Interfaith Community Housing Secures $2.7 Million Grant to Preserve Affordable Housing
[Claymont, Delaware, October 12, 2023] – Yesterday, New Castle County Executive Matt Meyer presented a generous check for $2.7 million to Interfaith Community Housing of Delaware, Inc. This substantial grant will facilitate the renovation of 36 units of affordable rental properties in historic Overlook Colony, Claymont, Delaware. The funding includes $2.3 million from the American Rescue Plan Act (ARPA) and $400,000 from New Castle County's Housing Trust Fund.
Overlook Colony, with its century-spanning history, serves as a vital community for residents. However, renewal and restoration of its affordable rental units had become urgent. Tax credits on these properties expired, jeopardizing home affordability. The grant not only improves the quality of life for Overlook Colony residents but also ensures the preservation of affordable housing options in the region.
County Executive Matt Meyer underlined the urgency, stating, "We have an affordable housing crisis across our community, state, and country.”
Interfaith Community Housing of Delaware expressed heartfelt gratitude to New Castle County and all partners involved in making this transformative project a reality. Darlene Sample, Interfaith Community Housing of Delaware, Inc’s executive director, acknowledged the critical role of their funders and partners, stating, "We would not be able to do the work we do without the support of all our funders. We've been partnering with New Castle County for more than 25 years; we could not do the work we do without you." Interfaith Community Housing of Delaware, Inc. is the largest nonprofit real estate developer in Delaware that focuses on serving low- to moderate-income households through housing development, financial and homeownership counseling, asset management, and community building and engagement.
Councilman John Cartier, Senator Kyle Evans Gay, and Representative Larry Lambert joined County Executive Matt Meyer at the check-signing ceremony. Councilman John Cartier emphasized the importance of preserving affordable rental housing, noting that "Overlook Colony is now undergoing a great renewal process" and emphasizing that tax rates would soon revert to market rates without this investment.
The funding announcement coincided with the “Statewide Housing Needs Assessment” released this week by the Delaware State Housing Authority highlighting the escalating demand for affordable housing across the state. The report revealed that, to keep pace with population growth, a minimum of 250 rental units tailored for households with incomes at or below 50% of the state's average median income (AMI) must be constructed annually for the next decade, and over 4,500 affordable rental units under 80% AMI must be produced to meet the state’s urgent housing needs.
Representative Larry Lambert highlighted the significance of this moment for Overlook Colony, expressing gratitude to Interfaith Community Housing of Delaware, Inc. for their decades of support and adding, "Our neighbors right here deserve to live with dignity, and this funding is very well spent.”
“Solutions are coming from DC, but making sure the solutions for the community--that involves working with the community.” -Senator Kyle Evans Gay
Senator Kyle Evans Gay echoed the sentiment that community involvement is key to finding solutions, stating, "Solutions are coming from [Washington] DC, but making sure the solutions work for the community involves working with the community."
“Interfaith Community Housing of Delaware is New Castle County’s go-to partner in community-based neighborhood revitalization efforts. Over the last 20 years, we have worked together to build communities back to vibrancy. They develop quality housing whether it is a homeownership unit or rental unit. We are honored to work with them.” -General Manager of Community Services for New Castle County Carrie Casey
“Interfaith Community Housing of Delaware is New Castle County’s go-to partner in community-based neighborhood revitalization efforts. Over the last 20 years, we have worked together to build communities back to vibrancy. They develop quality housing whether it is a homeownership unit or rental unit. We are honored to work with them” said Carrie Casey, general manager of community services for New Castle County. Cross-sector collaboration between state and municipal governments, the private sector, and the nonprofit sector is critical to help address the shortage of affordable housing units.
This substantial investment underscores the commitment of New Castle County and Interfaith Community Housing of Delaware, Inc. to the community’s welfare. The project will not only enhance living conditions but also secure the future of affordable housing in Overlook Colony.
Following his comments, County Executive Meyer rolled up his sleeves, saying “Let’s get to work,” and joined Interfaith’s crew.
About Interfaith Community Housing of Delaware, Inc.
Interfaith Community Housing of Delaware, Inc. (ICHDE) is a nonprofit that has served low- to moderate-income households in Delaware since 1968. ICDHE’s work is focused on low- to moderate-income families and their housing, and on a larger scale, the neighborhoods and community in which they reside. In 1999 ICHDE became the first chartered NeighborWorks ® America organization in Delaware and implemented the first chartered NeighborWorks® HomeOwnership Center in 2005. For more information, please visit https://www.ichde.org/
For media inquiries, please contact:
Resource Development and Marketing Manager
Interfaith Community Housing of Delaware, Inc.
(302) 652-3991 ext. 118