Visionary Home Builders of California (VHB) was presented with a $100,000 Wells Fargo Priority Markets Program (PMP) grant on Friday, November 30. PMP, funded by Wells Fargo Foundation, supports projects, programs and initiatives focused on neighborhood revitalization and helps remove barriers to sustainable housing in low- and moderate-income communities. VHB is one of 50 nonprofits selected nationwide to receive these funds.
During the check presentation, VHB CEO Carol Ornelas thanked leaders of the financial services provider for their continued investments into affordable housing and the community of Stockton.
“We have the opportunity to make noticeable changes in the lives of so many that have been affected by the lack of affordable housing,” said Ornelas. “These grant dollars will be utilized to make a huge impact on Stockton and the surrounding communities.”
This grant brings Wells Fargo’s total investment into VHB and affordable housing efforts in the city of Stockton to more than $1.1 million over the last nine years.
VHB will utilize the PMP grant for several projects providing housing to low-income individuals and families in Stockton. These projects include the following:
Homes at Simbad Estates, a 17-home development located in South Stockton, will be sold to first-time homebuyers of low- to moderate-income levels. This community is surrounded by public and community amenities and large national brand industrial manufacturers, which employ local residents.
Located off of March Lane near El Dorado Street, the Villa de Oro community will undergo a full rehab, which will focus on maintenance repairs, energy efficiency and accessibility. This community consists of 11 buildings with a total of 172 multi-family units, a laundry facility and leasing office.
Hunter Street Apartments are made up of seven residential buildings and one laundry facility and a leasing office. Funding will be used for rehab work including maintenance repairs, energy efficiency and accessibility. The improved property will provide 74 multi-family housing units with preference to veterans, as well as Supportive Service programs.