Home Ownership Provides Equity Program (H.O.P.E.)

Restoring Hope

Heart of the City Neighborhoods introduced this program to revitalize neglected homes and restore this once vibrant and historic neighborhood. This program targets homes which are considered neighborhood nuisances and problem properties in an effort to eliminate blight and the negative perceptions associated with urban living.

How We Do It

Rehabilitation on a H.O.P.E. home will usually include new mechanics, updated plumbing, electrical, and gas systems, updated kitchens and bathrooms, replacement of windows and doors, in addition to new floor coverings. This effort aims to ensure long-term affordability, creating a new home within an 1890’s frame. When rehabilitation is complete the renewed home is then sold at market rate regardless of rehabilitation costs.

In addition to the complete rehabilitation of the home, purchase assistance may be available to qualified buyers through grants and low interest loan programs. This formula assures affordability making an ARP home ideal for first time homebuyers who have limited capital for extensive home repairs, updates, and purchase.

H.O.P.E homes have had many long-term positive effects on the new homeowners and on the neighborhoods where they are located.

Currently, HOCN is undergoing two active developments under the H.O.P.E. program: Whitney Place Properties Initiative and Prospect Avenues Properties Initiative.

Interested in Purchasing a Home?

See what we have available. Want to learn more? Contact the current program coordinator at (716) 882-7661 ext 203

Eligibility

To qualify you must

• Be a first time homebuyer purchasing a single or two family house
• Plan to occupy the house to be purchased for five years
• Be willing to live on the Lower West Side of Buffalo, New York
• Complete homebuyer / and or tenant training class
• Be mortgageable
• Meet income guidelines

Income Guidelines

Household Size / Income (80% of AMI)

• 1 / $35,600
• 2 / $40,650
• 3 / $45,750
• 4 / $50,800
• 5 / $54,900
• 6 / $58,950

*These income guidelines are based on 2013 numbers and are subject to change