BIRMINGHAM, Ala. (WIAT) — The city of Birmingham announced a step forward in affordable housing on Thursday.
The city has partnered up with the NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, for the Oak Hill project, a multi-million dollar development to help low to moderate-income families become homeowners.
The $25 million development deal will build 28, single-family homes off 51st Street Ensley and Avenue K. Each house will range between 1,200 to 1,350 square feet. The purpose of the project is to create more homeowners in the area, which developers believe creates community pride, investment opportunities, and future investments from businesses.
“It’s about closing the racial wealth divide. Owning a home and having a house appreciate in value is just one step toward doing that,” former board chair with NCRC Bob Dickerson said.
“But we are building an affordable range that’s been ignored by home builders for at least several decades,” Ed Gorman with Growth by NCRC said.
The project will also feature an agreement with the Birmingham Construction Industry Authority to maximize opportunities for minority and women-owned enterprises and veteran-owned small businesses to participate in the development and construction of Oak Hill. Providing local businesses and residents with employment opportunities is a mission shared by all of the partners.
During Thursday announcement, developers believe most of the houses in the area will close later in 2021.