Teaming with entrepreneur James T. Webb, the 62-year-old singer is using his Gooding Development Co. to renovate and redevelop houses across America, and then sell them to underprivileged people at an affordable cost, Gooding said in a news release.
"Our goal is to keep properties affordable so that inner-city families can share in the pride of owning their own homes," Gooding said. "Because of 'redlining' and high 'predatory' interest rates, many families in inner-city America are denied the opportunity to have a house to call home. We want to change that."
The project focuses on communities in such states as North Carolina and Louisiana.
Gooding said that in addition to providing homes, the enterprise is intended to promote economic development and offer troubled individuals a chance at employment.