Storehouse of Hope

Overview

Storehouse of Hope is a nonprofit organization based in Detroit, Michigan. It was established as a 501(c)(3) entity and has been tax-exempt since December 2011.

Mission and Activities

The mission of Storehouse of Hope includes providing emergency food, personal care services, referrals to needed resources, and specific education and development activities[2][3]. However, it has also been involved in addressing housing issues in Detroit, particularly focusing on the challenges of tax foreclosure and affordable housing[1].

Housing Initiatives

Storehouse of Hope has been working towards creating a community land trust to address the severe tax foreclosure problem in Detroit. This initiative was part of a broader effort by housing justice advocates in the city, who recognized the need to protect low-income families from losing their homes due to excessive tax burdens[1].

In 2015, Storehouse of Hope raised funds through a GoFundMe campaign to purchase 15 homes at a tax foreclosure auction. The goal was to keep occupants in their homes and eventually convert them into homeowners through a land trust model. The organization aimed to maintain long-term affordability and ensure the properties were not lost to foreclosure or developers[1].

Challenges

Despite its ambitious goals, Storehouse of Hope has faced significant challenges. It has struggled financially and has yet to convert any of its tenants into homeowners, though two tenants are reportedly in the process of purchasing their homes[1]. Additionally, the organization has faced criticism for neglecting some of its properties, resulting in difficult living conditions for tenants[1].

Impact

Storehouse of Hope has provided affordable housing to several families saved from foreclosure. It offers rent set at 30% of tenants' self-reported income, which is considered affordable by national housing standards. The organization has also implemented measures to reduce utility costs by installing rooftop solar panels on some properties[1]. However, its model remains largely unfulfilled in terms of converting tenants into homeowners.