$839K in Grants Approved for Trumbull Housing Projects
WARREN, Ohio — Two housing initiatives in Trumbull County will receive additional grant support to create eight new affordable houses.
Trumbull County Land Bank and Trumbull Neighborhood Partnership received $839,926 from the Federal Home Loan Bank of Pittsburgh through it Affordable Housing Program, according to a release. The grants will help finance two separate housing efforts in the county, including renovation and new construction, creating eight new affordable homes.
Trumbull Neighborhood Partnership’s portion will fund rehabilitation of four currently vacant single-family houses that, when completed, will be sold at an average price of $36,250. This sale price ensures safe and affordable housing for very low- to moderate-income families in Warren, says Matt Martin, director of the partnership.
“We’re grateful for the funding and look forward to the opportunity to save four more vacant houses and create home ownership for our residents,” Martin says. Since 2013, the organization has rehabilitated 30 vacant properties.
The Trumbull County Land Bank is partnering with Cedar Avenue Homes to construct four single-family homes on currently blighted vacant land. All of the houses will be located in Niles.
The homes will be sold for $60,000 each, a significant reduction from the $98,000 fair market value of other homes in the area. Jason Altobelli of the Cedar Avenue Homes project looks forward to the collaboration.
“This project is a great collaborative effort to construct new affordable housing in The City of Niles,” Altobelli says. “Beyond that, this project may help provide the framework for future opportunities throughout the area for providing sustainable home ownership.”
Published by The Business Journal, Youngstown, Ohio.