July 21st 2023.
Tawan Davis, founder and CEO of The Steinbridge Group, is making strides to increase homeownership for working-class families. He is doing this by partnering with PNC Bank and Fierce Realty Corp to acquire and renovate homes for working families to lease throughout the United States.
Davis’ inspiration is deeply rooted in his family background. He was born in Portland, Oregon and his great-grandmother and her two sisters were sharecroppers who purchased several houses in northeast Portland after the 1948 Vanport Flood. They opened their doors to family and friends who came to visit the area and worked to accumulate their own wealth.
But Davis is aware that times have changed, and that working families have a much more difficult time purchasing homes due to gentrification. He believes that if his great-grandmother and her sisters were alive today, they would be wealthy from the homes they purchased.
To that end, The Steinbridge Group has made it their mission to support working families in acquiring housing. The company is dedicated to investing $2 billion by obtaining several thousand homes, and promises that housing costs for homebuyers will not surpass 30% of their income.
The Steinbridge Group's efforts are in collaboration with PNC Bank and Fierce Realty Corp, an African American, female-owned real estate brokerage firm. The partnership will focus on rebuilding residential spaces in metropolitan areas across the United States.
The PNC Bank is a huge supporter of the initiative and is committed to helping families finance mortgages and providing learning opportunities. They will ensure that loan officers are working diligently to secure mortgage financing for homebuyers, and will also support families through the process by giving them access to financial education and assistance with down payments.
Davis is passionate about the impact that this initiative can have. He hopes that it will be a model that will be used nationally to build on the rich homeownership history of Philadelphia.
The Steinbridge Group, PNC Bank, and Fierce Realty Corp are working together to create a real difference in the lives of working families. Their commitment to increasing homeownership is admirable and a much needed solution to the gentrification problem.
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