West Palm Beach revitalizing Coleman Park community by offering half price homes

WEST PALM BEACH, Fla. - "It's a miracle! It's a miracle!" says a woman who won't share her name but says she's lived in her home on Lincoln Court in West Palm Beach for fifty years.

"It's better than TV!" she says as she watches two 38,000 pound sections of a house lowered onto a foundation just across the street from her home.

She's happy because of what this means for her community.

"We're doing a facelift of this whole neighborhood," West Palm Beach mayor Lois Frankel explains.

It's a face lift funded by about four million federal dollars through the Neighborhood Stabilization fund.

The project includes knocking down abandoned homes, fixing up others and an effort starting today to bring 18 new affordable homes here to the Coleman Park community.

They are all manufactured in Plant City  then trucked across the state.

The first was lowered Tuesday afternoon, inch by inch on the empty lot at 1109 Lincoln Court.

Frankel explains that while most of the county has suffered in this down economy, this neighborhood has been in poor shape for more than forty years.

Once lowered into place, the homes need only minor adjustments before they are considered 'move in ready' next week.

The buyer gets something that's not only pretty but also energy efficient.

Ian McCook, the president of Nvision Development Management Services says, "The homeowner gets a home that's affordable when it comes to their electricity bills."

The homes are even more affordable because they're being sold half price to qualified buyers through a program with the city of West Palm Beach.

"It can be yours for sixty thousand dollars a three bedroom two bath, value of 140 thousand dollars," Frankel explains.

Big deals and a big show that are already making a big difference in this community.

To qualify for the '50-50 Homebuyer Assistance Program' through the 'Coleman Park Initiative' with the city of West Palm Beach the buyer's annual household income cannot exceed 120 percent of the area median income at the time of purchase.

The buyer must attend and complete an 18 hour homebuyer education class, must occupy the property as a primary residence, must be able to secure a first mortgage for 50 percent of the purchase price of the property and must provide a down payment equal to 1.75 of the purchase price of the property.

Interested buyers can call Lucy Rivera at 561-822-1250.

You can also contact the West Palm Beach Department of Housing and Community Development at 561-822-1250 or 561-685-0386.

Information can also be found at: www.wpb.org/housing