Dallas, Texas: Builders of Hope Community Development Corporation (BOHCDC) has announced a new investment from BBVA to assist in establishing The Hope Homeownership Center. BOHCDC’s Hope Homeownership Center will focus on increasing the homeownership rate within the city of Dallas through education and advocacy. Recent reports revealed that homeownership rates within the city of Dallas are slightly below 50% while rental rates continue to rise. BOHCDC will be seeking additional funding to fuel this city wide campaign and will use a portion of proceeds from their home sales to help build the capacity of the center.
“Dallas is a city of renters. Our current homeownership rate lags behind the national average with homeownership amongst people of color disproportionately smaller. We can change this trend by increasing the supply of housing and the number of prepared homeowners” said James Armstrong III who serves as Chief Executive of the community housing development organization.
BBVA is a longtime supporter of BOHCDC mission and continues to be a leader in supporting local grassroots organizations specifically producers of affordable housing and small business development. Their outcome focused CRA giving has produced an astounding impact in the Dallas County area with guidance from local and regional leaders like Community Relations officer Denise Mason, and Yolanda Davila, SVP of Community Relations.
"Our mission at BBVA is to bring the age of opportunity to everyone. As part of our commitment to the community, we want to help build strong and vibrant neighborhoods, improve the quality of life, and make a positive difference where we work and live" quoted J. Reymundo Ocañas Executive Vice President, Director of Communications & Responsible Business.
BUILDERS OF HOPE Community Development Corporation is a leading community development organization devoted to transforming Dallas by building strong communities and energy efficient quality affordable homes. Over the past 20 years, BOH CDC has been a leader in creating and sustaining equitable and affordable housing through single family development, community engagement, and policy. The approach we take to community development consists of three strategies – revitalization of areas that are experiencing suppressed land values due to lack of public investment; stabilization of communities undergoing gentrification marked by fast pace increase in land values; and diversification of mixed income housing in areas where affordable housing is limited or nonexistent. Through these strategies and grassroot community engagement we have produced over 500 homes, been a partner in building 4 major subdivisions, and have generated nearly $45M in wealth for families in South, East, and West Dallas.
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.