Syracuse (WSYR-TV) - Brand new, affordable homes are being unveiled throughout Syracuse.
The homes are part of a new program meant to revitalize the neighborhoods and help renters become homeowners.
The three and four-bedroom homes will cost a tenant anywhere from $300 to $700 a month based on their income, plus utilities.
The majority of the funding for the homes came from the private sector. Investors who financed the homes are benefiting from a 15-year federal tax credit program. Many of the homes were built on once vacant lots or in place of abandoned homes.
“What you have resulting is a major initiative here that’s really transforming neighborhoods and we’re looking to build more affordable housing in the future because the need is that high,” said Syracuse Housing Authority Director Bill Simmons.
After 15 years, the tenants can opt to buy the home with credits from each year they stay in it. Less than half the homes have occupants and the Housing Authority is accepting applications.