First Story, Hayden Homes and community partners will “raise the wall” on a new home in the First Place community at 11:30 a.m. sharp on May 1.
The Wall Raising event celebrates First Story’s innovative partnerships and a key moment for the Elder family, who experienced homelessness just seven years ago. The family will be joined at the event by team members from Hayden Homes and community members who recognize the value of affordable homeownership.
“Too many families in Bend are struggling to access affordable housing, and we are grateful to First Story for being a part of the solution,” said Bend City Councilor Mike Riley, who will speak at the event. “Affordable homeownership truly changes the trajectories of lives and helps families achieve success for the long run.”
For Laura Elder, achieving homeownership marks the culmination of years of hard work. She has overcome addiction, pursued an education, and saved while building a career. With this First Story home, her dream of homeownership is finally becoming a reality and providing hope at an especially critical time, following the recent loss of her daughters’ father.
“I made this goal when I got into recovery, that I wanted to own a home. I wanted to give my children a place that they could come back to, even when they were grown. They would never have to struggle. They would never have to experience homelessness,” Elder said. “Every day, I did something in my life to make that dream come true.”
First Story’s unique model enables families like the Elders to achieve homeownership through a unique zero-down, zero-interest, 30-year mortgage on new, move-in-ready Hayden Homes. First Story’s homes are built with the same quality, care and aesthetics as every other Hayden Home. Homes are sold with all appliances, a washer and dryer and finished landscaping so that they’re ready for families from day one.
First Story’s affordable home loan program is supported by a partnership with its founder, Hayden Homes, plus in-kind donations of labor and building materials and the financial support of a robust network of donors.
With support from the many partners involved, construction on the Elder family’s home will kick off at the Wall Raising and be completed by mid-August, when a home dedication and key ceremony will occur.
“Laura’s story is deeply personal and inspiring,” said Duncan, executive director of First Story. “Affordable homeownership should not be out of reach for our neighbors. This Wall Raising is the perfect moment to celebrate the opportunities we can create when we come together in partnership to solve the housing crisis.”
To date, First Story has helped 123 families become homeowners. Of those families:
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100% earn less than 80% of area median income
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100% are first-time homebuyers
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80% are the first in their families ever to own a home
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23% identify as minority households
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25% are families with members with disabilities
To learn more, visit www.firststory.org and follow the journey of new homeowners on First Story’s Instagram and Facebook pages.
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About First Story
First Story is a 501(c)(3) nonprofit on a mission to address the affordable housing crisis in the Northwest. First Story uses an integrated approach to affordable housing by giving individuals a hand up to homeownership while encouraging inclusivity.
First Story collaborates with builder Hayden Homes and in-kind partners to construct or fully refurbish homes. The homes are then sold to individuals and families earning 80 percent of area median income or below through First Story’s innovative loan program, which provides loans at zero-down, zero-percent interest for 30 years.
