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Archives for Housing

HOME Strategies in Small Communities: Big Impact with Little Funding

by Amy Sackman Odum (Director of Community Development, City of Lima Ohio), Guest Contributor

limatrust What can you do with $257,989 in housing funds? In most Ohio markets, it may buy a comfortable home.  In Lima, Ohio, it runs an entire housing program! The City of Lima is the third smallest HOME Investment Partnerships Program (HOME) entitlement community in Ohio. Yet, Lima is attracting attention with the announcement of a 15 million-dollar historic bank building renovation, which will produce 47 apartments and 3 floors of office and retail.  Ten of the apartment units will be market rate. This project is in addition to running a popular housing down payment assistance program and providing home repair loans. How can so little funding produce so much? Several strategies are needed for big results, and to make local needs mesh with limited resources and daunting regulatory requirements.

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“Deconstructing” the building blocks of Country Club Townhomes: Collaboration, Creative financing, Patience and Perseverance

By Geri Campos Lopez (HCED Consulting, LLC), Guest Contributor

Country Club Townhomes, a 31-unit mixed income community, was constructed amidst incredible challenges during the Great recession. Yet with strong collaborators, creative financing, patience, and perseverance, this project was able to bring high quality homeownership construction and design to a blighted neighborhood. This project also infused a public and private investment of $6.5 million as a booster shot to the local economy when it was most needed. This article will “deconstruct” the elements that contributed to the success of this catalytic project, and detail lessons learned which may apply to your community.

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Is Scattered Site Rental Development a Good Strategy for You?

By Doug Harsany

Scattered site rental development is considered to be one of the most difficult housing strategies to implement successfully. Why is it so difficult to execute effectively? Why are some organizations successfully producing and managing scattered site units despite this difficulty? Is scattered site rental development (SSR), which is the development and management of individual single family homes at various addresses dispersed across a community, a viable alternative for you? In the paragraphs to follow, I will outline a few of the more prominent challenges associated with SSR and provide circumstances that could position your organization to effectively maneuver through the difficulty described. I will also explain why this housing strategy may be a good fit for some organizations.

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