Lancaster, PA – HDC MidAtlantic President Dana Hanchin announced today that the first sale within the organization’s homeownership program at Larkspur Crossing in Manheim Township, PA (Lititz mailing address) has been completed. This is the first program of its kind for HDC MidAtlantic, and one of only a handful of such programs across the state. Three more homes are expected to be purchased this year.
Others are looking forward to making their homes truly their own, and to continuing to invest in a community they have grown to love.
Residents in the program have been carefully planning for this opportunity for several years, and are excited to achieve the dream of home-ownership. As one recently explained, “This program was an opportunity for us to work smarter and get to this goal… It means that now our children can have something. It’s something we can pass down to them.”
Built in 2005, Larkspur Crossing is located at 201 Starflower View and features 29 three-bedroom affordable rental townhomes. The homes are now available to purchase by current renters at $75,000, a sales price significantly below market value. Estimated market values range between $149,000 and $183,000 depending on the size and location of the townhome.
Interested renters began preparing to buy their homes in 2018 by working with Lancaster Housing Opportunity Partnership (LHOP) and Tabor Community Services. To be eligible to buy their home, renters are required to complete Tabor’s Financial and Homeowner Counseling Program, which focuses on household budgeting, credit scores and mortgage approval process, and LHOP’s Home Buyer Education Program. If successful in completing LHOP’s program, residents can receive a loan up to $5,000 to apply toward closing costs. Residents can also receive additional financial assistance from Tabor’s matched savings program, which matches $2 for every $1 dollar saved. HDC MidAtlantic has also committed to providing $3,300 toward down payment and/or closing costs.
“At HDC, we understand that affordable housing is a cornerstone to economic mobility and growth. For most Americans, the primary way families build wealth is through homeownership. This program makes home ownership a possibility for households who may have thought their dream was out of reach. We are proud to partner with them to make their dream a reality,” Hanchin said. “We are also incredibly grateful to our partners at LHOP and Tabor. Their education and counseling programs are vital to helping make the dream of owning their own home possible.”
“Homeownership allows individuals and families to build wealth; it provides long-term stability to neighborhoods and communities; and over time is more affordable than rental housing,” said PHFA Executive Director and CEO Robin Wiessmann. “Housing stability is also critical to health. We are proud to work alongside HDC MidAtlantic to make sure as many Pennsylvanians as possible can attain quality, affordable housing.”
Larkspur Crossing was built in 2005 using Low-Income Housing Tax Credit financing with the intention of giving renters the option to buy their townhouse after the 15-year tax credit compliance period ended this year.
Every voice matters. At HDC, we are committed to raising up resident voices and opening doors so that residents can actively participate in the democratic process, speak out on issues important to them and their communities, and communicate how policies affect their everyday lives. We believe it is important to make the time and space to listen, and to support resident leaders in effectively using their voices. We support resident advocacy opportunities through our Resident Academy of Leadership & Inspiration, Voter Registration Drives, and holding constituent meetings and tours with elected officials.
Allentown, PA
Fredericksburg, PA
Lancaster, PA
Finding a place to live that meets one’s basic needs and budget can feel like a never-ending challenge. The complexity of lower-income families and individuals extend far beyond simply finding a safe, affordable, and welcoming place to call home. At HDC, we are committed to being an ally in speaking to issues, programs, and policies that improve quality of life of our residents. Issues that we know are important to our residents include:
We know we can’t solve the affordable housing challenge alone. We need champions to help change the conversation around what home means and why it matters. We are committed to educating elected officials to understand the needs and challenges of their constituents. We are here to provide solutions that work and offer affordable housing expertise that demonstrates the impact policy decisions have on lower-income families, seniors and those with disabilities. We work closely with and participate in alliances and coalitions to educate and advance shared policy priorities. Our advocacy partners include:
Wendy Smith serves as the Vice President of Property Management, responsible for the overall strategic direction for HDC’s management portfolio and the organization’s largest staff team. Previously, Wendy served as Asset and Operations Manager for a leading real estate firm based in New York City which owned over 11,000 affordable homes. Since 2008, Wendy has held roles in regional level operations for commercial and for-profit housing agencies. Wendy holds a degree in International Studies.
