Each builder will have a different construction timeline. For lot availability, please contact the real estate agent that is representing each builder directly. They will be able to provide updates on their builder's progress. See the "Home Builders and Floorplans" section for all necessary information.
Six builders were selected for the East College Park development project.
Each builder must maintain a ratio in which 60% of the homes are income-restricted and 40% are non-income restricted. East College Park is a performance-based project in which each builder has access to two (2) initial lots to construct homes for sale to income-restricted buyers. Once these first two (2) homes have been sold and transferred to the buyers, the builder can access an additional five (5) lots.
To access the additional lots, the builders must present documentation of potential homebuyers that have lender pre-approval and income verification. This documentation ensures that buyers meet income eligibility requirements and the 60/40 ratio is being maintained always.
The first homes are currently under construction. Three of the six builders have purchased their initial two lots and all have been placed under contract with potential buyers. Habitat has purchased six lots that should be constructed and completed by April/May of 2018.
The City of Raleigh is also sponsoring the construction of 23 income restricted homes in the nearby Martin-Haywood area. See more information.