The first of forty planned “starter homes” in Flagstaff has been completed by Habitat for Humanity of Northern Arizona. KNAU’s Melissa Sevigny reports, the five-year project is meant to help address the city’s housing crisis.
The starter home mortgage is just under 1,000 dollars a month, and most of that money is put in an equity savings account that the resident receives when they sell the home back to Habitat for Humanity.
Eric Wolverton is the group’s executive director. He says it’s a unique model developed in Flagstaff and adopted as a nationwide pilot program. He says, "I don’t know of any other program set up where it’s self-sufficient, it’s not free tax money, it’s just hard-earned income being put into a savings program."
Habitat for Humanity received more than 600 applications for the first two starter homes.
The nonprofit’s website says the medium home price in Flagstaff has nearly doubled since 2019.
The project is being built on three acres donated by real estate developer Vintage Partners. Other collaborators include Coconino Community College’s construction program, and Block-Lite, a local company working on a sustainable process for making concrete blocks.
