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Los Angeles is one of the most expensive cities in the nation to live in. The soaring prices for mortgages and rent is sky high, and the community has felt the crunch. But the efforts of the Canaan Group have greatly helped to ease the pain.
Founded in 1990 by the Second Baptist Church, which has been serving the community for 123 years, the Canaan Group is committed to restoring low to moderate-income neighborhoods. Dr. William Epps is the pastor of Second Baptist Church.
“We will continue to provide entrepreneurial opportunities, increase and empower home owners, and provide jobs through our work force program,” says Norman Bullock, the executive director of the Canaan Group.
Canaan has been successful in implementing and operating numerous programs that provide a wealth of opportunity to the community.
The Canaan Group has individually and in partnership with other organizations developed 355 units of affordable housing for low-to-moderate income level families, which includes large families, seniors housing, and special needs housing.
Canaan provides affordable housing to all income levels through economic development initiatives that meet the needs of the community.
Employment assistance, job training and case management for unemployed and underemployed individuals are provided through the Canaan Workforce Develop-ment Center. The center provides career planning, educational workshops and training workshops.
Home ownership education and payment assistance, credit repair, money management and retirement planning is provided through the Financial Literal Education Program.
Canaan’s Property Manage-ment Division offers asset and property management services to sponsoring organizations and affordable housing developers.
In 2003 Canaan launched its “Building a Village” Initiative, which seeks housing development opportunities to increase housing stock to underserved and underdeveloped Los Angeles communities, provides financial education to potential homebuyers, and facilitates homeownership.
Within the first year of the initiative Canaan fostered over 20 homeownership opportunities for low to moderate-income families. That was accomplished through the partnership with the Second Baptist Church Credit Union and other financial institutions.
Future plans are for a mixed housing/retail project, which will be on Washington and San Pedro. Group breaking is set for later this year, and construction will began next year.
“We are a link of service to empower the residence of our community to become home owners, business owners, and to provide other economic resources that the community desperately needs,” says Bullock.