for economic mobility by purchasing a home, which for many, is the most visible way to build assets.
Public Information Officer