Grandmont Rosedale Development Corp.'s renovation lands new buyer

Grandmont Rosedale Development Corporation (GRDC) expects to complete the renovation of a house in the Minock Park neighborhood in approximately one month. A first-time homebuyer has already signed a purchase agreement for the home located on Auburn Street north of Fenkell.

The home will be sold to the moderate-income buyer for only $62,000 with the use of MSHDA’s Acquisition Development Resale (ADR) program, which provides a subsidy and down payment assistance; the project cost is estimated at $100,000 including acquisition.

Built around 1950, the three-bedroom home is one of 10 in the neighborhood constructed of cinder block. “They are unusual houses not characteristic of the rest of the neighborhood,” says Tom Goddeeris, GRDC’s executive director.

Source: Tom Goddeeris, GRDC