Posted by Andrea Durway
Live Near Your Work Program 2024
The Live Near Your Work program provides select Washington University and BJC HealthCare employees with forgivable loans to help with the purchase of a home in select neighborhoods. Let’s delve into how this program is not just a solution to commuting woes but also a catalyst for community development and employee satisfaction.
The Essence of Live Near Your Work
At its core, the Live Near Your Work program aims to encourage employees to reside closer to their workplace, thereby reducing commute times and promoting a healthier work-life balance. This initiative offers various incentives to qualifying employees. The program provides down payment and/or closing cost assistance as an employee benefit for eligible Washington University and BJC HealthCare employees towards the purchase of a home within the approved eligibility area.
Property Highlight – 4550 Oakland Avenue
Discover your dream home in the Forest Park Southeast neighborhood, eligible for the Live Where You Work Program for BJC Employees. 4550 Oakland Avenue is a 3 bed, 2.5 bath home conveniently located near BJC campus, WashU School of Medicine, Cortex, The Grove, and easy access to Kingshighway and I-64/40. Priced at $449,900. MORE photos and online tour.
Funding Limits
The maximum amount of new forgivable loans to be issued during any fiscal year (July 1 – June 30), issued on a first-come, first-served basis, is $300,000 for Washington University employees, and $300,000 for BJC HealthCare employees, with the following adjustments:
- Loans for homes purchased in any neighborhood, including Forest Park Southeast, count toward the limit.
- Once the limit has been reached, loans may not continue to be made for homes purchased in eligible neighborhoods, municipalities, and/or zip codes except for Forest Park Southeast.
Important Notice Regarding Live Near Your Work
- There is still funding available for BJC Employees in 2024.
- Funding for WashU employees is not available until July 1, 2024.
- Please email at livenearyourwork@wustl.edu or call 314-747-2336 for details or if you have questions.
Eligible Neighborhoods
Homes that meet criteria from 13+ Neighborhoods are and 22 zip codes may be eligible.
Benefits Galore
Financial Incentives
Participants of the program may be eligible for financial assistance, including down payment assistance, forgivable loans, and even grants towards purchasing or renting a home in the designated areas near BJC.
Reduced Commute Stress
By living closer to work, employees can say goodbye to long commutes, traffic jams, and the associated stress. This not only improves their mental well-being but also allows for more time to engage in personal pursuits and family activities.
Environmental Impact
Shorter commutes translate to reduced carbon emissions and overall environmental impact. By promoting local residency, the Live Near Your Work program contributes to a greener and more sustainable community.
Community Building
Encouraging employees to live in the neighborhoods surrounding BJC fosters a stronger sense of community. This can lead to increased involvement in local events, support for small businesses, and overall neighborhood revitalization.
Looking Ahead
As the Live Near Your Work program continues to gain momentum, its impact extends beyond individual employees and employers. By fostering a symbiotic relationship between workplaces and surrounding neighborhoods, this initiative serves as a model for sustainable urban development and employee well-being.
In conclusion, the Live Near Your Work program near BJC in St. Louis stands as a shining example of how innovative solutions can address the challenges of modern urban living. By incentivizing local residency, the program not only benefits employees and employers but also contributes to the overall vibrancy and sustainability of the community. As other cities grapple with similar issues, they can look to initiatives like this for inspiration and guidance in creating a better, more connected future.
Would you consider participating in a program like this if it were available near your workplace? Are you interested in exploring this option? Schedule a call with a team member who has helped other home buyers participate in this program.
