“If it weren’t for BNT, I wouldn’t be here right now” – Ubaldo Diaz, U.S. Army Veteran & BNT Tenant, Channel 12 News, November 8, 2020
Founded in 1986, Building Neighborhoods Together’s (BNT) mission is to end housing insecurity, income inequality and homelessness by creating safe, affordable housing, and providing comprehensive housing and financial counseling services to low- and moderate-income families across Connecticut.
REAL ESTATE DEVELOPMENT & MANAGEMENT
BNT has invested $25 million in Bridgeport over the past 5 years. It owns and manages over 230 units of safe, clean, and affordable housing. We house 425 tenants in 26 buildings, 95% of whom are racial minorities and over 1/3rd of whom were previously homeless, or at risk of homelessness. Our tenants include young mothers, seniors, veterans, and foster youth. Our average family income is $18,000. Only about 40% of our tenants are on supportive housing.
Property Management Stats
- Provide housing to over 425 individuals and families
- Manage a portfolio of $41 million in properties
- 2/3rds of our 230 units are in 4 new buildings
Real Estate Development Achievements
- Completed the development of 89 units in Bridgeport since 2015 (a $25 million investment)
- Manage the construction of 3 buildings (44 units; a $9 million investment) to be completed in 2021 starting February 2021
- Manage a development pipeline of 16 units (a $5 million investment)
- We are expanding our development work to areas outside of Bridgeport in Fairfield County
HOUSING COUNSELING SERVICES – Empowerment Resource Academy (ERA) (Currently conducted virtually only)
BNT is one of one of the most active HUD housing agencies in CT. Since 2000, its Empowerment Resource Academy (ERA) has served over 12,000 clients, resulting in approximately 4,400 families achieving homeownership for the first time. Our services include classes and counseling for homeownership pre-purchase, financial management and planning, eviction and foreclosure prevention, credit repair, budgeting, benefits access, fair housing and housing discrimination. All of our classes and counseling services are free. Due to COVID-19, our services are currently being conducted virtually only.
2020 ERA Service Projections
- Served 3,330 clients in both English and Spanish
- Helped 781 families obtain up to $4,000 in COVID related CARES Act rental assistance
- Provided 1-on-1 counseling to 640 clients on first time homeownership
- Helped 320 obtain homeownership (generating $56 million in mortgage loans with local area banks)
- Helped 220 families avoid eviction
- Helped 36 families avoid foreclosure
We had a very productive 2020, yet there’s so much more to be done in 2021.