Funding recipients chosen for Wayne County Housing Accelerator Program
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
In January, the Economic Development Corp. of Wayne County launched the Housing Accelerator Program with the goal of giving housing developers an incentive to finish the buildout of existing, but incomplete subdivisions.
The EDC this week announced five subdivisions that will share in $820,000 in funding from the program.
“These areas require minimal zoning and subdivision approvals and infrastructure extensions to complete the subdivision or initiate the next phase, allowing for faster construction timelines and reduced development costs,” EDC Economic Development Manager Sarah Mitchell said in a news release.
The grants, each of which is up to $250,000, will be used to help cover public infrastructure costs, such as the buildout of public streets, roads, sidewalks and utilities in the neighborhoods.
The development projects were selected out of nine applications received by the EDC. The funding will support a total of $26 million in investment to build 82 new single-family homes in Centerville, Cambridge City and Richmond.
The projects include:
Meers Estates – Unincorporated north of Cambridge City
- 17 single family homes
- Lots approximately 15,000 square feet with proposed asking price of $30,000
- Homes built on lotsrange in size from 1,200 to 2,000 square feet with proposed asking price between $280,000 to $325,000
Willowbrook Place – Centerville
- 24 single family homes
- Lots approximately 12,000 square feet with proposed asking price of $30,000
- Homes built on lots range in size from 1,300 to 2,000 square feet with proposed asking price between $280,000 to $325,000
Garwood Acres – Richmond
- 6 single family homes
- Lots approximately 17,000 square feet with proposed asking price of up to $50,000
- Homes ranging in size from 2,000 to 3,000 square feet with proposed asking price up to $450,000
Sandbridge Hills – Richmond
- 15 single family homes
- Lots approximately 15,000 square feet with proposed asking price up to $55,000
- Homes ranging in size from 1,500 to 3,500 square feet with proposed asking price between $250,000 to $450,000
Hidden Valley – Richmond
- 20 single family homes
- Lots approximately 14,000 square feet with asking price of $37,500
- Homes built range from 1,500 to 2,500 square feet with proposed asking price between $350,000 to $450,000.
“Wayne County’s Housing Accelerator Program impacts not just Richmond but all communities, with developments in Western Wayne and Centerville, ensuring that several areas within the county benefits,” said Wayne County Commissioner Brad Dwenger. “With 82 homes, our program ensures the availability of move-up homes, crucial for keeping the real estate market active and vibrant across Wayne County.”
You can find more information about the Housing Accelerator Program by clicking here.