HUD Archives: News Releases
HUD No. 02-067
Sharon Atwell, (520) 670-6237, ext. 226
June 19, 2002
MARTINEZ HIGHLIGHTS PRESIDENT BUSH'S INITIATIVE TO EXPAND HOMEOWNERSHIP
public-private partnership that built Tucson single-family housing development
TUCSON, Ariz. - U.S. Housing and Urban Development Secretary Mel Martinez today
praised the Sunland Vista Estates single-family housing development as a sterling
example of what the public and private sectors can do when they work together
to build affordable housing for minority families.
Sunland Vista Estates, a 65-house development located in a heavily Hispanic
area of Tucson, is the result of a cooperative effort by HUD, Freddie Mac, United
Housing, a Hispanic non-profit that built and developed the property; Chicanos
por la Causa, a HUD-approved housing counseling agency; and the real estate
and mortgage banking industries.
Martinez toured the development's model home as part of National Homeownership
Month proclaimed by President Bush.
"Earlier this week, the President set a goal to help increase the number of
minority homeowners by 5.5 million by the year 2010," Martinez said. "Despite
a record homeownership rate of 68 percent for the population at large, we have
a homeownership gap among Hispanic, Africa-American and other minority families.
The President and HUD are intent on changing that equation and raising the minority
homeownership rate because homeownership strengthens families, strengthens communities
and is critical to the country's economic health."
Homeownership among Hispanics nationally stands at 47.3 percent and at 47.7
percent for African-Americans, compared to 74.3 percent for the white, non-Hispanic,
Martinez was joined on the tour by Leland C. Brendsel, chairman and chief executive
officer of Freddie Mac, one of the nation's leading mortgage finance companies.
"Freddie Mac is pleased to be here today with Secretary Martinez to support
the President's call to increase minority homeownership," Brendsel said. "'Catch
the Dream Tucson' is a good example of how Freddie Mac is working with national
and local partners to dismantle the barriers that impede minority homeownership
and build strong communities one family at a time."
"Pima County is proud to be a part of this partnership that is designed to increase
Hispanic and minority homeownership," said Pima County Supervisor Richard Elias.
"The Freddie Mac initiatives in conjunction with Catch the Dream Tucson will
bring security, peace of mind and future wealth to the families that become
The Sunland Vista Estates development is part of Freddie Mac's $50 million Catch
the Dream Tucson minority homeownership initiative in the six incorporated jurisdictions
of Pima County, including Tucson. HUD provided an $83,995 grant to United Housing
for down payment assistance through its Home Investment Partnership Program
(HOME) program and Community Development Block Grants (CDBG) totaling $65,000
to Chicanos por la Causa through the city.
Other participating partners include the Bank of America, Wells Fargo Home Mortgage,
United Housing Education and Development Corp., Family Housing Resources, Industrial
Development Authority of Pima County, National Association of Hispanic Real
Estate Professionals, Tucson Association of Realtors, Southern Arizona Home
Builders Association, and local homebuilders.
Secretary Martinez also highlighted other Bush Administration initiatives that
the President announced earlier this week, which will include: 1) the American
Dream Downpayment Fund, aimed at helping 40,000 families each year with down
payment cost, including 1,526 eligible families in Illinois; 2) a single-family
tax credit; 3) a housing counseling program to help families through the home
buying process and to educate them against unscrupulous lenders.
HUD is the nation's housing agency committed to increasing
homeownership, particularly among minorities, creating affordable housing opportunities
for low-income Americans, supporting the homeless, elderly, people with disabilities
and people living with AIDS. The Department also promotes economic and community
development as well as enforces the nation's fair housing laws. More information
about HUD and its programs is available on the Internet.
Content Archived: April 9, 2010