Our goal is to maintain and develop safe, decent, and affordable housing and to expand rental and homeownership opportunities for Main South residents.
807 Main St Commercial Condos
The Main South CDC is currently developing a 9,000 SF affordable commercial condominium structure on a 16,000 SF vacant lot at 807 Main Street. The development will consist of six individually owned units of between 1,125-1,725 SF. This innovative “lease to own” project will allow small business owners the opportunity to own their own storefront, thus generating stakeholder interest in the upkeep and maintenance of the property and creating opportunities for financial stability and wealth creation. The proposed ownership model will allow merchants to lease their unit for up to five years while they develop the necessary credit history or down payment requirement to secure mortgage financing. The CDC will establish a condominium trust and withdraw once all units have been purchased. The project is actively in the development stage: Construction will begin in Fall 2023, and the Main South CDC is currently evaluating applications for prospective buyers who are part of the Main South Business Association.
92 Grand Street Commons
The Main South CDC is excited to announce that we have completed the lease-up of our new affordable housing development project: the Grand Street Commons. In 2018, the Main South CDC acquired a site off of Grand Street which had long been neglected and which exacerbated problems in the area with frequent illegal dumping and other illicit activity. The MSCDC was able to purchase this lot in order to repurpose the space and create new affordable housing within the community. The Grand Street Commons provided 48 new affordable units in the Main South neighborhood. 46 of the new units are reserved for families making at or below 60% of the Area Median Income (AMI), and of these 46 units, 10 are reserved for families making at or below 30% of the AMI. The other 2 units in the Commons will be leased out at market rate. Additionally, two commercial spaces on Grand Street will be available to lease by local businesses, and construction will be complete soon for these commercial units. Not only does this project create new affordable housing opportunities in Main South, it also serves to mitigate neighborhood blight by revitalizing a space which had been a vacant eye-sore for decades. Our Grand Street Commons units are affordable without compromising on our high quality and energy-efficiency standards.
Please note that we are no longer accepting applications for these housing units. The Main South CDC conducted a housing lottery in June of 2022, which allowed us to match every unit with deserving families in the Main South community. All tenants have moved in as of summer 2023.