HISTORY
Homeownership Center Tacoma/Northwest (HCNW) is a non-profit housing development organization headquartered in Tacoma’s Hilltop neighborhood. In the early 1990s, declining incomes, infrastructure neglect, violent neighborhood discord, and other economic distresses upset the Hilltop neighborhood. The city struggled to find ways to deal with these mounting issues. When several abandoned lots and uninhabitable homes were identified, a group of community leaders and neighbors saw opportunities to assist in the creation of long-term stability for Hilltop communities and offer meaningful ways to build assets for low- and moderate-income residents.
In 1993, this group founded the Hilltop Homeownership Development Center. The organization began purchasing lots as part of a long-term vision of urban renewal in Tacoma. Within a few years, the nonprofit began offering lower-cost affordable homes to low- and moderate-income (LMI) first-time homebuyers throughout the South Puget Sound including veterans, seniors, BIPOC and LGBTQ+ communities. As the organization grew, additional funding sources were identified and secured to enhance services.
In 1998, the organization changed its name to Homeownership Center of Tacoma (HCT). HCT was able to offer second and third mortgages for down payment assistance and closing costs. HCT also began providing small group and one-on-one financial counseling to identify and pre-qualify prospective buyers to finance and purchase homes. In coordination with CDFIs and other community-based lenders, the organization continues to assist buyers in planning to purchase a home, understanding the home buying process, and securing appropriate financing.
In 2019, the organization added the "doing business as" name of Homeownership Center Northwest (HCNW) to reflect a strategy shift centered on expanding affordable housing throughout Pierce County. HCNW is focused on increasing its capacity to develop multi-family affordable housing units in response to the affordable housing crisis and in response to the needs of urban areas to increase density while increasing accessibility to transportation and other services. This effort aligns with City of Tacoma’s Affordable Housing Action Strategy (AHAS) objectives and the housing goals set forth in the One Tacoma Plan.
Managing and deploying over $30 million in investments, HCT/HCNW has developed and provided more than 215 homes for purchase by individuals and families earning 30 – 80% AMI. HCNW is expanding housing options for more LMI individuals and families though relationships with affordable housing organizations and entities throughout western Washington, Oregon, and California.
In 1993, this group founded the Hilltop Homeownership Development Center. The organization began purchasing lots as part of a long-term vision of urban renewal in Tacoma. Within a few years, the nonprofit began offering lower-cost affordable homes to low- and moderate-income (LMI) first-time homebuyers throughout the South Puget Sound including veterans, seniors, BIPOC and LGBTQ+ communities. As the organization grew, additional funding sources were identified and secured to enhance services.
In 1998, the organization changed its name to Homeownership Center of Tacoma (HCT). HCT was able to offer second and third mortgages for down payment assistance and closing costs. HCT also began providing small group and one-on-one financial counseling to identify and pre-qualify prospective buyers to finance and purchase homes. In coordination with CDFIs and other community-based lenders, the organization continues to assist buyers in planning to purchase a home, understanding the home buying process, and securing appropriate financing.
In 2019, the organization added the "doing business as" name of Homeownership Center Northwest (HCNW) to reflect a strategy shift centered on expanding affordable housing throughout Pierce County. HCNW is focused on increasing its capacity to develop multi-family affordable housing units in response to the affordable housing crisis and in response to the needs of urban areas to increase density while increasing accessibility to transportation and other services. This effort aligns with City of Tacoma’s Affordable Housing Action Strategy (AHAS) objectives and the housing goals set forth in the One Tacoma Plan.
Managing and deploying over $30 million in investments, HCT/HCNW has developed and provided more than 215 homes for purchase by individuals and families earning 30 – 80% AMI. HCNW is expanding housing options for more LMI individuals and families though relationships with affordable housing organizations and entities throughout western Washington, Oregon, and California.
