I wanted to help get the word out about this unique program available to the middle class in certain city neighborhoods through the nonprofit Healthy Neighborhoods that could give $6,000 toward closing or $25,000 grants to fix up an abandoned or foreclosed home or one that’s subject to a short sale.
Here’s the catch: You have to live in the home; it can’t be an investment property. But the income levels are much higher than many government programs. Individuals can qualify if they earn up to $71,900 a year. The cap for couples is $82,200 and $92,450 for a family of the three. The cap rises by about $10,000 for each additional family member.
I covered a recent event that promoted the program on Saturday. Here’s the article, if you wanted to read more about it.
The money for the grants comes to the nonprofit through federal stimulus dollars. The homes that qualify are in one of seven city neighborhoods. They are:Belair-Edison, Better Waverly, Coldstream Homestead Montebello, Ednor Gardens, Patterson Park/McElderry Park, Old Goucher and Reservoir Hill.
Contact Healthy Neighborhoods to find out information on the renovated homes they have available. The homes feature new energy-efficient upgrades, renovated kitchens, air conditioning, hardwood floors and front porches. I visited one of the homes, renovated by Healthy Neighborhood’s partner, St. Ambrose Housing Aid Center, at 3309 Shannon Drive. It was for sale for $125,000.
The updates were modest (no granite countertops or stainless steal appliances), but pretty and functional. The renovations worked around the home’s 1930s charm.
The government is trying to invest in these census-targeted communities, which the folks at Healthy Neighborhoods say are vibrant places to live that are close to parks, shopping, restaurants and transportation. Of course, you’ll have to decide for yourself.
The nonprofit organizers handed me a packet of information with pages and pages of these renovated homes for sale. The prices range between $80,000 and $250,000, although a few properties are listed for less. Go to the nonprofit's website for more information.