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Nebraska Housing Resource, Inc.
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"Furthering the American Dream by helping
small builders serve first-time homebuyers, through creative use of all available resources, public and private."
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Cyrilla Court Development
"Cooperative Venture providing Affordable Housing for targeted Nebraska residents.”
Topics:
- Cyrilla Court Amenties
- Development
- Cooperation and Partnership
- Financing
The Cryilla Court Project is the first affordable housing subdivision of its kind in Lincoln, Nebraska.
Cyrilla Court Amenities
- Convenient Schools:
Campbell & Belmont Elementary
Goodrich Middle School
two miles from new Lincoln North Star High School
- Easy access to downtown Lincoln
- Convenient location to Interstate I - 80 & Lincoln Municipal Airport
- Close to new library at 14th and Superior Streets
- Adjacent to Max E. Roper Park & Bike Trail
Previous concerns related to the Cyrilla land were:
Idle land not producing tax revenue
and requiring city maintainance
Lynn Creek tributary erosion problems
Solutions:
Land was purchased by NHR from City Parks
Dept
Shift Lynn Creek tributary and protect new
channel with "bioengineering" techniques
Enrich area with affordable housing
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Cyrilla Court Development |
| 1st Addition - |
Nine single family units located at
North 1st Street and Benton Court @ market rate, per agreement with neighboring homwowners.
Constructed by:
Regal Building Systems
Rainbow Homes, Inc.
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| 2nd Addition - |
Thirty four affordable single family units located at North 1st Street and Irving Street
Constructed by:
Brighton Construction Co. Inc.
Cherry Hill Construction, Inc.
Habitat for Humanity
Hoppe Homes
Hunt/Clark Builders
J. Greg Schwinn Homes, Inc.
Lincoln Housing Authority ("student
build" program)
Rainbow Homes, Inc.
Regal Building Systems, Inc.
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| OutLot A - |
Being developed as these single family affordable homes by Regal Building Systems.
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Cyrilla Court Cooperation and Partnership
Cyrilla Court was made possible through the cooperation and partnership of the following entities:
- City of Lincoln
- Park & Recreation Department
- Urban Development Department
- Fannie Mae
- Lower Platte South NDR
- Neighborhoods Inc.
- Nebraska Investment Finance Authority
- Nebraska Housing Resource
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Financing
Financing to make Cryilla Court Development a reality:
- 5.99% NIFA First-time homebuyer mortgage (lender originated)
- Up to $7,500 downpayment assistance at 0% rate
City of Lincoln administered HOME Funds
Purchaser qualified by Neighborhoods Inc.
- Lot price loaned at 0% deferred note
Payable to Nebraska Housing Resource upon resale
- 1% downpayment option through Fannie Mae pilot program
- "REACH" Homebuyers Assistance Training thru Neighborhoods, Inc
(Readiness -
Education - Awareness - Collaborative for Homebuyer/owners)
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