Download Construction Underway on New Front Door Pride

CITY OF EVANSVILLE
ONE N.W. MARTIN LUTHER KING, JR. BLVD.
EVANSVILLE, INDIANA 47708
OFFICE OF THE MAYOR
JONATHAN WEINZAPFEL
October 31, 2007
For Immediate Release
Contact: Audra Levy
(812) 436-4969
[email protected]
Construction Underway on New Front Door Pride Homes
(EVANSVILLE, IN) – Construction on the first new homes in the Front Door Pride area is
underway and ahead of schedule. Work was to begin by the end of October but progressed so
quickly that builders were on the lots from 114 to 120 Madison Avenue by October 24th. Those
lots have been cleared, the foundations poured, and plumbing work has begun. The builder
estimates the homes will be done in 90 days.
In addition to the construction progress, the large building on the corner of Madison and Culver
is being razed today and the large building located behind the lots on Jefferson Street has already
been demolished.
“The look of this neighborhood has already changed since we first announced these two Front
Door Pride homes would be built,” said Mayor Jonathan Weinzapfel. “Several eyesores have
been torn down, or are about to be razed. And with the construction of these new homes off to a
quick start, this area is set for a transformation.”
There are many advantages for people who are thinking about purchasing one of these Front
Door Pride homes. They are affordable, with prices at $80,500 and $83,500, and have a
property tax phase-in over three years. Each home comes with a ten-year warranty, and energyefficient construction and insulation.
Local banks, including Old National, Integra, Fifth-Third, Evansville Commerce Bank, First
Federal Savings Bank, and Bank of Evansville, have pledged $50 million in mortgage loans to
help qualified buyers. Buyers must have an income of less than 80% of the area median, but do
not have to be a first time homebuyer. However, first time buyers will have to complete a
homebuyer education class. A minimum down payment of $500 is required. There is also a
closing cost allowance.
HOPE of Evansville is responsible for finding buyers for the Front Door Pride homes. Our
Greater Community will use a $1 million grant from the state to provide subsidies of up to
$25,000 toward construction of the new homes. Local Housing Trust Fund Grants will also be
used to offset the cost of development.
As was previously announced, construction will take place in phases. The first phase includes
the two homes currently under construction. The second phase will include an additional eight to
10 single-family homes within a one-block radius of phase one. These lots are in Goosetown
redevelopment project areas one and two, which are bounded by Southeast 2nd, Madison, Garvin,
and Washington Avenues. This section was chosen because it has the greatest number of
potential building lots available right now, and it’s near the Alhambra Theatre that is the center
of the Haynie’s Corner Arts District.
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