Tuesday, December 4, 2007

Pointe Taking Off

City hails 1st buyer for home at Pointe
‘I love it,' says ex-resident of Hanna-Creighton
Link (JG)

"Renaissance Pointe includes the 36-block area bordered by Hanna Street, Creighton Avenue, South Anthony Boulevard and Pontiac Street, which has the capacity for up to 350 new homes and 75 rehabilitated homes near downtown.

Heather Pressley, deputy director of community development, said three other homes in the neighborhood are under contract, and the city has about a dozen serious inquiries. She said most of the interest has come from people living outside Fort Wayne who are moving to the city because of the incentives offered.

The city is offering down-payment assistance to buy homes, five-year tax abatements are available on construction, and lenders are offering below-market mortgage rates.

Pressley said she was surprised to have so much activity, as she didn’t expect the homes to sell until the spring.

The city is even using federal grant money to provide up to $24,999 to existing homeowners to allow them to revitalize their property. Pressley said 15 homeowners have applied for the grants.

To further attract people to the area, the city is repaving streets and repairing sidewalks in the area, as well as investing $1.5 million in storm sewer improvements to help with drainage problems."