Homebuyers can get $2,000 – $10,000 benefit
The innovative home sales stimulus program created here between seven home building unions and six homebuilders that provides an extra $2,000 to $10,000 in free upgrades or reduction of closing costs, has been extended until the end of June or until the stimulus funds are exhausted.
Because of the overwhelming response, the Neighborhoods Built By Your Neighbors program will continue to help homebuyers get additional value in the home of their dreams, said David Zimmermann, business manager, Sheet Metal Workers Local 36, one of the seven unions who have put up $930,000 into the program. “It’s a great program for home buyers and for our members.”
Other participating unions are Plumbers & Pipefitters Local 562, Electrical Workers (IBEW) Local 1, Greater St. Louis Construction Laborers, Cement Mason’s Local 527, Painters and Allied Trades District Council 58 and the St. Louis-Kansas City Carpenters Regional Council.
And where can you find this incredible value? Participating builders are Bridgewater Communities, Fischer & Frichtel, McBride & Son Homes, McKelvey Homes, Payne Family Homes and Simon Homes. Builders are spending approximately $1 million to market the program.
PROGRAM BENEFITS
The stimulus program features:
• Cash incentives ranging from $2,000 to $10,000 to be used at closing for anything the homeowner desires, including major upgrades like finishing a basement, a brick front, different flooring, etc. The specific incentive amount is based on the home’s final cost. The average has been around $5,000.
• 100-percent union-built homes, no exceptions.
• Cash can also be used to reduce an interest rate or cover closing costs.
• Availability in the Missouri communities of the six participating homebuilders.
• First-come, first-served until the $930,000 is exhausted.
• A commitment by participating homebuilders that they will ensure all work on all their homes is 100 percent union for a full year.
Since it was launched in 2011, excluding results this year so far, the program has built 1,680 homes housing approximately 5,000 people. Participating unions have contributed almost $7 million to the greater St. Louis community through this first-in-the-nation Union Homebuilding Partnership.
Over the course of now seven years – after this season – the Neighborhoods Built by Your Neighbors program will have generated approximately 3,192,000 man-hours of union work.
UNION SKILLS PROVIDE ‘AMAZING DEAL’
“This is an amazing deal for homebuyers,” said John F. Eilermann Jr., chairman and CEO of McBride & Son Companies. “The skills of our union construction workers assure homeowners that they are getting real value for their money. And this is on top of the value provided by each participating homebuilder.”
“This program not only helps to keep members working, it’s an incredible ‘insurance policy’ for homeowners,” said John O’Mara, business manager for Plumbers and Pipefitters Local 562.
“You’re plumbing system is the heartbeat of your home. If a homeowner has a bad plumbing system put in, it’s nothing but problems. With trained and experience plumbers installing the systems, we can guarantee the system is right when it’s installed. That’s a lot of peace of mind for owners.”
“That applies to every trade in the program,” pointed out St. Louis Building Trades Council Executive Secretary-Treasurer John Stiffler.
“The training of St. Louis trades is second to none in America. And that means every craft provides real value and assurance to the homeowner that they’ll have a quality built home that will last. When people are making an investment of this nature, they want to make sure it’s the best. And our trades men and women ensure that quality all day, every day!”
NEW GENERATION OF HOME BUYERS
“We see this as not only a way to stimulate home buying, but to introduce another generation of home owners to the enduring value of our electrical and communications work,” said Frank Jacobs, business manager, IBEW Local 1, who, with the St. Louis Chapter of the National Electrical Contractors Association are supporting the program though their Electrical Connection partnership.
“Beyond helping people entering the home buying market who otherwise would not be able to afford a new home, the program is all about showing that good paying union jobs lead to more people buying homes and stimulating the economy as a whole, “ said Al Bond, executive secretary-treasurer of St. Louis-Kansas City Carpenters Regional Council. “The name of the program says it all ‘Neighborhoods Built by your Neighbors’.”
“Our local unions are truly putting their money where their mouth is when it comes to keeping people working,” said Ken Kruse, president of Payne Family Homes. “They have committed nearly $1 million in cash for use at closing. That really says a lot.”
Contributions by each union into the overall program depend on the hours each union has in a home.
You can learn more about the program by visiting STLunionhomebuilders.com.
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