Price Hill Homesteading Delehanty Court
Homesteading Program Provides Affordable Housing and Home Ownership
Port Authority Partners with Price Hill Will; Makes Home Ownership Reality for Price Hill Family
One year later, you might not see much of a difference on the outside of one local Price Hill home. But if you take a closer look, you can see the difference Price Hill Will and its Homesteading Program is making in the lives of families every day.
The dream of home ownership is often out of reach for many, who are simply trying to survive and find safe and affordable housing. That’s a challenge Price Hill Will hopes to tackle with its recently launched Homesteading Program, aimed to take previously uninhabitable homes in ill repair and bring them back to usable living space. How it works: Price Hill Will purchases homes in need of repair at minimal cost (sometimes donated) and sustainably and sensibly bring them back up to code and livable condition. Once the home is “family ready,” individuals may apply to purchase the home at an affordable cost. One of the primary requirements for potential homeowners is the ability and desire to continue to improve the home and complete repairs. Sweat equity is both recognized and rewarded as an important skillset for hardworking families.
“A key challenge for families struggling to find affordable housing is that homes that might be within reach as far as affordability, would never pass FHA approval or inspection. Hard working families are willing to put in sweat equity, but actual ownership is out of reach due to financial constraints,” said Ken Smith, Executive Director, Price Hill Will.
Through a combination of programs, Price Hill Will is investing in the families and neighborhoods of Price Hill to help low-to-moderate income families become homeowners. Sharing a common goal to transform communities for lasting impact, the Port (via the Hamilton County Landbank) was able to use its unique property acquisition tools to obtain one such home and in turn gave Price Hill Will the access to purchase the property for $1,000. The availability of the property on Delehanty Court initially came to the attention of the Port Authority housing team through the National Community Stabilization Trust (NCST), a non-profit organization. The Port Authority worked with Wells Fargo to obtain the property and, after a lengthy process to acquire a clear title, the Port Authority coordinated the closing with Wells Fargo, which donated the property and also made a financial donation to the Landbank programs.
PHW immediately went to work, replacing electrical, plumbing and all mechanical areas required to bring the home up to code and safe living conditions.
One year later, home ownership is a reality for a first generation American immigrant family. Their pride in ownership and continued investment in the community where they now live will only increase over time as they build on that first dream of owning a house, now turning it into a home… a warm and safe place to raise their seven children.
There are currently three families/homes in the program, and one home pending.
HOW WE HELPED:
Facilitated sale from bank via Land Bank, enabling Price Hill Will to take ownership and bring up to code.
"The Port Authority has been a great asset and partner in sharing our vision to improve communities and help make a positive and lasting impact on our neighborhoods."
Ken Smith, Executive Director, Price Hill Will