Teton Habitat Awarded Major Funding for The Grove Phase III From FHLB through Bank of Jackson Hole

A $200,000 Competitive Affordable Housing Program (AHP) grant from the Bank of Jackson Hole and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) will help fund the $8 Million affordable housing development at The Grove Phase III, a 24-unit condo-home development in the town of Jackson, WY.

The grant was awarded to Habitat for Humanity of the Greater Teton Area (Teton Habitat), a local non-profit organization that is spearheading the project. This grant is the first ever AHP grant awarded in Teton County.

“The homes we’re building at The Grove will positively impact the long term quality of life for 24 local families,” said Teton Habitat Executive Director Kendra Heimbuck. “Being awarded this grant underscores the great value of affordable housing in our community and the high caliber of Teton Habitat’s project execution in comparison to affordable housing developments across the nation.”

The first 8 units at The Grove Phase III, behind the County Library in Jackson were finished last fall. The 8 units in the second stage supported by this AHP grant will be completed in early 2020 with the entire 24 unit construction project slated to wrap up in the summer of 2021.

“The Bank of Jackson Hole is proud to facilitate projects that help our community,” said Bank of Jackson Hole’s President, Jim Ryan. “Through this partnership with FHLB Des Moines, we are able to support a great cooperative project making the dream of affordable living for some working families a reality.”

Funds for this program were provided through the Federal Home Loan Bank of Des Moines Competitive Affordable Housing Program.

About Habitat for Humanity of the Greater Teton Area

Habitat builds affordable homes in partnership with hardworking families in the Greater Teton Area and strengthens families and neighborhoods through community education and volunteer engagement.  With the proud support of one of the area’s most passionate donor communities, homes are built and sold at no profit to pre-selected partner families and individuals through an interest-free loan to ensure affordable monthly payments.  Homeowners also contribute at least 500 hours of sweat equity, save for closing costs, and take a series of homeowner education classes to qualify as Habitat Homeowner partners.  Habitat also runs the Habitat for Humanity ReStore, which sells donated home furnishings, appliances and building supplies to help fund Habitat’s program.
For more information: www.tetonhabitat.org/ or 307-734-0828 or visit the Habitat for Humanity ReStore

Building strength, stability, and self-reliance!
Habitat for Humanity of the Greater Teton Area (Teton Habitat)
kendra@tetonhabitat.org | 307-734-0828
850 W. Broadway | P.O.Box 4194
Jackson Hole, WY 83001
Facebook: https://www.facebook.com/tetonhabitat/
ReStore Facebook: https://www.facebook.com/tetonhabitatrestore/
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Twitter: https://twitter.com/TetonHabitat