4-13-06 - The city of Denison will soon break ground on an affordable housing project that is over two years in the making, but the homes built will not be low-income.
There are 47 lots in Denison that have been empty and overgrown for years, but soon they will be the sites of 1,200-1,400 square-foot, $80,000 homes that is being called a middle-class makeover. City officials say there is a gap between hi-income and low-income housing in Denison and this project will fill that need by turning apartment renters into homeowners.
When the project was advertised directly to potential buyers and the city received little response. In hopes of creating more interest the city sold random lots to construction companies for just $100 to build on them, and then sell the homes for profit. Council members say the development will increase neighborhood value and with builders buying material at local stores will benefit the economy as well.
Ground breaking on the first lot is just a couple of weeks away. Future owners of these homes will also qualify for a 10-year tax abetment.
For more information contact the Denison Office of Community Development at (903) 465-2720.