OUR HISTORY

What is now Compass Realty and Construction Group began in July 2015 as Affordable Housing Realty. Its community-minded focus was to subsidize low- and moderate-income families looking to buy their first homes with available funds from the U.S. Department of Housing and Urban Development. But the federal funding earmarked for the program grew smaller and smaller each year.

In an effort to secure more funding, we recently expanded our scope to include all residential homebuyers and builders, regardless of financial need. We changed our name to Compass Realty and Construction Group to reflect our expanded focus, and the staff was partnered with the existing Crawford-Sebastian Community Development Council to eliminate duplicate services.

Compass Realty now exists as a full-service real estate company and construction contractor for individuals in both Crawford and Sebastian counties. We employ full-time Realtors to assist clients with buying or selling existing homes and full-time project managers able to bid on any residential remodeling or building project.

But Compass Realty and Construction Group still retains that community-minded mission of helping the less advantaged. We still work with low- and moderate-income families in the Fort Smith region who need financial assistance to purchase their first home. Compass Realty helps these people cover the down payment and/or closing costs based on individual income level and need. Any profits Compass Realty earns on market-rate transactions are added to the federal funds available each year, so we are able to help more people in need within our community.

We have a unique story and a strong desire to assist people wishing to move into affordable housing. This drive helps revitalize entire neighborhoods and strengthen the economic engine of the Arkansas River valley region.

OUR MISSION STATEMENT

Compass Realty and Construction Group is a nonprofit subsidiary of the Fort Smith Housing Authority operating as a fully licensed and bonded Realtor and construction contractor. We help individuals looking to buy or sell a home, just like any other real estate agency. Our project managers work with clients hoping to remodel an existing home or build a new home from the ground up.

Where Compass Realty differs from other real estate agents and builders is our desire to help those less fortunate in our community. Any profits Compass Realty earns on full value or market-rate transactions are used to supplement government funding to pay closing costs and/or provide a down payment to help low- and moderate-income families buy their first homes. In the last 180 days, we have brokered about 12 real estate deals, half of those being affordable housing deals where financial assistance was provided.

This goal keeps the dream of home ownership achievable for a larger percentage of the population in Sebastian and Crawford counties. That in turn benefits all residents of both counties by keeping an increasing number of people in affordable housing, contributing mortgage dollars to the local economy, buying groceries, partaking in entertainment venues, adding to the local workforce and more.

FORT SMITH HOUSING AUTHORITY CONNECTION

Everyone at Compass Realty and Construction Group is an employee of the Fort Smith Housing Authority, which is a public, quasi-state agency. Members of the Fort Smith Housing Authority board of directors are approved by Fort Smith city leaders, but the Authority is not governed by the city. Compass Realty’s full-time Realtors also are members of the Fort Smith Board of Realtors and belong to the state and national boards of Realtors as well. Our project managers are fully licensed and bonded contractors within the state of Arkansas.

Fort Smith is an entitlement city, which means the city applies for federal Housing and Urban Development funding each year to assist low- and moderate-income families. These funds are available to cover closing costs and/or the down payment for first-time home buyers who meet the income guidelines for assistance.

Most buyers receive between $10,000 and $20,000, depending on individual need, to help make their dream home a reality. This is not a buffet mentality or over-subsidizing, however. Compass Realty operates within federal program guidelines to establish true need among its beneficiaries. In exchange for the assistance, the new homeowners agree to live in and maintain the property for a set time, continuing to contribute to the local economy.

Funding assistance is just one of the ways Compass Realty helps first-time home buyers. We also work to match clients with credit counselors, teaching them about creating and sticking to a budget and productive ways to use credit. We are helping to revitalize neighborhoods, by demolishing substandard housing and helping people construct better, more affordable substitutes.

Compass Realty and Construction Group also partners with and serves as the exclusive builder and real estate broker for the Crawford-Sebastian Community Development Council and its clients. This helps Compass Realty identify individuals in need of the housing assistance we offer. It also helps eliminate duplication of services between the two agencies.

Recently, we also have begun to work with residential buyers, sellers and builders on higher-end homes in Crawford and Sebastian counties. We average about 10 to 15 new affordable home construction projects each year. All profits made on market-rate transactions — those that do not rely on assistance programs for financing — are then funneled back into the available resources for low- and moderate-income clients.

This helps build a sense of community in our staff as well as those with whom we work. We all feel a sense of building up our cities and improving the quality of life in Sebastian and Crawford counties.