Case Studies of the Section 510 Homeownership Opportunities Demonstration
Buffalo's 510 Demonstration is producing 113 units of elderly housing with Section 8 rental assistance and 35 condominium units under the homeownership component. The Section 8 project is proceeding according to schedule. The ownership component is also proceeding with completion expected in early 1984. At this point, the condominium building has been gutted, new electric and plumbing installed, and three model units have been constructed. Following presale of seven units (expected to occur in June, 1983) the construction loan will be activated and the remaining units will be finished. The 'average sales price for the units is $59,000, and all end loans are assumed to be conventional.
This report is part of the collection of scanned historical documents available to the public.