Covington Housing Team Out with the old – In with the infill, infill, infill Demolish dilapidated housing – 5 houses demolished since February 2010 Build new, energy efficient affordable homes – 48 senior apartments and 12 senior townhomes permitted – groundbreaking this month Repair, extend and build new sidewalks – Over 1,000 feet of sidewalk repaired or extended
Walker’s Bend Redevelopment Covington, Georgia Mixed-use development: 233 dwellings & 15,000sf of office/commercial 80 dwellings built: 39 – owner occupied; 38 – investor rentals; 3 – REO 9 homes purchased with NSP funds and managed by Habitat for Humanity 134 vacant lots owned by eight different banks and the FDIC Covington Redevelopment Authority has purchased 62 vacant lots
Covington Housing Authority Transitional Housing Program – Household finance, budgeting and homeownership training classes – 6, 9, and 12 month programs in Walker’s Bend – Upon completion – down-payment assistance for purchase of new home in Walker’s Bend – Program planning and facility design beginning Fall 2010
Covington Redevelopment Authority Ground floor commercial/office/retail space – Offer affordable rents for business start-ups – Brings some of the daily needs of residents of Walker’s Bend within walking distance – hair salon; day care center; corner conv. store – Classroom space for CHA budgeting and home ownership programs – Shared community room for the neighborhood
Affordable Equity Partners The Village at Walker’s Bend – 32 three and four bedroom, single family homes ranging from 1,400 -1,500 square feet – 15 year rental program – rents based on income – Lease-purchase available after 15 years – Proven Georgia affordable housing provider
Market Rate For-Sale Homes Partnering with local home builders to contract- build new homes in Walker’s Bend Down payment assistance through the Georgia Department of Community Affairs Local bank financing with conventional contract- to-permanent mortgages Built to Earthcraft House Standards $75,000 - $95,000 targeted price-points