There will be a lot of activity coming soon to the corner of Phoenix Square Avenue and J.W. Davis Drive . The non-profit Gulf Coast Housing Partnership is ready to begin construction on the Phoenix Square subdivision. A total of 44 homes will be built over time. Eight homes will be built in Phase 1 of the project with immediate construction beginning on two of those eight homes.
The land for the Phoenix Square subdivision was donated by the City of Hammond. The water and sewer systems as well as subsurface drainage has already been completed.
The new homes will feature 3 bedrooms and 2 baths with square footage ranging from 950 to 1,500 square feet. The homes will be priced between $110,000 and $145,000.
The Phoenix Square project is part of Hammond 's initiative to provide affordable housing to the working-class. The City of Hammond received an honorable achievement award from the Louisiana Municipal Association for its initiatives in providing workforce housing. Workforce housing is defined as housing affordable for those earning a gross income of $22,000 to $49,000 annually.
Today, I checked our multiple listing service to see how many homes on the market match the $110,000 - $140,000 price range with 3 bedrooms and 2 baths. There are 34 single family homes in Hammond matching this criteria. Current interest rates are hovering just below 5%. You don't have to wait for the new homes to be built. There is affordable housing available in today's marketplace.
Comments(3)