MP Housing Inc.
Home is where the heart is.
MP Housing, Inc. was established to provide permanent housing opportunities for the continued needs of Marguerite’s Place transitional housing residents. In a region with a significant lack in affordable housing, this is accomplished by the purchase of available, modestly priced residential property (e.g. condominium units) and rental of them to qualified tenants.
Presently, the tenants of MP Housing Inc.’s affordable housing units are former residents of Marguerite’s Place, Inc.’s transitional housing facility.
Its primary activity is to purchase residential real estate to provide affordable rental housing for disadvantaged women and their children. The ownership of these residential properties enables MP Housing, Inc. to ensure availability of affordable housing for Marguerite’s Place Inc. for years to come.
Read our success stories here!
History of MP Housing, Inc.
In 2000, the Board of Directors of Marguerite’s Place, Inc. was faced with the possibility that there would be no place for the families of Marguerite’s Place, Inc. to go once they successfully completed our transitional housing program. In response to the lack of permanent, affordable housing in the City of Nashua they decided to create a new non-profit called MP Housing, Inc.
In developing the criteria for this new entity, the Board sought input from residents of Marguerite’s Place, Inc. Their voices, as well as the Board’s fiscal responsibilities, were considered. The final decision was to purchase affordable condo units and lease them to those women who had moved to the next step in their journey to independence.
MP Housing, Inc. has been blessed with the assistance of the Board of Directors and supporters, especially the CDFA (Community Development Finance Authority) in securing tax credits two times in the past five years amounting to $800,000 to be used to purchase these condo units. To date, the organization owns 9 condo units and will be purchasing a 10th by the end of 2007. Since the beginning of MP Housing, Inc., there have been 35 women and children in these units.
All of the families that live, and have lived, in these units are employed and care for their children. Some are even able to attend college on nights and weekends. The young children are participants in the Day Care at Marguerite’s Place, Inc. Many of the children in elementary school and high school are on Honor Roll.
All of the tenants are encouraged to participate in an Independent Development Account, a Federal program to help save towards homeownership. Three of the former tenants saved enough to become homeowners! These are giant steps…from homeless to homeowners!