4 Newark Families Become New Homeowners Through ‘Section 8’ Program

NEWARK, NJ — When Patricia Hobbs first heard about the city of Newark’s “land bank” program, the seeds were planted for a personal dream: owning her own home. Now – two years later – Hobbs is moving into a three-bedroom, two-bathroom house with a driveway and a backyard at 223 Peshine Avenue. And determination was a big part of her formula for success.

“I wrote it down every single day that I would be a homeowner,” she said, remembering the mantra that she’d repeat to herself.

On Tuesday, Hobbs and the heads of three other local families were handed the keys to their own homes. It marked a big milestone for the lifelong Brick City resident, who is a participant in the Newark Land Bank’s Section 8 Homeownership Conversion Program. Read More: Newark Families Get Keys To Their 1st Homes: 'My Dream Came True'

Through the Section 8 program and other initiatives, the land bank partners with community groups and developers to “acquire, maintain and repurpose vacant, abandoned and foreclosed properties.” Read More: Newark 'Land Bank' Hopes To Boost Homeownership, Beat Blight

Hobbs and the other three families were chosen via a lottery for a portion of the 5,365 active Section 8 voucher holders who qualify for a mortgage through Neighborhood Assistance Corporation of America. Participants complete mandatory credit and post-homeownership counseling that will be conducted by the HUD-certified Urban League of Essex County.

“Our administration has committed itself to creating pathways for more Newark residents to become homeowners, no matter their income level,” Mayor Ras Baraka said at a news conference held at Hobbs’ new home.

“There’s always a narrative about Newark, and people usually hang onto these narratives as long as they can because it makes them feel better talking about us in a very negative way,” Baraka said.

“Sometimes we internalize that and we carry that negative spirit to each other,” the mayor continued. But hearing the speech that Hobbs gave on Tuesday filled him with “incredible encouragement,” he said.

“What we’re doing today is the absolute right thing to do,” Baraka emphasized.

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Baraka thanked Invest Newark – the economic development corporation that runs the city’s land bank – for “successfully collaborating with us to make this day happen and for continuing to transform blighted properties into vibrant neighborhoods.”

Marcus Randolph, president and CEO of Invest Newark, said that the group is looking forward to “expanding this monumental program across the city of Newark.”

“Homeownership is the first step to building sustainable wealth,” Randolph said.

It wasn’t only Hobbs who benefited from the renovation, officials pointed out. The property that she moved into was upgraded by a team from nonprofit organization YouthBuild, which helps young people learn on-the-job construction skills while obtaining their GEDs.

The land bank’s Section 8 program is supported by a $125,000 grant from Wells Fargo, a $1.2 million construction loan from the Local Initiatives Support Corporation, and a $500,000 investment from the Victoria Foundation. For more information about the program, click here.

• See related article: Newark Fights Back Against Corporate Home Buying Spree
• See related article: Bank 'Redlined' NJ Home Buyers In Newark Metro Area, Feds Allege
• See related article: Newark Targets Derelict Property Owners With New Ordinance

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