Cleveland Green Homes Help After Foreclosure Crisis

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

CLEVELAND– A community project is changing neighborhoods hit hard by the foreclosure crisis — one home at a time.

Cleveland city leaders helped dedicate a new home on Sebert Avenue on Thursday. A vacant lot was transformed into new affordable housing.

It is one of 40 Cleveland Green Homes developed by the Cleveland Housing Network and financed through low-income housing tax credits. “This is a new constructed home on land that was donated to us by the county land bank. It’s a reinvestment strategy,” Kate Monter Durban with the Cleveland Housing Network said.

It will be the new place that Ena Hill will call home. “This is a new opportunity for me. It opens up a door for me and my daughter to have a home that is safe and quality.”

Through the lease to purchase program, Hill will be given the opportunity to buy this home after fifteen years,  at an affordable price. “The resident will be a tenant for fifteen years and will help us take care of the home. And, at the end of 15 years’ time, will be able to purchase the home for about one third of its market value,” Monter Durban said.

It is a “green” home meaning it had to meet energy efficient standards. “All houses that are built and receive city support have to meet green building standards, which make the house more energy-efficient and makes it cost less to operate,” Daryl Rush, director of community development with the City of Cleveland, said.

These homes are being built in six targeted areas in Cleveland. There is an application and selection process involved for anyone interested in home ownership through the Cleveland Housing Network.

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

FOX 8 Cleveland Weather // Quick Links:

Hot on FOX 8

More Viral