An Exciting Acquisition for DCLT

In December 2016, DCLT seized an unusual opportunity to purchase 54 units of existing, scattered-site affordable homes from a private seller in East Durham.

This acquisition greatly expanded our portfolio of rental properties. These properties – some multi-family buildings, some duplexes, some single-family homes – are all occupied but are not up to the standard of quality that DCLT generally provides to its residents. These homes have not been invested in for many years and are in need of substantial renovation.

 

DCLT acquired these homes in December 2016 with a loan from Self-Help, but this project will require grant help since repairing and rehabbing property is expensive. Can you help?

 

The City of Durham plans to finance a large portion of cost to rehab these homes.  DCLT aims to raise other funds for a significant part of the work.  DCLT’s growth campaign can provide stable, energy-efficient homes for 54 households with low incomes.  Together we can make them an asset to the whole community.  DCLT will start renovations in the summer of 2018.

 

 

East Durham News


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