Creating access to homeownership with Convergence Memphis

Homeownership is a significant milestone in a person’s life, but for many first-time buyers – particularly those in Black and POC communities in Memphis – it can feel like an unattainable dream. That is why our partners at Convergence Memphis host events, like its upcoming Land Expo on Feb. 22, 2025, to come up with solutions to help bridge the gap in home accessibility and affordability for minority and low-income households in our community. 

At the Land Expo, landholders and property owners will showcase available lots within the city’s limits – space where we hope our partners in the industry can build and develop starter homes and other innovative, accessible housing options. 

Why host a Land Expo?

When real estate professionals join forces, they can pool their expertise, resources and networks to develop innovative approaches that help break down barriers to homeownership. Below are a few reasons why these partnerships are crucial. 

It addresses systemic issues.

The Land Expo not only showcases viable housing opportunities, it also helps spread awareness about the systemic issues that have historically made homeownership more difficult for Black and POC homebuyers. By collaborating with local experts, we can better target solutions and strategies to promote equity in the housing market. 

It expands access to resources.

By teaming up with local experts, like community development committees, investors, agents and mortgage lenders, we can better expand access to valuable resources like education, financial assistance, lending options and affordable housing. These resources are critical for first-time homebuyers to have a successful transaction. 

It fosters innovation.

Collaboration sparks innovation, like new ideas and approaches that can serve the needs of first-time homebuyers. By combining diverse perspectives and experiences, we can develop creative solutions to make homeownership more attainable. 

It helps strengthen our community. 

Homeownership has a positive ripple effect on the community – leading to increased stability, economic growth and overall well-being. By working together to support first-time homebuyers in underserved communities, we can contribute to the long-term success and prosperity of neighborhoods in Memphis and Shelby County. 

To learn more or get involved with Convergence Memphis, contact Kelbert Fagan at kfagan@uhinc.org.