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New Homes Help Spur Old Neighborhoods
The first new home built on a site where dilapidated housing was torn down in one of Sioux Falls' oldest neighborhoods went on the market in October. The open house in the Whittier Neighborhood marked the event, and Mayor Dave Munson gave his full support.
Through the collaborative efforts of the Sioux Falls Housing Corporation, the nonprofit arm of the Sioux Falls Housing Authority, and the City of Sioux Falls Community Development Office (http://www.siouxfalls.org/comdev/index.asp) resources were shared to make this new affordable housing project possible and to improve the Whittier Neighborhood. Using HOME and other program funds from the City of Sioux Falls, the Housing Corporation purchased six of the most dilapidated houses in a 10-block area. Most of the houses were beyond repair and had to be torn down, but now, new homes are being built on the old lots.
The first new home in this project is listed for $98,500, has 1,100 square feet, three bedrooms, and an unfinished basement with room for another bedroom and bath. It's a great opportunity for low-income families. A qualified family could purchase this home with a monthly payment as little as $800, using down payment and closing cost assistance from the City's Housing Assistance Payment program and a low-interest first-time homebuyer loan from the South Dakota Housing Development Authority (http://www.sdhda.org).
The Sioux Falls Housing Corporation also has five other properties in various stages of completion. Two more homes should go on the market by the end of the year. The goal is to build or rehabilitate 5 to 10 homes each year, and to expand this program into other older neighborhoods. The program is having a positive influence on other homeowners in the neighborhood. Since the start of this program, neighbors have begun to fix up their own homes, helping to revitalize this older part of the city.
For more information on this program or if you are interested in purchasing one of the homes being built, contact Shireen Ranschau at (605) 332-0704.
Content Archived: April 5, 2011