ADR Rehabilitation
The ADR rehabilitation
program focuses on the acquisition and rehabilitation of
existing residences for re-sale in the target area. HDC
purchases existing homes in the target area that are in need of
repair, rehabilitates them in accordance with local and State
building codes, and then sells them in the local real estate
market.
A
homebuyer subsidy is available through the program, which can be
used for down payment assistance, closing costs, and buy down
affordability. The maximum homebuyer subsidy is $30,000 (down
payment and closing costs) for the rehabilitation program. An
additional $10,000 is available for costs related to lead
remediation (rehabilitation only) and there is a minimum of
$1,000 of homebuyer subsidy required per unit.
This is our first ADR Rehabilitation, it is
located at 415 Elkenburg. With new windows, roof and doors
this 3 bedroom, 1 1/2 bath home will be a great addition to the
neighborhood.
HPR Rehabilitation
is also available as an option:
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