Working families now have 142 new opportunities to afford buying a home of their own in the Biltmore neighborhood, thanks to a new housing effort led by developer Simsbury Associates, Inc., Phoenix City Councilman Michael Johnson, Keller Williams Platinum-Biltmore and Bank of America. Jamestown Condominiums was converted from an aging apartment complex into 140 brand new two-bedroom condominium homes priced from $129,900 to $149,900.
A grand opening ceremony was held at 10 a.m. Friday, Oct. 12, at the Jamestown Condominiums, located at 3833 N. 30th St., Phoenix. Each Jamestown condominium is equipped with the newest modern amenities, including stainless steel GE appliances and Kohler sinks, air conditioning, energy saving dual pane windows, tile floors, solid slab granite countertops and custom fixtures.
“Jamestown fills a void in our city for high quality ownership opportunities at affordable prices,” said Phoenix City Councilman Michael Johnson. “This site used to be aging and deteriorating apartments that were an eyesore in the neighborhood. That is why I have supported from the beginning the conversion of that old site into the beautiful homes you see today.”
“Working families deserve the opportunity to be homeowners, and through leveraged resources and aggressive pricing, we were able to make these condos affordable,” said Cliff Boyle, president, Simsbury Associates, Inc. “The average wage earner doesn’t have to be scared by today’s housing market. The Jamestown team worked with Bank of America and ACORN to make specialized financing available to meet the financing needs of moderate-income families.”
Affordable mortgage financing for first time homebuyers is being made available by Bank of America for Jamestown buyers. Borrowers using this financing are required to take home buyer education classes offered by the local nonprofit housing counseling agency ACORN, prior to purchasing their home.
“As the Bank of Opportunity, Bank of America is proud to provide safe, responsible mortgage financing options to Phoenix’s working families,” said Ramiro Pompa, senior vice president, Retail Mortgage Lending, Bank of America. “Homeownership builds wealth that can be passed on to future generations, and has a transformative impact in neighborhoods. Jamestown is truly an example of this.”
“Jamestown closes the price gap in the central city so that everyone with the ability to safely make a mortgage payment can obtain the American dream of homeownership,” said Brad Turk, operating principle, Keller Williams Realty Platinum.
Source: EVliving.com