APRIL 8, 2008 -- The American Homeownership Initiative (AHI), a newly formed non-profit organization that is launching a program to enable more people to purchase affordable homes, is teaming up with Verizon (search for Verizon) to give as many of these new homeowners as possible access to Verizon's fiber-optic FiOS (search for FiOS) services.
Per the agreement, Verizon will deploy its fiber-optic network to the single- and multi-family properties that AHI acquires and that are located in areas served by the network.
AHI and Ownermakers LLC, the initiative's co-founder and consulting management company, say they developed the program to help people who may not meet traditional home-buying requirements--like large down payments, credit history, or annual income-- purchase an apartment or home with a minimal down payment. The program will begin in Philadelphia and will be extended nationally over the next several years.
"Future AHI multi-family apartment residents will enjoy the amazing voice clarity, Internet speed, and tremendous reliability that Verizon FiOS provides," reports Eric Cevis, vice president of Verizon Enhanced Communities, the Verizon business organization that markets and sells communications services to single- and multiple-home properties. "Our alliance with AHI will help us expand the reach of FiOS to an even broader base of consumers representing diverse socio-economic backgrounds."
The plan to make Verizon FiOS services available at certain AHI properties in the future reflects the competitive advantage Verizon's fiber-to-the-premises (FTTP) network offers developers in marketing their properties, says Cevis.
"AHI plans to create 500,000 homeowners by the year 2014," notes AHI executive director Bill Stratton. "Once we have acquired a building, we will convert it into a 'smart,' 'green,' and affordable place. We know residents will appreciate our foresight in making available to them 'smart' communications services from Verizon, which will support their immediate and future technology needs."
After acquiring a rental property, AHI will also work with other companies such as Whirlpool and Lowes Home Improvement.
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