Habitat empowers another family in Strathcona County with help from Landmark Group of Companies.
Sherwood Park, AB — A local family was thrilled to receive keys to their Habitat for Humanity home in Strathcona County. Cindy and her four children were presented with keys from Landmark Group of Companies, who donated the home as part of a pledge during Habitat Day in the Capital Region in 2011. The ceremony was a first-of-its-kind in that the house was what Habitat for Humanity calls a “buy back.” If a Habitat for Humanity partner family moves on, they sell their home back to the Habitat program. Habitat is then able to give another family a “hand up” by providing the home to them. Thus the home donated by Landmark Group is now helping a second family build a promising future.
“Habitat for Humanity is all about providing a ‘hand up’ to as many well-deserving families as we possibly can,” said Alfred Nikolai, President & CEO, Habitat for Humanity Edmonton. “The Buy Back model is a great example of how our program is sustainable and how Habitat homes can help many families even decades later.”
The family who sold their home back to Habitat for Humanity was able to use their equity to enter into a conventional mortgage and bought a home in another part of Strathcona County, opening up a home ownership opportunity for Cindy’s family.
“Our vision in Strathcona County is to become Canada’s most livable community. It’s through community partnerships, such as Habitat for Humanity, that we’re able to work together to provide safe, secure and affordable homes,” said Strathcona County Mayor Roxanne Carr. “Strathcona County is proud to be a part of a movement that transforms home ownership dreams into keys in the hands of 12 home owners, right here in this community.”
“It is rewarding to witness the success of the Habitat in the Capital Region program. The partnership between government, private and NFP organizations, along with efforts of volunteers and Habitat families has made it possible to make each Habitat unit a home for a well deserving family,” said Reza Nasseri, President & CEO, Landmark Group of Companies.” The beauty of it is that the first family who needed a ‘hand up’ received it through this program, demonstrating that with just some support, a family unit can rebuild itself in a home, and move on to better and greener future. This also makes it possible for the Habitat program to provide the same support yet to another family, bringing their hopes of having a place as their own home to reality. We are delighted to witness this in a Landmark home.”
Every mortgage payment made by Cindy will be equity. The mortgage provided by Habitat for Humanity is interest-free and payments will never exceed 25 percent of her income. This project has been a win for Cindy’s family, Landmark Group of Companies, Strathcona County and Habitat for Humanity.