Condominium
Apartment
Ownership
Program
Affordable
Housing Plan
The
need for affordable housing in large US cities have reached a critical point.
Low and moderate income families are being displaced by high rent, taxes and
property speculators. The consortium recently introduced the new
Live-Inn-Investment Condominium into the real-estate marketplace. This new
condominium business model will help priority renters and others to live well
below market rented rates, even in high-rent districts.
The
Consortium has also developed an affordable housing model that convert public
housing into condominiums. It is being developed
in conjunction with community organizations with experience in working with low
income people. The first of these new innovative projects are being planned for
Baltimore City. This renovated project will be made-up of two and three bedrooms
condominiums, and they will cost between $25,000 to $35,000 each. When the
complex is completed it will be worth more than $6 million dollars.
Local
community groups assist in getting governmental approval for these public
housing projects such as the $6
millions dollars proposed for a Public Housing Conversion Project in Baltimore.
To mange the affordable housing programs, the consortium seeks
community organizations such as churches with experience in working with low and
moderate income home buyers.