X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The National Association of Realtors has established a new $5.23-million grant program under its larger umbrella of programs to facilitate affordable or workforce housing. Called the Ira Gribin Workforce Housing Grants, the funds will be dispersed in amounts up to $50,000 to state or territorial Realtor associations.

The grants–whose criteria have been loosely defined deliberately–are expected to act as seed money to launch even larger initiatives in a particular locality, Lora McCray, manager of NAR’s Housing Opportunity Program, tells GlobeSt.com. “We wanted to fund programs that would have a greater impact in a particular area,” she says.

NAR did not want to prescribe how the grants would be used; conceivably a grant could fund a study for the appropriate model for affordable housing in a particular city or area, or be used to support multifamily development, or to establish an affordable housing down payment fund or a land trust.

The housing grant program is part of a steady progression of NAR initiatives in this area, McCray adds. Since 2003, through various programs and summits, the organization has been helping brokers create more affordable housing opportunities. The program was named in honor of Ira Gribin, a former NAR president and affordable housing advocate.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.