Low Income Housing
We have 32 acres of land 50 miles south of Chicago, that is zoned for single family use.
Development Plans for 1/2 of it have already been drawn and approved and we can start sewer, water and streets at any time for the first 40 lots.
What can we do to make these homes available to families with lower median incomes without us losing money on the project?
Are there federal incentives or reliefs to the developer that could offset costs and make the loan programs for lower income buyers work?
You may get a better response if you post your question in the Builder/Developer Forum on the Commercial Board.