The boards of directors of Habitat for Humanity Charlotte and Our Towns Habitat for Humanity announced plans to combine the two affiliates to serve more low-income, working families with decent housing they can afford.
The new service area will encompass communities from Pineville to Statesville.
After consolidation, the affiliate will become the third largest new home builder in Habitat for Humanity’s network of more than 1,000 affiliates.
By combining resources and looking for ways to operate more efficiently, the combined affiliate expects to save approximately $6 million over the next decade, which can be used to fund more affordable housing and critical repairs.
The merger will be effective Feb. 28.
The new organization combines the strengths and resources of both affiliates, with:
» Assets of $55 million;
» Revenues of $30 million annually;
» Nearly 1,100 mortgages;
» Seven Habitat ReStores;
» More than 10,000 volunteers per year, contributing nearly 146,000 hours of service;
» More than 175 employees.
“We experience the challenge of affordable housing in the greater Charlotte area every day as we work with people struggling to afford safe, stable housing for their families,” said Habitat Charlotte CEO Laura Belcher.
“By bringing together two strong Habitat affiliates as one organization with a common mission, we will be able to make a real impact in our community for generations of residents — built upon a foundation of stable housing with a mortgage they can afford.”
Habitat Charlotte and Our Towns Habitat have long track records of helping local families obtain decent housing they can afford for 36 and 31 years, respectively.
Since its founding, Habitat Charlotte has served more than 2,000 families, and Our Towns Habitat has served nearly 700 families with new homes, critical home repairs and financial education.
“While we see a community of plenty in the greater Lake Norman area, many of our neighbors cannot afford to live in the towns in which they work, and the challenge of affordable land upon which to build is real,” Our Towns Habitat CEO Chris Ahearn said.
“The ability to combine resources and two talented staffs creates one strong affiliate, with the potential to serve more families together than either of us could serve on our own.”
The new affiliate will operate under a new name, which will represent its expanded service area.
The name is expected to be announced as of the Feb. 28 merger date.