Let’s make College Park a top-20 University Community and let CPCUP’s Homeownership Program help you.
The College Park City-University Partnership is the nonprofit, local development corporation jointly supported by the University of Maryland and the City of College Park that is currently working to implement the University District Vision 2020 – to make College Park a top-20 university community by 2020. This work includes implementing initiatives within five key strategy areas – Revitalization and Redevelopment, Education, Transportation, Public Safety and Sustainability.
In 2015, the Partnership launched the Homeownership Program in an effort to encourage more people to live near their work, thereby improving the local economy, stabilizing neighborhoods and reducing commutes. The program provides $15,000 in down payment and closing cost assistance, structured as a 10-year forgivable loan, to full-time, benefits-eligible employees of the University of Maryland and to full-time City of College Park employees purchasing a home in College Park. The home must be their permanent residence.
Since the program’s initiation in summer 2015, 19 homes have been purchased through the program. The program has been so successful that it was recognized by the Community Development Network of Maryland, which awarded it their statewide Impact Award.
Each house that has been purchased by a University or City employee represents a home that is owner-occupied and contributes to neighborhood stability – adding to the City’s economy, increasing the local retail market, and improving commuting patterns. Each university employee living in College Park has more opportunities to participate fully in the University and its community and becomes an ambassador to their colleagues who are considering living in our community.
Last updated: March 31, 2017