Ex-developer gives $100m to Habitat
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ATLANTA - The housing market may be sputtering, but Habitat for Humanity International is getting a $100 million gift from an Atlanta developer who said his work has offered him a look at the struggle of poor people to find decent housing.
The nonprofit group said yesterday it received the largest individual contribution in its history, an offering that will help Habitat build 60,000 homes.
The donation comes from J. Ronald Terwilliger, a former chief executive of Trammell Crow Residential Co. and a longtime member of Habitat's board.
Terwilliger said through his work with Habitat and in the private sector he's witnessed the depths of poverty, seeing people living in cardboard shacks, as well as the struggle for middle-class families to find affordable housing. "People need a decent, safe, clean residence where they can get a good night's sleep and families can be together," he said.
Habitat will use $30 million to fund an endowment to help build houses. The rest will set up a microfinance fund to help families around the world repair and improve their housing.
