REACT Program - a partnership between NHS and Bridge Investments CDC
One of our “nuts and bolts” programs has always included reinvestment in our community. We help to stabilize property values by securing vacant properties, rehabilitating them for resale, and working with the next generation of buyers interested in making a neighborhood eyesore their dream home! NHS is partnering with many local representatives in an effort to address the vacant property issue in a holistic fashion. The primary focus is on vacant single family properties which can be made available for purchase in the $80—$100 range. This revitalizes a property and allows an affordable purchase options for buyers. Through partnership with Bridge Investments CDC, NHS is making rehabilitated vacant properties available for purchase, call the office to see if we may have a property that could be your dream home! NHS hopes to provide 6—8 rehabilitated homes for purchase in 2017!
1st Series of Vacant and Abandoned homes rehabilitated by REACT
Ø4 Properties Rehabilitated ØProperty is located in the census tract rated as having the highest vacancy rate in Davenport. (City of Davenport Housing Needs Assessment 2012) ØAccording to NAHB - Rehab investment secured $70,278.44 in property taxes and created 2.11 full time jobs ØLeverages $312,952 mortgage provided by local lender partners or NHS. ØIncreased value of property $206,140. One of our priorities at Neighborhood Housing Services is Neighborhood Revitalization. We acquire and secure vacant properties in your neighborhoods, and our Board determines a plan of action for rehabilitation and long term use. This activity helps to stabilize property values in the surrounding area and stimulates other investment.
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