New Grant for the Seniors at Home Village of Dunlap

New Grant for the Seniors at Home Village of Dunlap 07/21/2010

New Hope Construction is happy to report that on June 17, 2010, the Federal Home Loan Bank of Cincinnati approved our grant request to build 16 houses and awarded us $798,362 for this project.

These houses will be in the 3rd and final phase of the Seniors at Home Village of Dunlap. Funding for each of these phases was received from Federal Home Loan Bank of Cincinnati, and additional funding for Phase 1 was awarded from the THDA Tennessee Trust Fund through the Southeast Tennessee Development District. In addition to these grants, first mortgages for most homeowners are provided by THDA through the New Start Program, which enables us to establish a zero percent interest, 30 year mortgage for our homeowners.

Sixteen houses were built in Phase 1 of the Village. Groundbreaking was on July 24, 2008, and all houses were completed by the end of June 2009. Phase 1 dedication was held on August 10, 2009. On a beautiful summer day, the families, partners, and friends gathered to show appreciation to those involved in making this a reality. After the pledge of allegiance and flag presentation made by the ROTC MOCS Color Guard from the University of Tennessee at Chattanooga, each homeowner was recognized and presented with a Bible and flag. On the same day, Russell Meade, our CEO/President & Founder, announced that Phase 2 would soon begin. A short groundbreaking ceremony followed, and several homeowners opened their homes for guests to visit.

With Phase 2 recently completed, we now have an addition 15 senior families who are enjoying their new homes. Paving for this phase is scheduled to be completed in the next few days, and construction for the first 2 houses in Phase 3 will follow.

This project has gone beyond just “building a house”. Both personal and business relationships have been established. Local contractors, appraisers, surveyors, and real estate personnel have been utilized whenever possible, which has given Dunlap an economic boost. We are so grateful for having been a part of this community for the last 4 years and also for making a difference in the lives of the seniors who are now residing in the Village.