In 2006, New Lima - Housing For The Future secured the vacated Whittier School site for development of a new subdivision to include 12 new homes for low/moderate income families. The community would be redeveloped using overages in the City of Lima's HOME funding.
New Lima built 7 homes and donated the remaining lots to Habitat of Humanity - Lima Area, in which they have built 4 homes.
By the end of 2012, New Lima had sold 2 of the houses to qualified buyers who were able to secure conventional mortgage financing. New Lima developed a financing option in hopes of selling the remaining 5 houses - and proposed this to the City of Lima and HUD. This new funding option would allow interested buyers the opportunity to purchase a house, while New Lima would act as the lender for a 10 year time period. After gaining approval from the City of Lima and HUD, New Lima set their plan into action. On August 27, 2014, New Lima closed on the last home in the development.
In 2003, New Lima - Housing For The Future partnered with Miller-Valentine Group on an application with the Ohio Housing Finance Agency for Low Income Housing Tax Credit (LIHTC) funding. The application was approved and the project was completed in 2005.
New Lima Homes is a scattered site development of 60 single family homes. The community has 32 homes which were developed along one street along with 28 other homes which are scattered throughout the neighborhood in South Lima.
This community provides a dual purpose to the low/moderate income citizens of Lima:
If you are interested in learning more about this "Miracle on 4th Street" and how it came to be, please watch the development video here!
For leasing information on New Lima Homes, please click here!
New Lima - Housing For The Future is the Owner, Developer and Manager of Lima's newest and most sought after address for active senior's age 62 and older!
All 24 senior villas are 2 bedrooms with 2 full bathrooms and feature the following amenities:
The community is built with the lifestyle of the active senior in mind and features the following community amenities and services:
Take your video virtual tour here!