The Brackett Knoll subdivision is wrapping up construction in Hartford, Connecticut, offering duplexes for sale at reduced rates with built in rental income included.
"Construction is underway on a market-rate housing development in Hartford’s North End, one of several long-awaited projects helping to stabilize one of the poorest sections of the city," reports Rebecca Lurye.
The final phase of construction on the Brackett Knoll subdivision will add 14 income-restricted duplexes, according to Lurye, with an innovative business model. Qualifying residents were able to purchase the homes for a reduced price and will live in one unit while renting out the other.
"To quality for a home, a family must have a combined household income of $30,000-$60,000," reports Lurye. The homeowners are expected to "have about $2,000 in monthly home expenses — including mortgage, utilities, taxes and reserves — with rental income bringing that down to about $800."
"The three-bedroom, one-and-a-half bath units will have full basements, front porches and back decks, and the side-by-side units are slightly staggered to give residents more privacy when they spend time outside," adds Lurye.
Study: Market-Rate Development Filters Into Naturally Occurring Affordable Housing
New research sheds new light on one of the most hotly debated questions in planning and development.
The End of Single-Family Zoning in California
Despite a few high-profile failures, the California State Legislature has approved a steady drumbeat of pro-development reforms that loosen zoning restrictions. The state raised the stakes on its zoning reforms this week.
Austin 'Right to Return' Policy Implemented for the First Time
A North Austin development will be the first approved under the city's new Right to Stay and Right to Return policies, aimed at preventing displacement in gentrifying neighborhoods.
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.