Habitat goes bonkers
Habitat for Humanity has gone positively mad– mad about pricy housing. Today, the local chapter announced that it's buying Southwood trailer park, which, at 100 acres, is the biggest mobile home community in the area.
Habitat, which has made headlines for its innovative transformation of one Belmont trailer park, plans to seek a rezoning that would allow the group to create a "mixed income, mixed use" neighborhood.
Currently the site of 371 mobile homes, Southwood, just off 5th Street Extended, is adjacent to the proposed Biscuit Run development.
So how will Habitat keep its boot-strapping buyers from flipping their properties? One way, director Overton McGehee tells the Hook, is from agreements that force owners to turn over 50% of any appreciation when they sell to a non-family member.