Check out this beautiful new two-family home on Whitman Street! This two-family was built through a partnership between Oxbow Urban and the Neighborhood Homes Initiative to create affordable home ownership opportunities for the middle-class.
The Neighborhood Homes Initiative uses city-owned land and will be selling approximately 250 parcels for new homes and will provide subsidies to developers to ensure that these homes are priced affordably.
So what exactly does “affordable mean?” It means homes will be priced between $250,000 – $400,000, and will be affordable to households with a combined income between $60,000 – $100,000. The affordable homes produced through the initiative have a 50-year resale restriction.
All of these homes will be produced using model home designs and have been pre-approved by the city’s Inspectional Services Department. These standardized building plans will help builders “create homes more efficiently and at lower cost without sacrificing quality.”
Interesting in learning more or applying for one? Visit here!