HII Breaks Ground for 22nd Habitat for Humanity Home Sponsored by Newport News Shipbuilding
HII's Newport News Shipbuilding (NNS) division has initiated the construction of the 22nd Habitat for Humanity home in Newport News, Virginia. This milestone was celebrated with a groundbreaking ceremony attended by community leaders and officials. David Horne, NNS's vice president of trades, is the sponsor for the home, which honors the late Jim Cochran, a dedicated shipbuilder and volunteer. The 1,200-square-foot house will be built in the Southeast community on land donated by the Newport News Redevelopment and Housing Authority. Habitat for Humanity's CEO, Janet V. Green, emphasized the importance of affordable housing and the impact of their partnership with NNS. The selected homebuyer, Latesha, a mother of five, will contribute 400 hours of work towards the build and purchase the home with a no-interest mortgage.
- Start of construction for the 22nd Habitat for Humanity home sponsored by Newport News Shipbuilding.
- David Horne, VP of trades, acts as the sponsor for the new home build.
- The home will honor Jim Cochran, a dedicated shipbuilder and longtime volunteer.
- The 1,200-square-foot house will be built on donated land from Newport News Redevelopment and Housing Authority.
- Selected homebuyer, Latesha, will benefit from a 30-year, no-interest mortgage, supporting Habitat for Humanity's mission.
- No direct financial or business-related data presented in the PR regarding the impact on HII's stock or financial performance.
- Lack of information on the costs incurred by HII for this project.
- No mention of potential or projected returns on investment for shareholders.
NEWPORT NEWS, Va., May 29, 2024 (GLOBE NEWSWIRE) -- HII’s (NYSE: HII) Newport News Shipbuilding division joined elected officials and community leaders today at a groundbreaking ceremony for the 22nd Habitat for Humanity home sponsored by the shipyard since 2002.
The groundbreaking marks the start of construction on the home, which shipyard volunteers are joining forces with Habitat for Humanity Peninsula and Greater Williamsburg to build. In keeping with shipbuilding heritage, NNS designates a “sponsor” for each home. David Horne, vice president of trades, is the sponsor for the 22nd home.
“Construction is a science and an art, whether you’re building a ship or a house,” Horne said. “The tools and materials may be a little different, but the builders’ dedication and pride is the same. Our shipbuilders are proud to support our Navy sailors and we’re proud to build this home.”
Horne also recognized the family of the late Jim Cochran in attendance at the groundbreaking. Cochran, a retired shipbuilder who dedicated more than 40 years to the shipyard, was a longtime Habitat for Humanity volunteer. NNS is dedicating the build of the home in his memory.
The three-bedroom, 1,200-square-foot home will take shape in the Southeast community of Newport News on land donated by the Newport News Redevelopment and Housing Authority.
Photos accompanying this release are available at: https://hii.com/news/hii-breaks-ground-for-22nd-habitat-for-humanity-home-sponsored-by-newport-news-shipbuilding/
“At a time when the demand for affordable housing is greater than ever, we couldn’t be more thrilled to start construction on this home,” said Janet V. Green, CEO of Habitat for Humanity Peninsula and Greater Williamsburg. “Through the unwavering support of Newport News Shipbuilding, we’ve changed countless lives since this partnership began.”
Latesha, a mother of five daughters who is currently working on her master’s degree, has been selected as the homebuyer by Habitat for Humanity. She will be required to maintain steady employment and good credit and provide 400 hours of “sweat equity” to help build the home. Once construction is complete, she will purchase the home from Habitat with a 30-year, no-interest mortgage, which illustrates Habitat’s objective to give families a “hand up” rather than a “hand out.” The payments will cycle back into the community so more homes can be built for qualifying families.
Habitat for Humanity Peninsula and Greater Williamsburg is a non-profit organization serving the cities of Hampton, Newport News, Poquoson and Williamsburg and the counties of Charles City, James City, New Kent and York. For more information, visit www.HabitatPGW.org.
About HII
HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong. For more information, visit:
- HII on the web: https://www.HII.com/
- HII on Facebook: https://www.facebook.com/TeamHII
- HII on X: https://www.twitter.com/WeAreHII
- HII on Instagram: https://www.instagram.com/WeAreHII
Contact:
Todd Corillo
Todd.T.Corillo@hii-co.com
(757) 688-3220
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2760003-4687-4cec-adf9-1802e4937c6b
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