Wednesday, August 6, 2008

Hill District Breaks Ground on New Homes

Thirty-two new homes are going up in the middle Hill District. Groundbreaking for the first four homes took place today at the corner of Wylie Avenue and Chauncey Street. Those homes are expected to be ready in the spring. Prices will range from $131,000 to $179,000. Deferred second mortgages will be available to help low-income buyers. The other 28 homes in the development will be scattered around the middle Hill.

The project is a collaboration between Jaxon Development Company and the Macedonia Development Corporation, which was formed at the Hill's Macedonia Baptist Church. Macedonia Development Corporation Board member Carol Foster Allen says church members saw a need for affordable housing in the middle Hill at a time developments were flourishing in the lower and upper Hill. Allen also works for Northwood Realty, which will be marketing the homes. She does not think the recent foreclosure crisis or economic downturn will hinder sales. Allen says "location, location, location" is still important to buyers and that the Hill is only a 15-20 minute trip to just about anywhere in the city.

No comments: