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AMERIDREAM, INC. HOLDS FIRST OPEN HOUSE OF 100 AFFORDABLE HOME PROJECT
- Ten new houses put on the market for low- to moderate- income homebuyers -


Gaithersburg, MD (December 2, 2003) – Committed to expanding affordable housing opportunities, AmeriDream, Incorporated’s Redevelopment Program recently began building the first 10 homes of a 100-home affordable housing project in Lehigh Acres, Florida.  The model home, located at 811 Greenwood Avenue and several others will be available for inspection for interested homebuyers on December 16th from 9:00 a.m. to 5:00 p.m.

These energy efficient homes, developed by AmeriDream Redevelopment, Inc. and built by Home Front, Inc. of Venice, FL, are approximately 1,200 square feet with one-car garages.  Priced at $110,000, these homes are designed to provide housing for low- to moderate-income homebuyers in the Lee County, Florida area.  AmeriDream will pay 3 percent of the sales price towards the purchasers down payment or closing costs.


“We are very proud of this project.  To be able to provide these first ten homes at an affordable price is a big accomplishment,” said David Hintz, vice president of AmeriDream’s Redevelopment Program, “Our continued mission of supplying sustainable, energy efficient, safe, decent, and affordable housing for low- to moderate- income homebuyers has taken a big step with these first homes.  ith many more homes to come in this 100-home project, we continue our effort of getting interested underserved homebuyers into homes.”


AmeriDream’s Redevelopment Program builds new, affordable homes and renovates existing properties, placing these properties on the market at prices that accommodate predominantly low- to moderate-income homebuyers.  AmeriDream works to promote the value of homeownership as a strong foundation that supports lasting communities and individual prosperity.

 
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The mission of AmeriDream, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity. AmeriDream, Inc. is a non-profit, publicly supported organization that is tax-exempt under Internal Revenue Code Section 501(c)(3). AmeriDream, Inc. meets the requirements for a charitable organization, as referenced in the HUD Handbook 4155.1 REV-4, CHG-1 Section 2-10 for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area and Florida, and the Community Link Program nationwide. Through the Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. Through Community Link, AmeriDream has donated more than $1.5 million to a range of community organizations, including Habitat for Humanity, the American Red Cross Disaster Relief Fund, and the Victims Rights Foundation.