Homeowners wanted: New neighborhood coming to Durham’s Hayti community. What to know
A new neighborhood is coming to Durham’s Hayti district.
Habitat for Humanity of Durham recently purchased two and a half acres from Mount Vernon Baptist Church at 211 E. Umstead St. The lot sits adjacent to the church on South Roxboro Street in this historically Black neighborhood that’s rapidly gentrifying.
The plan is to build 10 affordable homes: six single-family homes ranging from 1,100 to 1,800 square feet, and four townhouses.
The nonprofit broke ground earlier this month. It’s now seeking first-time buyers through its homeownership program.
Applications are on the Durham Habitat website and will remain open until 150 forms are received, Durham Habitat said.
“The property holds great potential,” said Durham Habitat CEO Tiana Joyner.
A three-bedroom home is expected to appraise at around $320,000. Durham Habitat sells at this value since it’s also the lender for the zero-percent mortgage.
Under these terms, “10 more local families will become homeowners,” Joyner said.
A once-thriving Black neighborhood, the Hayti community fell into decline after urban renewal projects constructed the Durham Highway in the 1960s, cutting off the district from downtown.
Today, as Durham’s growth surges and land becomes more expensive, it’s become unaffordable for many longtime residents.
The median sale price in this ZIP code — 27707 — was around $480,000 in July, up 6.7% year-over-year, according to the latest data from Redfin.
That’s out of reach for someone who earns 50% to 80% of the area’s median income — $35,400 to $80,900 for a family of four — which Habitat serves. You’d need to earn $56,020 to $101,520 more — around $136,920 — to afford that median-priced home with a 20% down payment.
Competition is also stiff. On average, homes in this ZIP code receive three offers on and sell in around 13 days, Redfin found.
Founded in 1985, Habitat for Humanity of Durham has built, sold and financed more than 450 homes in partnership with low-income residents.
The repairs application portal is always open for existing homeowners. For more information, visit durhamhabitat.org.
This story was originally published August 31, 2024 at 9:17 AM.
