New London ― HOPE Inc.’s open house at 78 Belden St. Tuesday was double the celebration.

A single mother is closer to becoming a first-time homeowner and Executive Director Marilyn Graham’s work on Belden Street will now be noted by an honorary street sign.

Graham will soon retire after 34 years as executive director and the sole employee of HOPE Inc., an organization that restores old homes and sells them to low and moderate income families. She has been with HOPE since its inception in 1989 and has been at the forefront of renovations and construction at more than 30 homes across the city.

But Belden Street is HOPE’s “pride and joy” with 20 homes it has renovated or built on the street alone.

Mayor Michael Passero read aloud a city proclamation and surprised Graham with a sign that read “Marilyn Graham Way” which will be placed along Belden Street.

Everyone applauded and Graham stood in shock.

Graham said it was overwhelming and she didn’t know the city could do that. She thanked the city for its support with grants and helping HOPE start its efforts on Belden Street more than 20 years ago. She said the city gave HOPE the opportunity to acquire three houses on Belden Street that it had taken by foreclosure.

Graham also thanked the Connecticut Housing Finance Authority for providing the organization with state tax credits under the Housing Tax Credit Contribution Program to help finance its projects. She thanked Eversource for being HOPE’s main donor, investing $6 million in tax credits over the last 30 years.

Senator Martha Marx provided Graham with a citation from the state General Assembly. Marx said as a visiting nurse in the city she has witnessed the transformation of homes on Belden Street before and after HOPE renovated them.

Stacey Smith, who is set to replace Graham as executive director, said she is excited to follow Graham’s example and has much planned for the organization.

Smith said the land at 78 Belden St. was once an empty lot but now accommodates a two-family home. She said the homeowner will live on the first floor and will be able to rent the space above at 50% of the area median income. She said the home is deed-restricted to be affordable for the next 30 years.

Smith said the house is being sold to its buyer for $200,000.

Graham said said the most rewarding thing about open houses these past three decades has been knowing the homes are going to worthy families that will appreciate and take care of them. She said the home buyers must have good credit and low incomes.

Soon-to-be-homeowner Ivette Barinas said she moved to New London from the Dominican Republic when she was 17 and has lived in Groton for the past year.

“I’ve been trying to get a house for so long,” she said. “It took four years to find something I can afford.”

Barinas said she and her son are really grateful and can’t wait to start making memories in their new home. She said she is also looking forward to being a landlord with extra income, an added bonus for a single mother.

j.vazquez@theday.com