GRAND RAPIDS, Mich. — If you've tried looking for a house lately, you've probably noticed how hard and expensive it is to buy a home.
In between Burton and Alger Heights sits an empty baseball park.
"This particular parcel came to us from the owners of the parcel wanted to see affordable housing being developed here in Grand Rapids," Dwelling Place Chief Executive Officer Jeremy Deroo told FOX 17.
Bethany Christian Services and Dwelling Place Land Trust are working to provide a 42-unit, single-family condominium site on these 5.5 acres.
"This is our first major project doing for-sale housing," Deroo said.
Dwelling Place already deals with affordable housing. They have rental properties around Grand Rapids, along with other locations like Muskegon Heights, Hesperia, and Holland.
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However, these new homes are for people to own.
"We anticipate being able to sell for about $160,000 or so," Deroo said.
They could look like a ranch or even have a two-story appeal.
Deroo says this will give new owners a chance to build equity. He says they have a built-in formula for buyers to keep the housing affordable for generations to come.
"In 10 years ago, to sell it and that house is worth $300,000 they would sell it for $175,000 to the next family. And that way, the homes stay affordable, and there's a permanent way for families of low- and moderate-income families to move into that neighborhood forever," Deroo said.
Dwelling Place is still raising money for this project. He says the plan is to have a shovel in the ground this fall with people moving in by 2023.
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