NEW HAVEN — For years, Ashley Bailey, a 32-year-old New Haven native, has loved the idea of someday buying and living in her own home — and of building wealth over time and someday passing that on to her daughter, London Rogers, now 13.
What she didn't know when she first got involved with Neighborhood Housing Services of New Haven was that the beautiful, historic home on Howard Avenue in the Hill section that NHS eventually would fix up and help her buy actually was the same house she lived in for a few months when she was just a few months old.
But amazingly, her dream of buying it has now come true — and the house, which stood vacant for decades in between, has been totally restored to its former beauty in advance of her moving in.
On Tuesday, Bailey was introduced as the formerly long-vacant and abandoned house's new owner at a ribbon-cutting, where she was joined not only by NHS officials but Mayor Justin Elicker, U.S. Sen. Richard Blumenthal, D-Conn. and her father, David Bailey, 56 — who as a young man of 23 rented an apartment in the house with his father.
Ashley Bailey, who was too young at the time to remember living in the house, quickly found out about the connection — just as soon as she told her father and stepmother, Sherry Bailey.
"I mentioned it to my dad and they told me, 'That's the house that we lived in when you were a baby,'" Ashley Bailey explained as friends, NHS staffers and city officials toured the house, which Ashley will live in on one floor and rent apartments on the other two floors to tenants.
How does she feel about it?
"I feel accomplished," said Bailey, who grew up in New Haven, living mostly in the Dwight neighborhood, and now works in retail for Yale University. "This is like a long-time dream for me."
What she has learned along the way is, "I think it's important to instill in your kids the importance of owning things ... especially in the African American community."
David and Sherry Bailey, who now live in Oxon Hill in Prince George's County, Md., are proud of what Ashley has done — and knew immediately which house she was hoping to buy, just as soon as she told them the address: 470 Howard Ave.
"She's been trying to buy this house" for several years, said David Bailey, who was about 23 years old when he moved into an apartment in the house with his father, the late Walter Timothy Bailey II, a World War II veteran who in 2011 laid a wreath during a Veterans Day ceremoney at the World War II Memorial Freedom Wall in Washington D.C.
Just as amazingly, longtime Neighborhood Housing Services Executive Director Jim Paley said this isn't the first time someone working through NHS has bought a house they lived in as a child.
That also happened about six or seven years ago with a house on Sherman Avenue, Paley said.
The house Ashley Bailey bought on Howard Avenue, built in the early 19th Century, was a vacant and abandoned former rooming house for more than two decades before NHS, via general contractor Anthony Micarelli, began fixing it up.
It wasn't cheap. It took a total of about $1.3 million, much of it from grant funds, including from the Connecticut Housing Finance Authority, NeighborWorks America, HOME Investment Partnerships and federal Department of Housing and Urban Development Community Development Block Grant funds distributed through the city, officials said.
Bailey bought it for $350,000, using forgivable loans, low-interest loans, zero-interest loans and other forms of down payment assistance. As part of the process, she took advantage of free NHS homebuyer education courses — and received a total of $94,250 toward down payment and closing costs.
"Obviously, the purchase price was only a small portion of the cost," said Paley.
Projects like this one are important, however, because "we need homeownership to be able to balance out and provide stability" in neighborhoods where many houses these days are bought up by large corporate landlords, Paley said.
NHS also helped a woman who lives next door buy her houses more than three decades ago, and almost 31 years later, she still owns and lives in it, he said.
Keith Getter of NeighborWorks America, NHS' parent company, congratulated Ashley Bailey and her family and said, "It is an honor to be here ... We believe that every person deserves a healthy and safe place to live."
But "let's remember that the true value of this building is as a home, not just as numbers," Getter said.
Other speakers included Blumenthal, Elicker, Kathleen Amonte of the Federal Home Loan Bank of Boston, Robert Michalik of CHFA and Bridgette Russell, managing director of the NHS HomeOwnership Center.
"This is a gorgeous place," said Michalik, who said Bailey will enjoy both new freedom and wealth-building in her new home.
Blumenthal said "it takes a team to do this fantastic kind of a project. It really is a monumental achievement for the team and the family ... Your first home — it's the American dream."
That said, "We're in a perfect storm. We're in a tough fight," where "homeownership is increasingly out of reach because of increasing national debt and other issues, including lingering discrimination, Blumenthal said.
Elicker congratulated both NHS and the family, telling NHS officials, "the city looks dramatically different because of what you do."
Projects like the one on Howard Avenue are "what generational wealth are all about," he said.
The house "is beautiful inside," after being "an eyesore on the neighborhood" for "at least 20 years, Elicker said.
Russell said that what NHS does "is not just about getting someone in a house. It's about positioning them to be successful," which is why things like budget and credit coaching are so important.