 |
|
August 2008 Highlights
|
||
|
The groundbreaking will occur at 5 Minerva Place in the city’s downtown at 10 am, as drilling begins on the first of eight wells for the geoexchange system, each 350 feet deep. The units will be developed, constructed and marketed by Community Housing Innovations, Inc., a White Plains-based nonprofit organization founded in 1991. According to Executive Director Alexander Roberts, “With the Mayor’s support, we set out to show that affordable housing could be built with the option of energy efficiency. With heating oil approaching $5 a gallon, energy efficiency is no longer an option.” In addition to geothermal heat pumps that use the constant temperature of the earth to heat and cool the building, Minerva Place Condominiums features energy-efficient construction techniques, insulation, plumbing and lighting upgrades that are projected to save homebuyers about 30% on energy costs compared to a typical new development.
All of the units will be affordable to families with incomes between 80% and 100% of Westchester County’s Area Median Income, which is between $73,000 and $91,000 for a family of three. The one-bedroom units are priced from $225,000 and the two-bedrooms $265,000. However, for families who qualify, CHI may provide up to $30,000 in down payment assistance from the New York State Housing Trust Fund. White Plains will contribute donated land and about $75,000 per unit in subsidy from its Affordable Housing Fund. The New York State Energy Research and Development Authority will provide about $55,000 to subsidize the energy-saving improvements. Unlike most affordable developments--which are limited to families earning under 80% of the Area Median Income—Minerva Place Condominiums will appeal to families with two wage earners, who are often disqualified. According to Mayor Delfino, “The Minerva Place condominiums appeal to families entering the home buyer market. In these difficult economic times, I am proud to say White Plains has options to elevate families into home ownership. The $265,000 condos will fill a critical workforce housing need.” Frank Zisa, CHI’s Director of Development overseeing the project said “It is a testament to the dedication of the city, our lender and construction professionals that we were able to move forward with a workforce housing project when it is needed most, especially in an environment of escalating construction costs and tighter lending." The City of White Plains Department of Planning is now taking applications on a first come, first serve basis, and will utilize a preference system for local police, firefighters, teachers and other municipal employees. However, all are welcome to apply for the condominiums, which will be ready for occupancy by early Spring. For an application, you may call 914-422-1264. The project architect is Warshauer Mellusi Warshauer Architects, P.C. The modular builder is Deluxe Building Systems, Inc. The lender is TD Bank, N.A.
CHI Offers Affordable 2-Family Houses Starting at $165,900! Community Housing Innovations, Inc., operated an emergency housing program for four years in Kingston, is now selling the two-family houses with $15,000 grants to qualified homebuyers. The price of the homes range from $179,900 to $209,900. However, the cost will be as low as $165,900 to income-qualified households. To qualify for the grant, a family may earn no more than 120% of the Ulster County Area Median Income, which is $79,000 a year. Starting in 2004, the Westchester-based nonprofit operated a program for emergency and affordable permanent housing for the Ulster County Department of Social Services. The agency had always promised to make the homes available for home ownership at the conclusion of the program. All of the houses have spacious two and three bedroom apartments. According to CHI Executive Director Alexander Roberts, “We had always promised to convert the homes to ownership and we are happy to honor our commitment.” The two-family homes are located on Girard Street, Tremper and Clifton Avenues. In addition to the $15,000 grant, which will be given in the form of a seller concession, CHI will provide free homebuyer counseling. For more information about the homes, you may call Margaret Stewart of Patti Conti Realty Group, LLC at 845-340-4480 ext. 103. See the story in the local press
CHI ANNOUNCES HOUSING LOTTERY FOR August 12, 2008. There is finally good news for homebuyers in the Hudson Valley area!
The new homes will be both Energy Star® and LEED Certified, offering homeowners a projected 30% savings on energy, improved indoor air quality, and reduced water consumption. LEED stands for Leadership in Energy and Environmental Design and is a prestigious designation conferred by the U.S. Green Buildings Council. The 10 townhouses, which would normally sell for $400,000 or more, are being offered to eligible families for $285,000. To qualify, however, families must earn less than $100,000 a year. At the end of the marketing period, all names of interested purchasers will be placed in a lottery and drawn by the Town Supervisor through a public lottery process. While the lottery features a preference system that awards extra points for volunteer firefighters, police officers, municipal workers, teachers, employees of the Garrison and Haldane School Districts, and Town of Philipstown residents, the lottery is open to all. "This is a wonderful opportunity for moderate income families to qualify for a beautiful home." said Alexander Roberts, Executive Director of Community Housing Innovations. "Given the escalating cost of fuel and the concern for our environment, having an energy efficient home is very important." The homes are built by Wilder Balter Partners, Inc., a leading developer and the Hudson Valley’s first community builder to commit to all LEED-Certified and Energy Star® construction. They will each feature 2-car garages, master bedroom suites with walk-in closets, and state-of-the-art kitchens. The Westchester-based builder is currently developing Barrett Hill in Southeast, Glassbury Court at Cold Spring in Philipstown, Glassbury Court at Hunterbrook in Yorktown, and Riverton in Upper Nyack. For more information, and a free application for the lottery, visit the Wilder Balter website at www.wbhomes.com or call 877-333-wbhomes. Applications will be accepted until September 1, 2008. To find out more about Community Housing Innovations, Inc., visit the organization’s website at www.chigrants.org or call (914) 683-1010 ext. 225.
CHI’s Roberts Calls for Required Homebuyer Education While applauding passage of the landmark federal foreclosure rescue bill, CHI Executive Director Alexander Roberts called for required counseling for first time homebuyers to forestall future issues.
|
||
|
If you know anyone else who could benefit from CHI programs, forward this e-mail to your friends. If you wish to be removed from this newsletter mailing list, please send an e-mail to unsubscribe@chigrants.org. Type "Remove from CHI Grants list" in the subject area of the message. Make sure the "from address" is the same one we sent the newsletter to. |
||
On Tuesday, August 19th, Community Housing Innovations, along with White Plains Mayor Joseph Delfino, will host the groundbreaking for the city’s latest affordable housing development—14 for-sale units called Minerva Place Condominiums. It is billed as the most energy-efficient residence in the city, featuring the city’s first GeoExchange system for heating and cooling. In fact, it is the first low-rise new construction project in Westchester County to meet all of the requirements of the New York Energy $mart Multifamily Performance Program guidelines.
The 14 units consist of 11 two-bedroom and three one-bedroom apartments with hardwood floors, Corian and granite countertops in the kitchen and cultured stone countertops in the bathrooms.
Community Housing Innovations announced today that it is administering a housing lottery, through which 10 qualified homebuyers will win the opportunity to purchase below-market townhouses at the brand new Quarry Pond Community, located on Route 9 in Cold Spring. The nonprofit agency was selected by the developer, Wilder Balter Partners, to manage the housing lottery, and has started to accept applications. The deadline to apply is September 1, 2008.
