The AAH Program

[Richard Stone]

Afford-a-home builds homes for people who are not poor enough to be eligible for existing affordable home purchase assistance programs and not rich enough to afford market rate housing. Where possible AAH will acquire properties and groups of properties in close proximity to each other, building clusters of homes, and by so doing, contribute greatly to the revitalization of the areas. The homes we build will have appealing front yards, back yards and side yards, porches and decks and off-street parking.

AAH tries to target neighborhoods that are exhibiting physical deterioration and decline in overall community well being, and then restore them, systematically re-establishing neighborhoods house by house, block by block. The physical, social and economic restoration is transformative for the entire community.

The increased vitality of the neighborhood brings more businesses that are interested in having a presence there. This in turn brings opportunities for employment for the local residents and improves the financial standing of the community. The construction process itself creates local jobs, encourages local purchases, and the improvement inspires neighboring owners and business to do the same.

The injection of this new vitality makes a lasting change in the attitudes and community responsibility of residents. Individuals are empowered to take control of their communities to effect long lasting change and improved quality of life.

 

                                                                                     

Operational Plan

The need is enormous. Vast portions of the city are in deplorable condition and in desperate need of revitalization, renewal and even replacement.
As skilled builders with years of experience and success in the construction of affordable housing and neighborhood revitalization, we believe that we are uniquely qualified to undertake this task.

 

Successful Construction Project Management of the North Albany Revitalization Project and a substantial portion of the South End Revitalization Project have given us rare insights and unusual strengths and competencies that few others possess to build efficiently and affordably in this environment. We believe the product of our already extant efforts is evidence of the potential benefit of our new home building plan.

 

We currently have two properties on Sligo Street in Albany given to us by Albany County and a home buyer. We are seeking the construction finance.

 

Products and Services

Home Description:

The planned homes are aesthetically pleasing, normally in the 1200 to 1400 square foot range, usually two stories, but there are no design restrictions. Front porches and rear decks are common. The average home is three bedroom, two full baths, and full basement. The homes are energy efficient meeting and surpassing Energy Star standards and are constructed in close compliance with LEED principles. They generally have Superior Wall foundations and Structurally Insulated (SIPS) Panel exterior walls and roofs.

Afford-A-Home directs all building and construction functions, including design, permitting, document development for conformance with local and regional compliance, schedules, purchasing, materials and labor cost management, coordinating and scheduling suppliers and sub-contractors and where available donations and volunteers.

Our projected construction cost for a 1400 sq ft completed three bedroom home is approximately $110,000 earmarked for the most depressed areas, construction cost and selling price is approximately $140,000 (See Appendix B, Pg.12). Comparable homes on the real estate market cost much more money, which excludes many from home ownership. We are building to make it possible for people in the income bracket we seek to serve to comfortably afford a home. AAH thinks the overall effect is inclusive and positive.

In an effort to further insure our home’s affordability, Afford-a-home has met with SONY MA lenders and who will offer our buyers lower interest mortgages, which, when combined with the low home sale price will make carrying costs affordable.

City and County leaders are familiar with the work that some of us have done in the past with Capital District Habitat for Humanity.

Based on initial conversations, like Habitat, AAH has been offered assistance from the city and county in the form of available foreclosed land donations to carry out what AAH believes is a very beneficial objective.