The Ferry Crossing development in Old Saybrook is a16-unit Mixed Income Development with one, two and three-bedroom town homes and garden apartments.
This HOPE project was completed and leased in June 2012
The Benefits of Affordable Housing Are Many
Not only does affordable workforce housing change the lives of its residents, the benefits are passed along to the community in significant ways. It revitalizes distressed neighborhoods and promotes economic and social integration while building community.
The Ferry Crossing development in Old Saybrook illustrates that a partnership among local government, non-profit housing developers, community leaders and private financial institutions can create an attractive, affordable housing development that not only serves residents, but are an asset to the broader community.
The Broader Benefits of Affordable Housing
In addition to helping residents, today’s affordable housing benefits the wider community in significant ways, including:
Providing housing for the local workforce, especially lower wage earners
Revitalizing distressed areas
Directing economic benefits to the local community, such as increased jobs and sales taxes
Promoting economic and social integration while building community
HOPE Partnership’s AHOP Program assists individuals and families of modest income with the purchase of an affordable single family home, with total housing costs that will not exceed 30% of your total family income. Based upon affordability guidelines for income, a family could potentially qualify for a first mortgage of up to $300,000 toward purchase of a home.
Could you or your family qualify? HOPE Partnership is prepared to help you find out.
HOPE Partnership’s staff and volunteers are working to identify and acquire single family homes that can be sold to a qualified individual or family who meets the income and credit criteria for ownership of affordable housing. HOPE will work with the qualified individual or family toward the goal of obtaining an affordable home.
AHOP has relationships with local financial institutions to assist home buyers with:
Home buyer education classes
1st time home buyer mortgage programs
Down payment assistance programs for affordable homes
ARE YOU A DEVELOPER?
Give HOPE, Get Involved
For additional information or to speak with someone at HOPE about a potential project, contact Lauren Ashe, Executive Director:
firstname.lastname@example.org or 860-388-9513