Turning the Tide on Affordable Housing

The Anderson Homes Foundation’s ‘My First Home’ initiative opens doors for first-time homeowners

At one point, the “American Dream” was epitomized by a specific image: the financially stable nuclear family living behind a white picket fence in a suburban home with a well-manicured lawn. The United States has long promoted that dream as attainable through hard work, sacrifice, and risk-taking. 

Today, we not only recognize that families come in diverse forms, but that homeownership is more of a privilege than a universal reality. Systemic barriers — such as limited access to education, discrimination, and, most palpably, the rising cost of housing — continue to stand in the way for many.  

Combating Columbia’s Crisis 

Columbia is just one of many cities grappling with a housing crisis. While community members have discussed the issue and proposed various ideas at length, few concrete solutions have been successfully implemented to tackle the problem. 

That prompted the formation and mission of the Anderson Homes Foundation (AHF), which Russ Anderson and Mark Briley of Anderson Homes co-founded. With Anderson’s background in home building, Briley’s experience in ministry and community engagement, and their shared passion for helping under-resourced families, they were already halfway there.  

“We were passionate about starting the Foundation, though we didn’t know what form it would take,” said Briley, who also serves as president. 

Anderson and Briley were invited to an Affordable Housing Coalition Meeting in May 2023 at Love Columbia, where it was revealed that twenty-seven families had been certified and approved for first-time homeownership. Still, only one home in the area met the cost criteria for those families in Columbia’s market.  

“They wanted homebuilders at that meeting so we could talk about what that looks like,” Briley added. “Russ and I shared our passion for helping low-income families achieve their dream of homeownership, and we got a call the next day from somebody who was at the meeting who said, ‘There’s all these ideas to address affordable housing, and it seems like nothing ever happens. But the stuff you were talking about — is that something we could do?’” 

From that conversation, the “My First Home” initiative was born.  

How the Initiative Works 

AHF has partnered with Love Columbia, another local nonprofit, to bring the “My First Home” initiative to fruition. AHF’s contribution to the partnership involves leveraging Anderson Homes’ reputation and influence to scout and secure property, donate human and financial resources for building each home, and secure additional support from local vendors and construction partners to lower the overall sales price of each house. Love Columbia focuses on using its connections with the city of Columbia and Boone County to reduce barriers in the building process, coaching and certifying families to become candidates for the initiative, and promoting ongoing life coaching and financial literacy for homeowners. 

The two partners are also supported by sponsors — generous donors who either pay for the build in cash or through loans and are reimbursed in full when the home is built and purchased by AHF — and by the occasional surprise helping hand. For instance, a realtor recently volunteered their time to assist new families in getting settled and connected with essential homebuyer resources like utility companies. 

Once sponsors sell the homes to AHF, families purchase the homes from the Foundation. From there, the only contract stipulations at the point of sale include AHF being the lien holder of the property for five years. If the homeowner chooses or needs to sell before the end of the five-year lien period, the Foundation has the option to purchase the home for the original purchase price. 

After the lien period concludes, the homeowner becomes the sole owner of the property, fully responsible for the remainder of the loan, and the full beneficiary of the home’s equity. 

While the initiative’s primary goal is to help families find and settle into affordable housing, its broader aim is to foster long-term financial stability.  

“Studies have shown that homeownership creates stability for folks generationally speaking,” Briley explained. “[With renting] there’s never any accumulation of resources for a family, so homeownership starts that track. It allows them to stay put longer in one spot, and when you’re in one spot longer, your job tends to be more steady and sustainable.” 

Challenges and Goals 

The Foundation’s most significant challenge is securing enough affordable properties for development and ensuring sufficient sponsorship to fund the houses. That is especially difficult given the ambitious goal of constructing twenty homes per year. Briley estimated that reaching that target would inject approximately $1.4 million in equity into low-income families’ households each year in Columbia. 

To address the challenges, the Foundation is committed to broadening its outreach to raise awareness about sponsorship opportunities. Securing funding is crucial to increasing the number of homes built.  

Additionally, the Foundation aims to create mixed-housing neighborhoods, recognizing that diverse communities foster greater strength and upward mobility. 

“All sociological research indicates that the more you diversify a community, the stronger it becomes, promoting upward mobility,” Briley explained. The co-founders aspire to provide families with opportunities to connect and build a supportive community. 

Through the “My First Home” initiative, the Foundation is not only helping families achieve homeownership but also laying the groundwork for a more inclusive and resilient Columbia. By bringing together families, sponsors, and community leaders, AHF is turning the vision of affordable housing into a lasting reality. With continued community support, the initiative can grow and help achieve the affordable housing goal of ensuring that no family is left behind. 

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Anderson Homes Foundation

Founded: 2023 (granted nonprofit status)

Mission: We’re not just building homes, we’re building community.

Sponsors

• Mike and Rockie Alden 
• Eli and Lindsey Drinkwitz 
• Brian and Cynthia Gardner 
• Blair and Melissa Murphy 
• Love Columbia 
• David and Lori Atkins 

Partners

• ABC Supply 
• AireSolutions 
• Bell Bank 
• FHC Ready Mix – East 
• Johnston Paint and Decorating 
• Kretch’s Custom Exteriors 
• Mid-City Lumber 
• SEB Fencing 
• Straight Line Striping