The Haiti Home Ownership and Mortgage Expansion (HOME) Program, funded by the United States Agency for International Development (USAID), works on both the supply and demand side of the housing value chain in Haiti to create affordable housing. Through an incentive structure the program mobilizes the Haitian financial sector and property developers to lead the creation of a larger market for housing finance products and infrastructure. By the end of HOME, the program will facilitate the construction or improvement of 1,750 households and 7,875 Haitians will be occupying new or improved houses as a result of the HOME Program.
The program works with implementing partners, Habitat for Humanity International (HFHI) and the Affordable Housing Institute (AHI), and specifically, seeks to unlock liquidity in the Haitian banking sector, to mitigate risk for participating financial institutions (PFIs) and developers, and enable low, moderate and middle-income Haitian households to gain access to affordable housing. The HOME Program challenges and assists PFIs, developers, and low, moderate and middle-income households to identify, articulate and implement these solutions themselves—acting as a facilitator in the process—but does not create artificial interference in the housing market.
This program is timely, given that the 2010 earthquake destroyed 180,000 homes adding to the existing housing shortage, creating a backlog of nearly 300,000 units. USAID in close collaboration with the Government of Haiti (GOH) identified a number of fundamental constraints in Haiti’s housing delivery system. Against a backdrop of extreme poverty, the Haiti HOME Program helps address some of these constraints through the innovative uses of capital that have the additional benefit of addressing gaps, disruptions, weaknesses, or inefficiencies in Haiti’s delivery of either affordable homes or affordable housing financing.
Quarterly Update (April 2019)
In Q2 FY19 (January 1 to March 31, 2019), HOME continued to incentivize local developers to create model communities for underserved low and middle-income segments as well as incentivize banks to finance affordable housing communities and grow mortgage portfolios. To date, HOME partners with 3 local developers and 5 financial institutions. By the end of this quarter, HOME leveraged USD 16.4 million of local private capital, invested in exchange for USD 1.8 million incentives. Home also leveraged USD 7.2 million in housing loans disbursed, including mortgages.
Furthermore, the HOME team organized a workshop with representatives of the construction committee of the American Chamber of Commerce (AMCHAM) in Haiti to create a permanent platform to showcase the affordable housing sector and address challenges faced. The HOME team sought to create a learning and sharing environment where construction firms, as well as aspiring developers, could navigate the process of developing a housing project through the HOME program experience thus far.
During this quarter, HOME developer partner CHABUMA S.A, became fully EDGE certified by Green Business Certification Inc. (GBCI), and is now the first housing development in Haiti to receive this internationally-recognized certification for environmental efficiency.
Despite political unrest in February, HOME’s developer partners continued to make progress on their housing sites. HOME managed to mobilize more than USD 1 million in private sector resources during this quarter, primarily from developer partners.
Read more: An Introduction to Pay-for-Results in Development
Breaking New Grounds:
EDGE Certified Affordable Housing in Haiti
Patrick Brun is the owner of Chabuma, a local developer who recently finished building the country’s first affordable housing developments in Port au Prince. Chabuma’s Villa Flora and Village La Fontaine developments stand as a model for what is possible in Haiti when affordable housing meets sustainability. Each home offers a safe, clean and green space for families to escape the poverty trap and invest in their future. In a country where land titles are rare and houses are often purchased on the informal market, Chabuma’s developments offer a unique opportunity for low and middle-income households to gain security of tenure.
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Credit Union Magazine Article
CUs Provide Housing Hope for Haitians: WOCCU works to address housing shortage
A major earthquake in Haiti in 2010 killed more than 230,000 people, displaced nearly 1.5 million more, and destroyed more than 180,000 homes, exacerbating an already existing housing shortage.
Despite an influx of foreign aid, years after the earthquake inadequate housing options remain a challenge for Haitians. In 2015, with funding from the U.S. Agency for International Development (USAID), the World Council of Credit Unions started the Haiti Home Ownership and Mortgage Expansion (HOME) Program.
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Village Dominique, based in Santo 3, includes both a commercial and residential community with affordable, modern housing and green building certification.LEARN MORE
The development provides 75 units in Village Noailles, in the town of Croix-des-Learn More
Chabuma’s first developments are being built on the outskirts of Port-au-Prince and include 37 units in Corlette and six in Santo.Learn More
SOCOLAVIM exceeded initial targets set by the HOME program by more than 20%Learn More
Haiti HOME will enable Joselande to build a home instead of continuing to pay rentLearn More
Haiti HOME partners with Habitat for Humanity and Affordable Housing Institute in providing affordable housingLearn More
Credit Unions in Haiti
- 84 total credit unions
- 912,806 members
- USD 117,894,560 in assets