In the south end of Montclair, N.J., 14 Mission St. was once boarded up, with no front lawn—just dirt—and a front porch that was falling down. Now it is an occupied two-family home, painted light yellow with gold trimming around the door, with two gold mailboxes, a newly built wooden porch, and fresh green grass and bushes. HOMECorp, a community-based, nonprofit organization formed in 1988, gets credit for this transformation. HOMECorp has also restored 18 historic houses in Montclair’s Historic Mill District, transforming a rundown, distressed area into a comfortable, stable residential neighborhood.
HOMECorp’s purpose is to strengthen the community by assisting families who are affected by the booming housing market in Montclair. Taxes are increasing, and the price for buying a house nowadays is higher than ever. HOMECorp’s vision is to restore Montclair by providing safe, permanent, affordable homes and promoting neighborhood development.
HOMECorp provides long-term support and the resources required to achieve its objective of stabilizing neglected areas of the town, enabling Montclair’s low- and middle-income families, including struggling senior citizens, to live in safe, beautifully restored homes.
“It [affordable housing] is a crisis all over, not just in Montclair, and the situation is not getting any better,” said Beverly Riddick, executive director of HOMECorp.
Riddick started working with HOMECorp in 1993 as a board member, a volunteer position. She says the idea of HOMECorp began with D. Rosman, a real estate agent, in 1988. Rosman had concerns about the state of affordable housing for Montclair residents. She also had concern for people who were born and raised in Montclair but couldn’t remain because of the exploding cost of housing. She approached a couple of individuals who owned properties on Miller Street, and they agreed to sell to the newly formed HOMECorp under the condition that the properties always have affordable rent prices.
Built in 1880, 16 Miller St. is one of the oldest homes in Montclair that is registered as a national historic landmark. It is also one of the homes that needed substantial rebuilding because of its age. With help from HOMECorp, this house is now rebuilt, restored and in better condition than ever. HOMECorp has restored every house on Miller St. except for one boarded-up house that HOMECorp is trying to buy, according to Riddick. Hundred-year old homes received new roofs and windows, fresh coats of paint and extensive upgrades to prepare them for the decades to come. As a result, the block is now a comfortable and stable environment for homeowners and rental families. Occupants of the residences were selected from a pool of prospective first-time home buyers. HOMECorp’s mission is targeted to Montclair housing, but the individuals who occupy the housing can come from any other city.
According to Riddick, the assistance of local residents, donations of materials, support by lending institutions and Montclair volunteers have all supported HOMECorp. Some contributors are from religious institutions. Montclair Township, Montclair Rotary Foundation, and Commerce Bank and Bank of America are a few of the many foundations and businesses that have helped make HOMECorp a success.
Located on 1 Woodland Ave., HOMECorp is in an urban neighborhood of Montclair. There is a big green sign that says HOMECorp on the dark-red, three-story building. Above HOMECorp’s office are four additional apartments rented to low- and moderate-income families.
Right next to HOMECorp, on 89 Maple Ave., is a home that was renovated for a disabled person who moved in as a renter. Inside the house is a roll-in shower. The handicapped-access ramp was built and funded by the Rotary Club of Montclair in commemoration of the Rotary International Centennial in April 2004.
Constantly trying to find real estate for development opportunities is one of the many hardships HOMECorp is facing. The last property bought by HOMECorp was in January 2007, a six-unit apartment building on Glenridge Avenue in Montclair.
“Although the market is much softer now and we have more opportunities than we’ve had before, the cost of real estate, particularly in this northern section of New Jersey, is pretty prohibitive, which makes it difficult for us to find the right kind of project that works. The other challenge is funding. We get a lot of government subsidiary dollars to help write down the project costs. Those dollars are shrinking, not growing, because of budget cuts and other things happening. It’s a constant battle to find the right cocktail mix of money, property, opportunities and timing,” said Riddick.
In addition to restoring homes, HOMECorp provides counseling and support to prospective home buyers and renters. The seminars are conducted for people of all ages. HOMECorp collaborated with the Board of Education in the beginning of this year and had a free financial literacy seminar for young people on how to establish and build up good credit and how to read their paycheck to understand the taxes and reductions that come out of it. “This was very successful, and we hope to do it again,” said Riddick.
HOMECorp has also had counseling sessions for dealing with foreclosure, seminars for first-time home buyers and a first-home club for people interested in buying a condominium townhouse or a single-family home in New Jersey. The club teaches individuals how to generate savings to put down on a house.
Celebrating 20 years, HOMECorp recently held a gala with more than 200 guests. There were silent and live auctions. HOMECorp also honored all of the past presidents of the board of trustees.
HOMECorp’s future plan is to create two affordable condominium units in the south end of Montclair. One will be rehabilitated for people with disabilities. HOMECorp just attained subsidiary approval for property and is working with the township to develop two lots on New Street, where HOMECorp built four affordable condominium units.
“We continue to look for new ways to assist the Montclair community with all of its housing needs,” said Riddick.
Lanette Espy is a journalism major at Rutgers-Newark. Posted September 2008.
