PHOTOS

Environmental Impact:

Because of the innovative design components incorporated into all four houses, they will also be environmentally-friendly with energy and water conservation components built into the buildings.  Additionally, drought resistant xeriscaping will be installed on the property.

Photos

The photos on this page are of the project development site as well as the proposed site plan for the “Solar Decathlon” houses and the IndieDwell steel modular “cargo container” house situated around a common area green courtyard, as an element of Aurora’s new  Green Court Dwelling land use.

Social Impact:

Targeted house re-sale prices are approximately $240,000 (for two-bedroom houses) to about $265,000 (for three-bedroom houses). Market rate similar rehabbed fix ‘n flips nearby are selling for approximately $320,000+ (for two-bedroom houses) and $350,000+ (for three-bedroom houses).  The price point of these affordable houses will help families escape housing insecurity and put them in a homeownership position.

The acquired houses are part of a “community land trust” model, whereby the ownership of the land is legally separated from the ownership of the physical house.  A nonprofit community land trust entity will then remain long-term steward of the land, and the homeowner will have a long-term ground lease when they purchase a house (typically 99-years long, with an additional 99-year renewal period).  This model helps make the sale house immediately less expensive since the cost of land has been eliminated from the house’s purchase price.

Environmental Impact:

The rehab process is eliminating asbestos containing materials (ACM) in many houses thereby making them healthier houses in which to live.  Many houses require a complete gut rehab down to their interior wood framing studs because all existing drywall contains ACM. Old linoleum flooring tiles and/or mastic containing ACMs also are being properly removed and disposed of by state certified abatement companies.  Additionally, all homes are being tested, and if necessary, treated for lead paint and radon.

The rehab of each house is intentionally installing new healthy building materials, including low VCP products (flooring, paints, etc). No carpet is being installed in any homes due to the high formaldehyde content in most carpets. Energy efficient insulation, windows, water heaters, and appliances are replacing older less efficient ones.

Lastly, at many houses exterior front lawns are being replaced with low maintenance, low water usage xeriscaping.

Photos

The below photos are samples of the type of rehab work that houses are currently undergoing:

Status and Timing:

The project is still in early planning stages to determine financial projections and funding requirements. Estimated completion date is in late 2022.

Social Impact:

This project is intended to be an “anti-displacement” project that benefits the existing community. It will allow current community members an affordable living option to remain in the community in a “home ownership opportunity.” The sale of the affordable condo units will likely be in the 70% – 80% AMI range allowing low- and moderate-income households the ability to often actually have more monthly disposable income left to spend on household and family necessities. The project may include a market rate component also.  One of the primary goals of this project is to provide local area households the opportunity to no longer experience housing insecurity by owning an affordable residential unit.

Photos

The photos on this page include some samples of possible building exterior finishes that could be similar to this future project; also included herein are photos of possible public amenities that might be designed into the future project.