Richmond Community Foundation Celebrates First Successes

Block party for potential buyers and neighbors highlights transformation of blighted homes

RICHMOND, Calif.--()--Richmond Community Foundation (RCF), Mechanics Bank, civic leaders and neighbors will celebrate successes achieved by an innovative housing rehabilitation program funded by social impact bond (SIB) sales, with an unveiling of the now-completed first home acquired under the program.

“The next step is finding a lucky first time homebuyer for it.”

Using funds from special bonds issued by the City of Richmond and purchased by Mechanics Bank, RCF will acquire, rehabilitate and sell what were blighted homes throughout the city of Richmond. 623 17th Street is one of two homes the nonprofit has transformed since the program was launched earlier this year. Formerly abandoned, City code enforcement officers frequently shooed away squatters from the 97-year-old house. Now, it has new windows, carpets, hardwood and travertine floors, an all-new kitchen and fresh appliances and lights. The exterior has been updated with new porches, garage door, building finishes and landscaping, while keeping the charm of the original structure.

“It’s really a beautiful home,” says Jim Becker, President and CEO of RCF. “The next step is finding a lucky first time homebuyer for it.”

A highlight of the event is a lottery to choose which of the potential homebuyers who graduated from SparkPoint Contra Costa’s First Time Homebuyers Program will get the first chance at the home.

Please join us for food and refreshments, a tour of the newly refurbished home and a chance to meet the partners who are making Richmond better, one house at a time!

When: Thursday, August 18th, 3-5 pm
Where: 623 17th Street, Richmond, California
What: Neighborhood Open House Celebrating First Home Rehabilitations
Who: Project partners, civic and community leaders and local neighbors

Please RSVP to Hatti Hamlin, 925.872.4328, hattihamlin@comcast.net

Contacts

For Mechanics Bank
Hatti Hamlin, 925-872-4328
hattihamlin@comcast.net

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Release Summary

The Richmond Community Foundation is celebrating completion of its 2nd home renovation funded through social impact bonds, with an event and open house on August 18th. Everyone's invited!

Mechanics Bank