Affordable Housing Resources, Inc.

Street Address:
1011 Cherry Avenue
Nashville, TN 37203


Phone: 615-251-0025
Fax: 615-256-9836
Website: www.ahrhousing.org

E.D. Latimer, CEO

Contact Name: E.D. Latimer
Phone: 615-251-0025x0
Fax: 615-256-9836
Email: elatimer@ahrhousing.org


Staff Size: Full Time: 14    Part Time: 3

Background
Affordable Housing Resources achieves its mission through its various lending, homebuyer education and housing development programs. AHR works with community stakeholders to help transform these communities into neighborhoods of choice. AHR also works with neighborhood groups to revitalize their neighborhoods through community leadership programs and community based programs. Since 1989, AHR has developed and sold over 1,300 single-family homes. The Home Company (AHR’s construction company) currently has developed lots in 12 different subdivisions in Middle Tennessee. Two of THC’s pioneering projects, Row 8.9n and Ireland 28 Townhomes, received national acclaim from HUD, AIA, NAHB, and the National Building Museum for their design and urban renewal impact. These honors include Townhome of the Year by the National Association of Home Builders, HUD’s Best in American Living -Gold Award, and the Tennessee AIA state winner for Excellence in Architecture. AHR’s HomeOwnership Center offers two programs to first time low and moderate-income homebuyers: affordable mortgages and HomeBuyer Education. The HomeOwnership Center offers five first and downpayment mortgages and several pre and post purchase homebuyer education courses, including Financial Fitness and Realizing the American Dream. Through these two programs AHR has assisted 15,000 families with the purchase of their first home. AHR partners with NWA in its Campaign for HomeOwnership and is a chartered HomeOwnership Center. In addition, NWA selected AHR to pilot two programs: the Section 8 to Homeownership Program, which has been a national leader in homebuyer production and in program implementation, and the new Manufactured Housing Initiative. NWA, the Ford Foundation, the Manufactured Housing Institute and the Kennedy School for Government recently partnered with AHR and 5 other NWO’s to explore the use of manufactured housing as a viable affordable housing product. Since joining the network AHR assets have grown from $2.3M to over $13M.

Mission
To create affordable housing and strong neighborhoods.

Total Operating Expense (9/30/2007): $2,098,583

 Lines of Business
  • Community Building and Organizing

  • Home Ownership Promotion Services

  • Lending and Loan Portfolio Management

  • Real Estate Development


    • National NeighborWorks ® Programs
  • NeighborWorks Campaign for Home Ownership
  • NeighborWorks Community Building and Organizing
  • NeighborWorks Rural Initiative

    • Accomplishments in FY 2008
  • Provided 589 families with pre- and post- purchase housing counseling.
  • Rehabilitated or repaired 0 rental or owner occupied units (1-4 units).
  • Assisted 194 families in purchasing a home through homeownership counseling, downpayment, closing cost or financing assistance.
  • Owned or managed 0 rental units.
  • Invested $549,695 in the community through Affordable Housing Resources, Inc.'s revolving loan fund, which leveraged $23,221,790 from conventional lenders and other sources.
  • Total direct investment in the community is $23,771,485.

    • Additional Accomplishments
    Date Additional Accomplishment
    6/21/2006 The Governor's Environmental Stewardship Award in the Green Building Category

    Community Services
  • Community Building

  •  Community Outreach and Organizing

  •  Leadership Training

  •  Neighborhood Festivals

  • Family Health Programs

  •  Afterschool/Tutoring Programs

  • Financial Planning and Assistance

  •  Down-payment Assistance

  •  Financial Education

  •  Foreclosure Prevention Training

  •  Tandem Lending

  • Green Building and Home Improvement

  •  Environmental Friendly Building Materials

  •  Indoor Environment Quality

  •  Renewable Energy Resources

  •  Sustainable Site Planning

  •  Water Quality and Conservation

  • Housing Programs and Home Ownership Counseling

  •  Home Ownership Center

  •  Home Ownership Counseling


    • Board of Directors
    NameBoard Role/TitleSectorCompany/OrganizationJob Title
    Brannon AtkinsonBoard MemberBusinessAtkinson Public RelationsSenior Account Executive
    John A Beam IIIBoard MemberBusinessEquitus Law AllianceAttorney-at-Law
    W. Perry BlandfordBoard Treasurer; Board MemberBusinessErnst & Young LLPTax Partner
    Sandra CampbellBoard MemberResidentMetro General Sessions CourtAssistant to Judge Dan Eisenstein
    David CraneBoard President; Board MemberBusinessCrane Builders, LLCOwner
    Tony GiarrantanaBoard MemberBusinessGiarratana development IncCEO
    Charley HanklaBoard MemberOtherColliers, Turley, Martin, TuckerIndustrial Real Estate Broker
    Reverend William R HarrisBoard SecretaryResidentGalilee Missionary Baptist ChurchPastor
    Jerry MaynardBoard MemberLocal GovernmentMatthew Walker Health CenterGeneral Counsel/ City Council member
    Rosemary PlorinBoard MemberBusiness  
    Glenn ShoreyBoard MemberFinancial InstitutionBank of AmericaCredit Products Underwriter
    Karen StarksBoard MemberBusinessDell, IncWinning Culture Program Director
    Dr. Eugene TeSelleBoard MemberResidentVanderbilt UniversityProfessor (Retired)
    Brenda WynnBoard MemberFederal GovernmentCongress Jim Cooper's OfficeDirector of Community Outreach

    About the NeighborWorks ® Network
    The NeighborWorks® network is a nationwide network of more than 240 community development organizations working in nearly 4358 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks® organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

    NeighborWorks ® America Contact Information
    District:  Great Lakes
    Name:  Karen Whedon
    Phone:  513-221-4260
    Toll-Free:  877-316-8880
    Fax:  513-221-4425
    Email:  kwhedon@nw.org