5280 Magazine: Barbara Uruza
Up until a few months ago, Justin Murchison had no plans to buy a home—anytime soon, that is. Like many millennials, the 29-year-old was renting a home in Aurora with a couple of roommates. As a single, Black man who is “not making close to a million dollars,” as Murchison puts it, buying a home seemed inconceivable. Until the Dearfield Fund for Black Wealth stepped in.
Founded by Gary Community Ventures, a Denver-based philanthropic organization, the Dearfield Fund aims to help Black families and individuals buy a home in Denver’s frenzied real estate market. The fund, which was launched in September of 2021, has already helped more than 40 homebuyers purchase a home by giving each as much as $40,000 in down payment assistance. Gary Community Ventures aims to serve more than 450 homebuyers over the next three to five years, and has a 10-year goal to serve 1,000 Black families in Denver.