When Habitat for Humanity celebrates the groundbreaking of a subdivision near Ravenís Cove in Fort Wayne today, it will get no complaints from Charlie Giese.
Fullerís Landing is a $10 million, 120-lot affordable housing addition next to Ravenís Cove, a neighborhood where some residents are uncertain about what to expect from the new development on West Cook Road on the cityís northwest side.
Besides being the president of the Home Builders Association of Fort Wayne, Giese is building houses inside Ravenís Cove and will attend the groundbreaking.
ďI have a comfort level with Habitat for Humanity because I know what theyíre all about,Ē said Giese, who has five houses under construction in Ravenís Cove, which also has about 120 homes. ďWe took over Ravenís Cove about five or six years ago. I know thereís been concern about property values, but the market sets that.Ē
To qualify for Fullerís Landing, homeowners can make between $14,000 and $37,100 annually, based on family size. For example, a family of four canít earn more than $37,100. Habitat homeowners living in the addition will pay a zero-interest mortgage with 20- to 30-year terms, and typical payments will be about $500 a month, including taxes and insurance.
Fullerís Landing will feature one-, one-and-a-half and two-story home designs with a minimum three bedrooms. The houses will range from 1,200 to 1,800 square feet, with two-car garages and front porches. The neighborhood also will include a community playground and sidewalks.
Tuesdayís groundbreaking marks the first phase of Fullerís Landing, which initially will include 46 houses. Habitat leaders expect the subdivision to be completed in three phases over the next five to seven years.
There are 12 families currently going through Habitatís program for homeowner training who could qualify to live in Fullerís Landing. They also must volunteer their time on Habitat building projects. At this point, there is no waiting list.
The subdivision will span 39 acres, with homes costing $108,000 to $116,000. That compares with homes in Ravenís Cove that have assessed values ranging from about $107,000 to nearly $200,000.
Officials said the low cost of Habitat homes is possible through the support of individuals, churches and businesses, both financially and through volunteer efforts.
Justin Berger, executive director of Fort Wayne Habitat for Humanity, said the project will give people a chance at homeownership.
ďThis is a great thing for our area,Ē he said, ďand the ripple effects from it will be felt across the community.Ē