The Neighborhood Sustainability Program was established by the Redevelopment Authority in 2014 as a tool to advance opportunities for homeownership and to maintain safe, stable and attractive neighborhoods in the Borough. Homes that are purchased through this program are important assets to the character of the Borough and represent opportunities for residents to enjoy home ownership in near-campus and near-downtown neighborhoods.
Through this program, the Redevelopment Authority purchases homes in the Highlands, Holmes-Foster, and College Heights neighborhoods and portions of the State College South neighborhood. Properties that are purchased include:
- Homes that are eligible to become student homes
- Homes that are registered as student homes
Student Home License
Prior to resale, the Redevelopment Authority will forfeit the student home license, if applicable, and place a restrictive covenant on the property to ensure the home is maintained as an owner-occupied residence or rented for single family residential purposes.
Purchase a Home
The Borough uses a listing agent to market properties for sale through this program, and any interested buyer is eligible to purchase these homes. The Redevelopment Authority sets the sales price for homes sold through this program based on fair market value. The value of the homes is determined based on an appraisal solicited by the Authority and on the advice of the RealtorTM listing the property. If you are interested in viewing one of the properties available for sale, please contact your realtor to set up an appointment.
Affordable Homes
In the future, the Redevelopment Authority may offer homes for sale at a price that is affordable to individuals earning an income which is 80 through 120% of the Area Median Income (AMI). These properties will provide an opportunity for homeownership to individuals who earn an income that is too high to qualify for a Borough assistance program, but too low to purchase a home on the open market. For questions about AMI and other Borough Homeowner Assistance programs, please contact the Planning Department.
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