New Homes Are a 'Pleasant' Surprise

For households with an income in the mid-$20,000 to $50,000 range, purchasing a new home can be a financial stretch. But thanks to public funding, new homes are within reach of this income bracket at Pleasant Ridge in Stowe Township.
A public-private partnership developed Pleasant Ridge to accommodate 181 townhome rental units and 15 single-family homes. Completion of the homes is now in its second phase, and only six have yet to be purchased.
The detached, two-story single-family homes provide terrific views of downtown Pittsburgh. There are three models. All are energy-efficient and include three bedrooms, one-and-half baths, living room, dining room, family room and a basement and integral garage. Options include a master bath, a fireplace, and a rear deck.
"These homes provide a great opportunity for first-time homebuyers who have to work with a limited income," said Sandy Marenberg, marketing manager. The homes, priced from $68,835 to $77,425, come with a number of standard features, including all kitchen appliances.
To all appearances the homes, which come with 10-year warranties, should fetch higher prices. Not under the public-private partnership, said Marenberg. "The public purpose of Pleasant Ridge is to create quality, energy-efficient homes for folks who otherwise couldn't afford it."
As little as approximately $1,000 in cash, said Marenberg, may qualify someone to purchase a Pleasant Ridge home. "Our goal is to create a community of people who can enjoy the lifestyle and investment potential of owning their own homes."
Coldwell Banker is handling home sales at Pleasant Ridge.