A new home ownership program to help educators in Richmond County afford housing is now available.
Real estate firm Realty One Group and developer Vetted Investments & Acquisitions LLC joined Augusta Housing and Community Development (AHCD) and SRP Federal Credit Union in cutting the ribbon on a new home off Deans Bridge Road, Friday morning, celebrating the home ownership program
Tenured Educators in Affordable Community Homes (T.E.A.C.H.) is an initiative designed to make affordable housing available to educators in Richmond County, developed through a partnership among the four abovementioned organizations.
“Affordable housing is not what you build, but what you finance,” said Hawthorne Welcher, executive director of AHCD, lauding his fellow collaborators on the project in attendance, including Jeremy Johnson, director of investor relations with Vetted Investments, SRP CEO Eric Jenkins and Realty One realtor Katerra Godbee. “I always have to be sure and go back to the foundation of it all…. the mission of the Augusta Housing and Community Development Department, which speaks to creating positive change by promoting self-sufficiency through partnerships. This is a testament to the actual partnerships there.”
Johnson drew from his own experience as a former Richmond County substitute teacher to form the concept for T.E.A.C.H., going on to examine teacher salaries and Housing and Urban Development (HUD) income limits for housing programs.
“You really have to make sure all the numbers line up… Can they afford it on their salary, will the bank finance them and then can we get it constructed?” said Johnson. “Once you make all of those numbers line up, that’s when we are moved. We’re ready to present to [AHCD] say, ‘Hey, listen, this is a project that we want to do.’ And thankfully they’ve seen the vision, they’ve seen the need, and they said, ‘hey, it looks great. Let’s move forward.’”
The initiative led to the development along Lyman Street of four new three-bedroom, two-and-a-half bath homes, priced at $225,000, qualifying 80% of Richmond County School District (RCSD) employees to purchase them, explained Johnson.
“The T.E.A.C.H. program is important because the school districts can’t control the cost of living, but there are resources in place that make affordable housing accessible to our educators,” he said. “That’s what this partnership represents. It’s that collaboration of resources that are available to ensure that that gap is being filled.”
Godbee, who has children attending school in the RCSD, recalls her mother taking on extra jobs to supplement her work as a Richmond County schoolteacher, going on to earn more degrees, and struggling for years to eventually own a home.
Having seen such a journey firsthand, she believes the T.E.A.C.H. initiative, alongside being a relief for teachers, will prove a means by which the community can show appreciation for its educators.
“I think they need to be recognized more… it’s a stressful job,” Godbee said. “We give them a hard time, the kids give them a hard time. I think it’ll kind of give them some comfort that… they are seen, that they are heard.”
The new homes at 2533, 2537, 2558 and 2567 Lyman St. are currently for sale. For more information, contact Stuart Brooks or Tiffany Wallace at Realty One Group.
Skyler Andrews is a staff reporter covering business for The Augusta Press. Reach him at skyler@theaugustapress.com.
