TRAVERSE CITY – Habitat for Humanity of the Grand Traverse Region is moving forward with a new housing project in downtown Kalkaska to build eight homes for families priced out of the traditional market. Construction on the development is scheduled to begin this spring.
Organizers report significant demand for affordable housing in the area, with dozens of people expressing interest shortly after the project was announced. Habitat leaders noted that rising home prices and down payment requirements have made traditional home ownership difficult for many working families in the region.
The housing project utilizes a specific financing model designed to make ownership more affordable for low- to moderate-income residents. Sallie Crepps serves as the homeowner services manager at Habitat Grand Traverse. She explained that buyers are responsible for a primary mortgage based on their financial capability, while the remaining balance is handled through the organization.
“Whatever mortgage you can afford, like, let’s say you can afford a $200,000 mortgage. The other 134,000 actually is a second mortgage through habitat,” Crepps said. “And that is a no payment, no interest mortgage that you never have to pay unless you sell the home.”
Habitat for Humanity is also seeking community involvement for the Kalkaska development. Individuals interested in applying for one of the eight homes or signing up to volunteer for construction can find more information on the Habitat for Humanity of the Grand Traverse Region website.
Habitat for Humanity expects the first four homes to be completed by the end of the year.