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Covington Housing Team Out with the old – In with the infill, infill, infill Demolish dilapidated housing – 5 houses demolished since February 2010 Build.

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Presentation on theme: "Covington Housing Team Out with the old – In with the infill, infill, infill Demolish dilapidated housing – 5 houses demolished since February 2010 Build."— Presentation transcript:

1 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

2 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

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9 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

10 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

11 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

12 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

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