The Family House Project is being funded by private lenders. Greystone Preservation is currently registering the project with state and federal authorities. Contacts with private lenders will begin when these registrations are completed.
Marketing for the the Family Houses will take place through contacts and presentations at
churches. The marketing program will begin prior to the purchase of any foreclosed buildings to assure that there will be buyers for them after they are rehabbed. Greystone Preservation has screened two lenders who will be recommended to buyers of Family Houses. These lenders have been chosen for their sensitivity to first time homebuyers' special needs.
If possible, two bank-owned two-unit greystones will be purchased at one time. Construction work will be completed with licensed contractors and with city permits. The goal is to purchase, rehab and sell a two-unit greystone in six months or less