Washington and Lee University
Saint Joseph's Carpenter Society of Camden, New Jersey, was founded in 1985 to help families improve their quality of life and create safe neighborhoods through homeownership. The Carpenter Society's three-phased approach to community development is stabilizing the local housing market. To date, the Society has developed 875 residential properties in targeted neighborhoods. Over two-thirds of these have been homeownership. In 2009, 107 individuals graduated from the Homeowner Academy with 294 people attending the classes. Typical homebuyers are African American, Hispanic, and Asian. Typical household annual incomes are $20,000 to $35,000. The value of SJCS homes has risen dramatically: in 1990 rehabilitated homes sold for $20,000; today these homes sell for between $68,000 and $140,000. The fact that the Society's homes are appreciating and that families are successful homeowners are strong endorsements of the Carpenter Society's community development approach.