Northwood Lease-to-Purchase Program

Lease-to-Purchase

As Neighborhood Renaissance was completing the final CLT homes, the housing and mortgage lending markets drastically changed and the foreclosure crisis began. Many low-income renters including our current tenants were being displaced due to landlord foreclosures. To address these conditions, we developed a Lease-to-Purchase program with a $375,000 grant from the Housing & Community Development Dept. of Palm Beach County.

Currently, this program includes 5 of the homes in the CLT and each is rented to the future owner with an option to purchase. All the participants are receiving ongoing case management and making progress in overcoming their barriers to homeownership.

701-48th

In the future we look to expand this program to include additional homes in the Northwood-Pleasant City neighborhoods through our Northwood Neighborhood Stabilization Initiative.

Tagged: northwood west palm beach

Neighborhood Renaissance

Neighborhood Renaissance is a 501(c) (3) nonprofit development corporation dedicated to breathing new life into economically distressed neighborhoods.

We do so by creating workforce housing opportunities, jobs, and small business prospects for low- and moderate-income persons.

Phone: 561-832-6776
Fax: 561-832-0483

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