Seaford, DE, Nov 14, 2012 -- SEAFORD, Del., November 14, 2012 – Better Homes of Seaford officially opened its newest project today with the support of federal and state funding.
Hampton Circle, a community of 35 affordable rental apartments on Independence Drive, is designed for lower income seniors and persons with disabilities. The apartment complex is a 3-story building; each unit is complete with a balcony and appliances including a washer and dryer. The $5.8 million project is funded in part by the U.S. Department of Agriculture Rural Development, the Delaware State Housing Authority, Citi Real Estate Advisors and Wilmington Savings Fund Society. The project also received technical support from NCALL Research, Inc. that included help with assembling applications for financing, serving as part of the development team, and monitoring construction and rent-up. To help make the rent affordable, the property receives rental assistance from USDA for each of the units. Rents range from $540 - $630 a month and there are 31 one-bedroom and 4 two-bedroom apartments in the complex along with office space and a community room.
USDA Rural Development State Director Jack Tarburton said, “The work for a project like this is really done by non-profits. We salute the hard work of Better Homes of Seaford for it’s an effort well worth taking as it provides rural communities with decent, safe and quality affordable rental housing that many low-income residents can call home for years to come. On a larger scale it is a long term investment in this community and represents the cooperation of funding sources at every level coming together for the good of the community. USDA is honored to be one piece of the puzzle.”
Hampton Circle’s first tenants took residency on October 1 and twenty-nine of the units have been filled. The remaining six units are expected to be filled by Thanksgiving. According to Bill Roupp, Executive Director of Better Homes, 118 applicants are on the waiting list indicating the strong demand for affordable housing. “The response from the new residents is that they really like their beautiful new home, the response from the Board of Directors is we still have a lot more work to do to provide affordable housing for this ever expanding segment of population in our community,” said Roupp.
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. The agency supports a wide variety of loan, guaranteed loan, and grant programs to rural residents in the areas of housing, community facilities, business development, infrastructure, and other essential needs. Additional information on rural programs is available by calling their office in Dover at (302) 857-3615 or by visiting www.rurdev.usda.gov/de.