Heritage Housing Partners (HHP) was founded in 1998 as a 501(c)(3) non-profit. Our mission is to promote long-term affordable homeownership through the preservation of existing historic homes and the construction of new, contextual single-family residences. We believe that providing low-, moderate-, and workforce-income first-time homebuyers with affordable ownership opportunities results in overall neighborhood revitalization. HHP aspires to develop homes that will instill the homeowner with pride not only in their own home, but also in their community.
HHP’s strategy seeks development opportunities in Southern California cities where the affordable sales price of HHP’s homes will be substantially below the median sales price for comparable units. Our past and future projects are located in Pasadena, South Pasadena, and Glendale where the quality of life is high, but the availability of affordable for-sale housing is typically out of reach to households making between 80% to 150% of the area median income. HHP strives to build market-quality units and sell them at below-market prices to income-qualified first-time homebuyers.
To date, HHP has sold over 200 affordable homes to income-qualifying homebuyers and has a current development pipeline of over 100 units. We have a dedicated design and building team that is experienced in building energy-efficient, market-quality units that are consistent with the architectural style of the surrounding neighborhood context.
HHP’s experience in obtaining traditional and non-traditional funding sources is another key to our success. One of our most recent projects was financed using a traditional construction loan along with New Market Tax Credit equity (the first use of New Market tax credits for an affordable for-sale project in the U.S.). Permanent sources used silent city, county, and state mortgages to keep the first mortgages affordable for our homebuyers.