Homewise, Inc.
Grants Awarded
The Los Prados project by Homewise, devised to address Santa Fe's affordable housing crisis, will contribute 161 new homes, half of which will meet the city's affordability standards. The initiative encompasses an integrated Community Development approach which, based on feedback from over 200 local residents, will include a diverse park facility in one of the most densely populated neighborhoods. The Los Prados Park will enhance local transportation infrastructure, include sports facilities, walking trails, and a dog park, as well as serve as a catalyst for carbon-free transportation options – merging community need for accessible outdoor space with provision of new affordable homes.
The mission of Homewise is to create successful homeowners and strengthen neighborhoods so that individuals and families can improve their long-term financial wellbeing and quality of life. Homewise Inc. is a certified 501(c)(3) nonprofit community development financial institution (CDFI) and a member of the NeighborWorks America network, a national organization that promotes housing affordability. Homewise is also a member of the Opportunity Finance Network, a leading national network for CDFIs. Since 2021 it has received a superior AA rating in financial strength and performance from AERIS, an independent rating and information service. Homewise offers loan products and services that are broadly designed to promote affordable homeownership opportunity in New Mexico. Our integrated program model delivers excellent customer service and competitive financial products to create an experience that is aligned with the financial wellbeing of each client. This model empowers customers with needed skills, provides them with affordable lending products and homes, and supports them as partners both before and after the home purchase. The goal of sustainable and affordable homeownership is carried out through financial education and coaching, real estate services, affordable mortgage lending and downpayment assistance, refinance, and home improvement lending. Homewise also strengthens neighborhoods by increasing homeownership through real estate development and rehabilitation of disinvested properties. To further improve quality of life and strengthen neighborhoods, Homewise added a Community Development initiative to its strategic model in 2018. The Homewise Community Development team uses a catalytic place-based community redevelopment strategy to increase economic activity and restore the historic and cultural identity of severely under-resourced urban neighborhoods. This work begins with community engagement activities, including surveys and community meetings, to understand the needs of a local community and inform responsive design. For example, in 2020, Homewise partnered with NeighborWorks America and the Barelas neighborhood in Albuquerque to conduct the Voice of Barelas Community Impact Measurement Survey. This nationally vetted survey helped us to understand the needs of the community, which is 72% Latino and overwhelmingly low- and moderate-income, through the eyes of its residents. As a result, Homewise has developed two community projects: The Koala Children’s Academy, a bilingual childcare facility that created 60 new seats for newborns to five-year olds, and the Barelas Community Kitchen, a commercial kitchen that will serve as an incubator and commissary for 20 to 25 food entrepreneurs in a partnership with The Street Food Institute alongside seven retail-facing units and nine affordable office and studio spaces. We repeated the Voice of Barelas Survey in 2024 to understand how the community has been impacted by these projects, how the needs have changed over time, and how our Community Development work can continue to strengthen the Barelas neighborhood. Homewise is bringing the same Community Development approach to the Southside of Santa Fe, starting with a Community Impact Measurement Survey completed by over 200 residents in 2023. This provides us with helpful direction as we plan for amenities, commercial uses, and other features of new affordable housing developments in the neighborhood, including the Los Prados community.