Ground broken on Fernwood housing development in Burrillville

HERE ARE SOME OF THE families taking part in the Mutual Self Help program at Fernwood. / COURTESY NEIGHBORWORKS BLACKSTONE RIVER VALLEY
HERE ARE SOME OF THE families taking part in the Mutual Self Help program at Fernwood. / COURTESY NEIGHBORWORKS BLACKSTONE RIVER VALLEY

BURRILLVILLE – Ground was broken on the $7.5 million Fernwood Mutual Self Help housing development in the village of Pascaog this week in which families will help build their own homes.

NeighborWorks Blackstone River Valley on Monday joined with U.S. Rep. James R. Langevin, representatives of the U.S. Department of Agriculture Rural Development, Rhode Island Housing, town officials, Federal Home Loan Bank of Boston, Navigant Credit Union and future residents of the development for the event.

“Rhode Island Housing is thrilled to be a partner in this innovative development,” Barbara Fields, executive director of Rhode Island Housing, said in a statement. “Fernwood offers affordable homeownership opportunities that are truly attainable for low- and moderate-income residents. For the families here today, the many benefits of homeownership are now within reach.”

The first seven of the 30 planned affordable homes at NWBRV’s Fernwood development will be built through the USDA Rural Development’s Mutual Self Help Housing program which gives qualified first-time homebuyers the opportunity to work under the supervision of a construction manager to help build their own homes.

- Advertisement -

Families will work in teams of six, committing to 30 to 35 hours of work each week to building each other’s homes until the development is complete.
This cuts the cost of each home nearly in half, according to a news release about the event.

Participating homebuyers can expect to save approximately $75,000 by partnering to build nearly 65 percent of their home. Homes are priced from $151,000 to $170,000.
According to The Warren Group, the market price for comparable homes in the area ranges from $212,000 to $235,000.
The 30 homes at Fernwood will be located on individual lots within a new cul-de-sac neighborhood on George Eddy Drive off of Reservoir Road. Homeowners can choose from a selection of three-bedroom home designs, including ranch, cape, bungalow and colonial styles. Future homeowners also will pick the colors and finishes for their new homes.

“Fernwood is a unique, once-in-a-lifetime opportunity, where families will work together with their neighbors to build their first home,” Joseph Garlick, executive director of NWBRV, said. “We are very excited for our first group of seven trailblazers, and are busy recruiting two more teams to build 23 more homes.”

The development will be built on roughly 14 acres, preserving the surrounding open space. The new structures will be Energy Star-rated, built to conserve water, and feature renewable materials.
According to the release, Fernwood supports Burrillville’s efforts to reach the statewide goal of achieving 10 percent affordable housing stock in each community.

The development was funded through Rhode Island Housing’s federal HOME program, the Building Homes Rhode Island state bond referendum, the Housing Assistance Council, the Federal Home Loan Bank of Boston’s affordable housing program and a USDA first mortgage.

No posts to display

1 COMMENT