Townhouse Development on 43rd Street Being Marketed to ODU and City Employees
Tired of that long commute to Old Dominion University?
Ground will be broken at 11 a.m. Thursday, March 11, on a 51-unit townhouse complex adjacent to the south end of the campus. University employees are eligible to purchase the affordable housing units, which are being built along 43rd Street between the fire station and Powhatan Avenue.
The workforce housing development, sponsored by ODU's Community Development Corporation (CDC), is also being marketed to teachers from Norfolk Public Schools as well as other city employees. The builder, HineTurner, is touting the green, EarthCraft Homes as offering lower utility and maintenance costs.
The two- and three-bedroom units will range in size from 1,200 to 2,200 square feet. The smaller, two-bedroom, one-car garage homes will have a starting cost of $190,000 to $200,000.
The location - next to campus and within walking distance of the University Village - is definitely a strong selling point, as is the price, said E. Ann Grandy, executive director of the ODU CDC. She added that the Virginia Housing Development Authority may provide down payment and closing cost assistance to qualified first-time homebuyers.
Model units are expected to be open by the end of June 2010, and the entire development should be completed by fall 2011. Grandy noted that the Hine Group and Turner Construction together have a combined reputation for delivering the best in luxury residential homes.
The ODU CDC was established in 2006. Its mission is to link its academic and research expertise and its financial commitment with the energy, resources and inspired commitment of neighborhood residents and businesses, with the goal of revitalizing local communities and improving the lives of their residents.
This article was posted on: March 1, 2010
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