As part of the Port of Savannah Area Workforce Housing Initiative, the Georgia Ports Authority has now assisted nearly 100 Savannah residents with home repairs, home purchases and new home construction projects. This first round of assistance totaled $625,000, with $6 million pledged over eight years to support housing availability.
“At GPA, we are excited to be a part of this effort to improve quality of life and housing availability for our neighbors in the Savannah community,” said Georgia Ports President and CEO Griff Lynch. “It’s gratifying to know that real people are being helped to stay in their homes or start a new chapter in their lives as homeowners. Housing is a key factor in maintaining a vibrant workforce for the future.”
The program is part of a partnership with the city of Savannah, Housing Savannah, Inc. and the Community Housing Services Agency. The initiative is part of an effort by the port to be a good neighbor, assisting near-port residents with the upkeep and construction of homes for low- and moderate-income homeowners. Eligible participants also include first-time homebuyers and renters. The program is focused around the Port of Savannah’s Garden City and Ocean Terminals. It also supports some down payment assistance for first time homebuyers in Port Wentworth and the city of Savannah.
“Many of these individuals who are recipients of these funds are modest-wage homeowners or homebuyers. This gap funding makes it possible for them to have a roof over their head or do some deferred maintenance on their modest home,” said CHSA Executive Director Anita Smith-Dixon. “In terms of making a downpayment, it provides them with gap financing so that they are able to purchase a home, which is becoming increasingly difficult to achieve.”
The funding from the Georgia Ports Authority is the largest outside contribution in the history of the Savannah Affordable Housing Fund (SAHF). Created in 2011 by the city of Savannah, the funding is used to leverage additional investments for the development of affordable and workforce housing. Supporting more than 500,000 jobs across the state, the Georgia Ports Authority undoubtedly has a big impact on its neighbors besides some increased traffic.
The $33 billion in income for ports employees is spent on shops and restaurants and any other retail in the area. Hasty expansion of the port over the last ten years has helped to accommodate the incredible growth of port traffic, with little end in sight. The most recent port deepening is likely to be followed soon by another port deepening over the next few years. Ensuring a stable area, and potential workforce, is critical to the continued growth in the future.
