A program was launched Wednesday intended to give some teachers in the San Diego Unified and Poway Unified school districts a chance to become homeowners.
San Diego City Councilwoman Marni von Wilpert announced H.O.P.E.: Housing Opportunities for Public Educators at a news conference Wednesday.
The grant program is backed by $1 million and is intended for teachers working in von Wilpert’s District 5, which includes Scripps Ranch, Miramar, Torrey Highlands, Rancho Penasquitos, Rancho Bernardo and San Pasqual.
“Our teachers are an essential part of our communities,” von Wilpert said. “But for too long, many of them have struggled to afford homes in the communities where they teach.”
San Diego, known for its robust home prices – the median home price in January hovered around $950,000 – has become too expensive for many workers.
The program, in partnership with Local Initiatives Support Corporation San Diego, known as LISC, and the Urban League of San Diego County, will grant a minimum of $40,000 during escrow for a down payment for teachers and families.
H.O.P.E. is also intended to provide guidance through the home buying process.
“Housing stability is essential for the educators who shape the future of our children, and the H.O.P.E. program is a transformative step toward making homeownership a reality for San Diego’s teachers,” said Al Abdallah, president and CEO of the local Urban League.
According to the groups running the program, the funding does not come from tax dollars, but instead from nonprofits and donors. Once the mortgage approval comes through, a realtor will assist applicants in finding a home in San Diego County that “aligns with their budget and needs,” according to a statement from the groups.
Sabrina Bazzo, a member of San Diego Unified’s board, said the program was in alignment with the district’s attempt to increase housing for employees.
“Housing stability for our educators is critical to the overall success and stability of every school. This program will give more of our teachers the opportunity to become homeowners,” she said. “I am eager to see how this financial assistance program will positively impact the lives of our staff and wish to see it replicated for future projects.”
