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Developer building $5M rent-to-own community in Halifax Twp.

By - Last modified: May 1, 2013 at 12:16 PM

The Yoder Group, a Northumberland County-based developer, is seeking $93,000 over two years in affordable housing program funds from Dauphin County for a $5 million housing project in Halifax Township.

Known as Quail Commons, the northern Dauphin County development would include 24 single-family units with three bedrooms that are being marketed as rent-to-own at the end of 15 years, President Robert Yoder Sr. said.

While renting, the tenants will be given the opportunity to learn the skills needed and receive the financial education required to own and maintain a home, he said.

Rents for the properties will be based on family income, Yoder said. The range is between $250 and $1,000 with the former aimed at the four designated handicap-accessible homes.

The tenant would be responsible for just electric utility costs, while the developer would cover water and sewer costs.

Annual credits of $2,000 will be available for tenants who maintain their properties, Yoder said, which creates a $30,000 potential credit against the eventual purchase price.

That sales price would be based on the appraised value of the home at the end of the 15-year period, he said. If these energy-efficient homes were built and sold today, they would be priced at $200,000 to $225,000, he said.

The Casey Drive development also will include a community building for tenant use.

 

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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