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$5.2 million pledged to go toward
Detroit home ownership
January 18, 2008
By KATHLEEN GRAY
FREE PRESS STAFF WRITER
Blight Busters and the National Faith Home Buyers got a $5.2-million injection of money to help create more homeowners in the city of Detroit.
“The foreclosure market is scaring people,” said Dina Harris, founder of National Faith Home Buyers. “We need to get the message to families that property values are at an all-time low and now is the time to buy a home.”
National Development Services Inc., a Detroit-based investment firm, has pledged $3.1 million while the Brewer Group, another investment firm based in New York, has pledged $2.1 million to the project. Movie actor Morris Chestnut, who has starred in dozens of movies including “Boyz n the Hood,” “G.I. Jane,” and “The Best Man,” flew in to help promote the program and pledge an undisclosed amount of money.
“This is a phenomenal opportunity to give back to the people who have given so much to me,” he said. “You’re not just placing people in homes, but educating people to help them stay in the homes.”
Blight Busters founder John George said in the past 20 years, his group, along with Habitat for Humanity and the National Faith Home Buyers, have built 300 homes, renovated 175 and demolished 150 in Detroit.
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