SOCIAL IMPACT
Our values reflect what guides us as an organization and by putting people first we seek to meet one of the most basic human needs – safe, warm, dry, and well-maintained affordable housing – to the most underserved individuals and families in our communities.
Our goal is to increase the long-term self-sufficiency, safety, prosperity, and quality of life for residents in our neighborhoods. Well-lit streets, trees and green spaces, renovated homes with curb appeal, active businesses, and value-aligned services can stabilize and revitalize neighborhoods and lives.
Our long-term buy-and-hold strategy ensures that the impact and opportunities we create in our communities will last well into the future.
STRATEGIC IMPACT
RECLAMATION
Renovating existing single-family homes and infill on vacant lots is aligned with affordable housing advocates’ focus on preservation of existing units by reclaiming the tremendous stock of well-located, formerly owner-occupied housing.
REVITALIZATION (NOT GENTRIFICATION)
Rather than creating a new demand by buying low and flipping high to a more financially secure demographic, the focus is to satisfy the existing, underserved demand for current residents. Population growth or an influx of new residents isn’t needed as the need is simply for superior opportunities.
STABILIZATION
Every house bought and renovated by a responsible investor creates a restored property with a well-kept exterior that helps anchor and stabilize a neighborhood. Reducing vacancy reduces blight and has a direct correlation in reducing persistent poverty and crime.
CONTINUATION
Buying-and-holding long into the future ensures that the affordable housing supply, reclamation, revitalization, and stabilization of the community will last well into the future.
SOCIAL INITIATIVES
COMMUNITY REINVESTMENT FUND
- NOVVEX will set up a community reinvestment fund which will seek to partner with local organizations to bring improved street lighting, green spaces, trees, murals, and playgrounds to its communities.
FREE INTERNET AND SECURITY SYSTEM
- Providing housing is NOT sufficient to support an individual or household’s long-term success. Access to the internet is as essential as services like water, gas and electric in today’s high-speed world.
- Likewise, it is essential that our residents feel safe and secure in their homes and a home security system will provide that. Providing free internet and home security will help improve the quality of life in our communities.
VOLUNTEERING OUR TIME AND RESOURCES
- NOVVEX is committed to donating its time, resources, and expertise throughout the year with its staff volunteering its time in community cleanups, assisting neighborhood associations, and providing accounting and business support to local businesses.