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southern lights
orchard gardens
acme
gold dust
lenox flats
high sierra
fireweed court
strawbale homes
emma court
best
practices
charrettes
1% for art
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EMMA
COURT Ethal
Lane, Missoula Montana
PROJECT BASICS
Emma Court Rent-to-Own (1996)—4 newly constructed townhomes
in a 20-unit mixed income development. Its first project, homeWORD
acquired these townhomes to help low income families transition
to homeownership. The plan was to rent for 7 years and then take
over a very low cost mortgage and receive a no-interest deferred
second mortgage of approximately $25,000 from homeWORD. During
the rental period, families received homeownership training, family
advocacy, budgeting assistance, and matched down payment savings
through homeWORD. Although the 7 year rental period proved to be
too long of a wait for most families, one original family stuck
to the program and purchased their townhome in 2004 with help
from homeWORD’s
down payment assistance program. The remaining three townhomes
were sold at
a very low
price to
low-income
families.
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