Last updated February 16, 2021
This FAQ covers the open application to purchase 64 Van Buren, 248 Main Street, and 174 Hasbrouck.
What is the process for purchasing these homes? What is the timeline?
Please reference the below process.
Why are there household restrictions? Does that mean a family of four, for example, cannot apply for a property with a required household size of five?
By maximizing the household size limits, we sought to serve the greatest number of people possible for this first round of houses. We also sought to serve the lowest income households possible. Future homes sold under our PILOT Program may offer an increased range of household sizes, but this would come with a tradeoff of being sold to higher income purchasers.
Anyone can apply through RUPCO to purchase the homes, but only those applicants that meet the household and income requirements may be qualified to purchase these homes.
For specific qualification questions, we recommend each applicant reach out directly to RUPCO’s home counseling via the link on our website.
These are more expensive than I thought. Isn’t this affordable housing? How were these prices set?
We are selling these homes for roughly half of what it costs us to build them. The proceeds from the sales of these homes will help us to fund the work we plan to undertake for future plans to serve more families. By responsibly underwriting our sales prices to make these 3 homes affordable to purchasers earning at or below 60% AMI* (64 Van Buren Street), 70% AMI (248 Main Street) and 80% AMI (174 Hasbrouck Avenue), we feel we are setting families up for success for generations to come.
The KCLB is focused on producing quality, affordable homeownership, not rental housing. Within the spectrum of services in the affordable housing industry, lower-income households may qualify for many affordable rental programs. The goal of our work at the KCLB includes meeting the unmet needs of our community by targeting the lowest income levels that are not served by pre-existing rental housing programs run by other organizations in the area.
*AMI = Area Median Income in Ulster County as of 2020.
What do the current renovations being done include?
The renovation work includes the complete renovation of all 3 homes, including new kitchens and bathrooms. Best efforts will be also taken to restore the historic elements of the buildings, including exterior and interior details. Interested applicants should contact RUPCO to discuss and review floor plans and finish details.