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Housing Strategies <br /> A range of housing strategies will help ensure the LaSalle Park Neighborhood is a successful,diverse,mixed-income area. <br /> Market Challenges Home Ownership ( , <br /> For the LaSalle Park neighborhood,the cost of The study further suggests that all of the new for- The City of South Bend has several programs to assist <br /> constructing new housing is greater than the appraised lease units would be in multi-family structures,mainly first time homebuyers and current homeowners: <br /> value of the property once it is completed.This financial apartments or lofts.Some of the smatter units could <br /> gap is a barrier to the financing and construction of also include a mix of accessory dwellings and small • Certified First Time Home Buyer Education which <br /> new housing,especially market-rate units,in the area cottages,which tend to be detached formats. is typically required for most federal and state <br /> Additionally the high water table and soil conditions housing assistance programs such as Habitat ,;. ., <br /> also impose higher construction costs. The study recommends that the City and developers for Humanity and Community Homebuyers __ <br /> focus on parcels that provide the best visibility to Corporation for home buyers whose income does <br /> A Residential Market Potential study completed for the traffic for marketing and advertising exposures:and not exceed 8o%of the Area Median Income. <br /> LaSalle Park area concludes that it has the potential to locations that can help serve as catalysts for additional <br /> add about 30 new for-lease units and to new for-sale reinvestment.New housing placed in the right spots • South Bend's Housing Counseling Agency offers ,a_„ 4i#64 '",+•`_ <br /> units,in any mix of detached houses,duplex houses. can generate positive momentum for additional housing counseling and Is open to all individuals in '-s' <br /> and/or townhouses annually. projects. need regardless of whether they are participating ' <br /> in an assistance program.This includes both <br /> House on Sheridan Street. <br /> Assuming that local developers are successful in foreclosure prevention counseling and credit/ <br /> building for-sale units that appeal to movers they can budget counseling. .i.i. , <br /> • <br /> capture some households that otherwise would have ' '4 Iw ` <br /> bypassed LaSalle Park as a potential place to live. <br /> The study indicates that new-build for-sale units could Housing Repair and Quality y , <br /> have values in the range of$i55,000 to$250.000,again { <br /> Housing repair assistance can allow neighborhood r; s. .. a _ <br /> depending on the building format.Duplex houses or residents to stay in their homes as they age.Code ' • <br /> attached cottages could be at the lower end of the >•yCr - - <br /> Enforcement can ensure that houses and their yards <br /> price spectrum,while detached single-family houses are kept in acceptable condition;in particular,the • <br /> are more likely to be at the higher end of the range. City's Rental Safety Verification Program Code can .,y; <br /> assure a levet of quality for rental housing units. , 4F, <br /> Q not -, ,, 53% <br /> During the planning process,participants stated that the need stated that absentee or <br /> stated the need for <br /> were asked a series of questions about the for repair of existing poor quality landlords <br /> tannin area.Of those that responded... homes was an issue in were an issue in the more homeownership <br /> planning Po was an issue in the Liberty Street vacant lot. <br /> the neighborhood neighborhood neighborhood <br />