LOUISVILLE, Ky. (WDRB) -- A Louisville-based nonprofit says it's creating affordable housing in west Louisville one step at a time, three homes at a time.
Three homes now stand in what was once a vacant lot in Louisville's Russell neighborhood. They were built by Louisville-based REBOUND, Inc., an organization that describes itself as a "nonprofit Community Housing Development organization that promotes community development, expands opportunities and improves stability in low-income and vulnerable families."
The goal is to create homes that are affordable for those who are struggling.
Kevin Dunlap, the executive director of REBOUND, Inc., said a house key is not an impossible dream.
"I don’t want people to get discouraged that they can't become homeowners because you absolutely can," he said.
He pointed out that "REBOUND" is an acronym.
"It stands for 'Rebuilding Our Urban Neighborhood Dwellings,'" he said.
For more than 30 years, the nonprofit has been committed to community development and neighborhood revitalization.
"We have worked in numerous neighborhoods, but we focus our efforts in west Louisville because that's where the greatest need is," he said.
Dunlap said his team is providing the necessary tools and opportunities for many to own a home.
"One step at a time, three houses at a time, we are able to accomplish that by working together," he said.
Most recently, the organization transformed the corner of South 19th Street and Magazine Street.
"All of this was vacant land here," Dunlap said. "We acquired all of this land here and built brand new homes."
Each home has 3 bedrooms and 2.5 baths. They're estimated to be listed for $185,000.
"Along with these homes, these families are eligible for down payment assistance for a down payment of up to 20%," Dunlap said.
He added that the nonprofit's goal is to close racial gaps in homeownership. According to the U.S. Department of the Treasury,the average white household whose head is younger than 35 has $30,000 and $20,000 more in housing equity wealth than the average Black or Hispanic household in that same age group. By the time household heads are 55 or older, these gaps will have widened to $175,000 and $145,000, respectively.
"Homeownership creates suitability -- it creates general wealth," explained DeOndrea Robinson, owner of Jump Start Realty and Development LLC. "All of these things are part of the framework of actually building and growing a community and changing west Louisville."
The builders said the goal is to have families move into the homes within the next 30 days.
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