Suter St. Housing Development Gives a Hand Up to Two Local Families
Central Valley Habitat for Humanity and PDY, LLC. have partnered together to address the need for affordable housing in Harrisonburg. What is currently a few large piles of dirt will eventually become 21 homes for families in need. This project is unique in that we are a nonprofit who is partnering with a private developer because we both have the same mission – to create affordable options for housing. Habitat’s 11 homes will follow the traditional Habitat model. We will use volunteers, grants, and other funding sources to keep construction costs down and sell the homes to families who are below 60% of the AMI (Area Median Income). Our partnerships with construction companies and volunteers in the community allow us to provide homes at 35% below the appraisal rate. We also provide the mortgage at no interest. PDY, LLC. is providing 10 of the units, and they will be a mix of homes for sale and homes to rent. The homes for sale will be in the bottom of the market for housing in our area. PDY is also working with the Harrisonburg Redevelopment and Housing Authority and the Housing Choice Voucher program to make sure rental options are available to families in need.
Habitat typically buys one or two lots at a time and then builds single-family homes or duplexes on that lot. Our impact with those projects is great and serves families well. However, a model like this, where we can serve 11 families in a more streamlined and effective way can have an even bigger impact. The builds are happening right next to each other, and progress can move along more quickly. Opening 11 units to the families we work with can, in turn, help to alleviate some pressure on the rental market in Harrisonburg. These new 11 families will have stable, affordable housing. They will contribute to real estate taxes. They will have some room in their budget to spend money elsewhere or save for their family's future. The project at Suter Street is an exciting one. We are looking forward to doing our model on a bigger scale and serving more families than we have before.
