Fremont Project Built Entirely for First-Time Home Buyers
The
Community Before
The Adams Avenue neighborhood was beleaguered by problems, including transients who used the street’s dead end to access homeless encampments along the nearby railroad tracks.
Homes on one side of the street had fallen into disrepair. Some had illegal additions and the structures were functionally obsolete, lacking even paved driveways.
The Community Now
In 1999, the
Fremont Redevelopment Agency moved ahead with plans to replace
existing, dilapidated structures with 17 homes affordable to
first-time homebuyers. Jointly constructed by Eden Housing and
East Bay Habitat for Humanity, seven homes were affordable to
low-income homebuyers and 10 for moderate-income buyers. Sales
prices ranged from $143,000 to $297,000 – about half the market
rate for smaller homes nearby on similarly sized lots. Two of the
homebuyers are local public school teachers, one is a child-care
provider, two are small business owners, four work for public
agencies and one is a new attorney. Seven homebuyers are single
parents.
The project helped this neighborhood by:
- Building an entire project affordable to first-time home buyers
- Reserving three homes for graduates of Fremont’s Housing Scholarship Program, which pays rent for 36 months to families increasing their job earning potential
- Implementing “Resale Restriction Covenants” that ensure homes remain affordable to future purchasers
- Creating needed housing near jobs for community members such
as teachers, small business owners and public servants