metcalfe park owner initiative

Partnering with the Urban League, Gorman and Company developed a lease purchase program aimed at increasing homeownership on scattered sites throughout a challenged city neighborhood. Residents renting one of the thirty 2-4 bedroom newly constructed single family homes have the opportunity to purchase at a substantial market discount at the end of a fifteen-year tax compliance period. This neighborhood gives long-term residents the opportunity to share in the equity at the time of purchase and gives them the opportunity to build credit and homeownership skills prior to owning a home.