The Promise Zone and a company called TruVest are partnering to not only create affordable housing in Evansville but also create homeownership opportunities for the people living there.
Instead of knocking down homes, and building new ones, TruVest is renovating blighted homes in the Jacobsville neighborhood. At the same time, those who need affordable housing will have the opportunity to actually own homes instead of renting them.
This partnership will help provide first-time homeowners with the tools they need to keep their credit up, continue to pay mortgage payments and all the other things that go into owning a home.
TruVest co-founder Peter Bordes says, “We’re going to find a balance between what we renovate, and then what we do helping the land bank taking those empty lots, and then developing new homes on them, but always with the idea that we’re not looking to gentrify neighborhoods, and we’re not looking to make the prices go up. We want to be able to keep them in line with the integrity of the neighborhoods.”
Mackenzee Pagett and her two children will be moving into this first house within the next few weeks.
She tells 44News she’s very excited being a first-time homeowner.