The City of St. Louis Park is offering an innovative program to help encourage home ownership for first-generation home buyers.

It is recognized that historical and institutional racism has disproportionately created housing challenges and disparities for Black communities, as well as members of communities who did not identify as white and other underserved low-income communities.

Additionally, the income and education gap between households of color and white households has resulted in difficulty for Black and African American people and households of color to obtain a mortgage, which leads to subsequent ongoing housing stability issues. The first-generation pilot homeownership program is designed to address these historic injustices and inequities, to facilitate affordable homeownership and to provide a means for wealth building. The goal is to address housing disparities; build power in communities most impacted by housing challenges and disparities; pilot an innovative program to address housing challenges for Black communities, communities who do not identify as white, and low-income communities; and support inclusive and equitable communities.

To be considered for the program, the buyer must have never owned a home, and their parents must never have owned a home. Households with one to four members must have an income limit below $79,900 (80% of Area Median Income). Income limits will be increased based on family size for families with more than four members.

For more information, visit the home ownership page or contact Marney Olson at 952.924.2196 or molson@stlouispark.org.