80 Savannah-area projects funded in first 11 months
SAVANNAH, Ga., Sept. 6, 2024 – The Port of Savannah Area Workforce Housing Initiative, funded by the Georgia Ports Authority, has aided 80 Savannah-area residents in the period from September 2023 through July 2024. A total of $625,000 in assistance went to 60 owner-occupied home repairs, 14 home purchases and six new home construction projects.
“At GPA, we are excited to be a part of this effort to improve quality of life and housing availability for our neighbors in the Savannah community,” said Georgia Ports President and CEO Griff Lynch. “It’s gratifying to know that real people are being helped to stay in their homes or start a new chapter in their lives as homeowners. Housing is a key factor in maintaining a vibrant workforce for the future.”
Georgia Ports has pledged a total of $6 million over eight years to support housing availability. The program is administered in partnership with the city of Savannah, Housing Savannah, Inc. and the Community Housing Services Agency, Inc.
The initiative assists near-port communities through the repair, construction, and purchase of affordable and workforce housing. It benefits low- and moderate-income homeowners, first time homebuyers, and renters.
The initiative focuses on housing improvements for residents of neighborhoods in the vicinity of the Port of Savannah’s Garden City Terminal and Ocean Terminal. It prioritizes home repairs for existing neighborhood residents and homeowners. It also supports eligible applicants with down payment assistance for first time home purchases in the Savannah area, including Garden City, Port Wentworth, and the City of Savannah.
“Many of these individuals who are recipients of these funds are modest-wage homeowners or homebuyers. This gap funding makes it possible for them to have a roof over their head or do some deferred maintenance on their modest home,” said CHSA Executive Director Anita Smith-Dixon. “In terms of making a downpayment, it provides them with gap financing so that they are able to purchase a home, which is becoming increasingly difficult to achieve.”
GPA contributes the funding to Housing Savannah, Inc., a nonprofit that raises private and philanthropic donations for the Savannah Affordable Housing Fund (SAHF).
The SAHF, created by the city in 2011 and administered by CHSA, is used to leverage additional investments to support the development, preservation, and protection of affordable and workforce housing. At $6 million, GPA’s pledged contribution represents the single largest outside contribution to the Savannah Affordable Housing Fund in its history.
About Georgia Ports
Georgia’s ports and inland terminals support more than 561,000 jobs throughout the state annually, contributing $33 billion in income, $140 billion in revenue and $3.8 billion in state and local taxes to Georgia’s economy. GPA anticipates investing $4.2 billion in the next ten years as part of its port master plan to expand cargo handling capabilities to support future supply chain requirements. As part of GPA’s community engagement efforts, $6 million will be donated to communities located near the Port of Savannah to support a multi-year, local workforce housing initiative. CNBC ranked Georgia #1 in the U.S. for infrastructure in America’s Top States for Business in 2023. Area Development – a site selection news outlet for the U.S., has ranked Georgia as the Top State to Do Business for ten consecutive years. For further information, visit gaports.com or contact Edward Fulford, manager of media relations, [email protected] 912-964-3806.