Many nonprofits suffer from the threat of displacement because they do not own their building, and many communities suffer from gentrification because of rising real estate prices. This program aims to preserve and protect nonprofit and community real estate assets through our short-term acquisition solution. If an at-risk facility is identified and Sharing Connexion has the capacity to purchase to “save” or “preserve” the asset, then Sharing Connexion will purchase the asset for a short-term holding period and then sell it to the nonprofit occupant (or a selected housing organization if the project is affordable housing preservation).
The sales price will be determined from the onset and will not factor in an increase in market value over time; holding the valuation constant relates to our charitable purpose to assist and support nonprofits. Sharing Connexion does not desire to be a long-term property manager. This short-term holding period gives the nonprofit or housing organization sufficient time to conduct fundraising and/or financing that may not otherwise be secured quickly enough for purchase.
Extended Hands of Hope, a Colorado nonprofit, offers safe housing and supportive services to sex trafficking survivors, empowering them to move forward with hope and dignity. At their main site, they operate transitional housing, counseling services, and a school. Due to the nature of their services and necessity of safety and privacy, the location of their property is vitally important. When their landlord gave them short notice about selling the property, Extended Hands of Hope needed a solution fast. Under the Real Estate Rescue program, Sharing Connexion was able to quickly acquire the property and grant Extended Hands of Hope the necessary time to fundraise so they could purchase their facility. According to Kristen Harness, the Founder and CEO of Extended Hands of Hope,
“The thought of losing this property was devastating for us because it took years to find this home, and it works perfectly for our program. When we met with Sharing Connexion, we immediately realized that we were working with people who actually cared about how this would negatively impact the girls we work with and knew this was a perfect solution for us.”
At Sharing Connexion, we empower nonprofits with solutions that will give them stability and allow them to grow their services. After two years, Extended Hands of Hope was able to purchase their facility, with no debt. Real Estate Rescue gave them time to fundraise while having full confidence that they could operate their mission without threat of displacement or disruption. Now, Extended Hands of Hope looks to the future with a big vision for their property. Kristen says,
“Our site has the capacity and space to provide housing for many more survivors of sex trafficking, and we plan on utilizing that space to the fullest! Our goal is to build 3-4 more homes on it, so that we never have to say ‘NO’ to a young girl who is in need of safe housing again. We also want to expand our classroom space, add a multi-purpose recreation building, add a basketball court, and horses for equine therapy! We have a big vision because unfortunately the need is great in Colorado. We believe that every girl deserves a childhood and a safe place to live, and without Sharing Connexion stepping in to help us, we would not have been able to provide our crucial services. We are incredibly thankful.”