Agency wants to help with downpayments
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- November
- 30
Community Housing Innovations Inc, a White Plains nonprofit agency, wants to distribute $600,000 this month to help qualified first-time homebuyers make their downpayments.
The agency said the slump in the housing market has created buying opportunities for folks who have not owned their own homes in the past.
The agency, which calls itself Westchester County’s largest provider of downpayment assistance, is offering grants of $25,000 to first-time homebuyers interested in purchasing a renovated cooperative at The Quincy Park Avenue in Mount Vernon.
“Our goal is to create opportunities that will enable low to moderate income families to purchase homes,� Alexander Roberts, the executive director of Community Housing Innovations, said in a statement released by the agency. “Pricing at The Quincy Park Avenue is at a level that is very much in reach. Our grants provide the extra boost that can make the dream of home ownership a reality.�
The Cheshire Group, a Manhattan-based real estate investment company, bought co-ops in the building and is renovating the homes with the intention of selling them. Studios start at $83,700, one-bedrooms at $133,650 and two-bedrooms at $204,300.
A family of four with an income of $77,200 or less can qualify for a grant. The grants are available for other properties as well.
Community Housing Innovations will hold a seminar on the program Saturday at 10 a.m. at 11 Park Ave. in Mount Vernon. Another seminar is scheduled for Dec. 11 from 6:30 p.m. to 8 p.m. at the Yonkers Riverfront Library. To make reservations or get more information on the Yonkers event, call 914-683-1010.
This entry was posted
on Friday, November 30th, 2007 at 6:43 pm by Allan Drury.
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Category: Housing market
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