Indianapolis program seeks to pair landlords, families to build generational wealth
INDIANAPOLIS (WISH) — An affordable housing pilot program has been designed to help set up families for success.
Spearheading the program, the MLK Center needs the support of the community and landlords.
The first of two families in the pilot program has already moved in. In addition to the affordable housing support, the family also will get support specifically focused on education and financial literacy with a goal of eventually becoming homeowners and building generational wealth.
The MLK Center is helping families with connections to the center. Allison Luthe, executive director of the center, said, “I think about it when housing is gone it’s kind of this foundation of your family is gone, and when you have unsecure housing lots of other things become chaotic in your life.”
Luthe said the center found some landlords focused on profits, which often leads to substandard housing. With rising rental rates, the focus on profit has put a few families in a bind.
The center director noted Martin Luther King Jr.’s belief that the market operation of the American economy propagated unemployment, discrimination, and economic injustice. “It’s straight back to his belief in economics, and that we shouldn’t be putting people in slums where they are designed to keep people down. And so, what are the opportunities we have to help people rise up and reach the full potential that they are capable of doing?”
A month ago, the center rolled out the pilot program in partnership with an Indianapolis landlord. The center holds the lease, and subleases a unit to a family. Terrence Sandford, the community and family program director at the center, said the procedures helps “make sure they have a comprehensive plan by way of financial literacy, building their credit, for meeting their overall goal.”
Covering half the costs through community donations, the pilot program was designed to allow families a chance to save and prepare for what’s next while simultaneously undergoing biweekly coaching sessions.
“Our approach is always two-generational. We want these programs to affect not just the parents but also the children,” Sandford said.
Luthe said, “We need landlords. If there are any landlords out there who would be willing to give one or two of their units to do this, we would be happy to help make that happen.”
In addition to the pilot program, the MLK Center is also planning the building of a gymnasium named after WNBA superstar Tamika Catchings.